Browsing Scholarly Articles by Author "Sappington, David E. M."

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  • Lewis, Tracy; Sappington, David E. M. (The American Economic Review, 2001)
    In a previously published article in this Review, Rohan Pitchford (1995) develops an interesting model of lender liability and derives an intriguing finding. He shows that when lenders are held liable for the social damages ...
  • Lewis, Tracy; Sappington, David E. M. (The American Economic Review, 1992)
    We examine the design of incentive programs to motivate regulated utilities to supply both basic service (e.g., electricity supply, local telephone service) and service enhancements (e.g., energy-conservation services, ...
  • Lewis, Tracy; Sappington, David E. M. (The American Economic Review, 1989)
    In practice, contracts involve "standard terms" or "rules," allowing for variations only under "exceptional" circumstances. We develop a simple model in which optimal contracts display this feature, even in the absence of ...
  • Lewis, Tracy; Sappington, David E. M. (The American Economic Review, 1988)
    Optimal regulatory policy is derived in a setting where the firm has better knowledge of demand than the regulator. When marginal production costs increase with output, the regulator can induce the firm to use its private ...
  • Lewis, Tracy; Perry, Martin K.; Sappington, David E. M. (1989)
    This article will examine the implications of enforcing specific performance for attempted breach of contract in a model of renegotiation. It will be shown that after the supplier receives relevant private information, ...