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Preannouncement as a Deterrence in a Model of Safety Regulation

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Authors

Kim, JeongYoo; Koh, DongHee

Issue Date
1997-01
Publisher
Institute of Economic Research, Seoul National University
Citation
Seoul Journal of Economics, Vol.10 No.1, pp. 41-56
Keywords
preannouncementcredible messagecheap talk
Abstract
We will examine the role of preannouncement (cheap talk) in a model of safety regulation. It is asserted that if the authority can make a preannouncement, it may transmit credible messages and can induce a more socially desirable level of precaution of the potential injurer even if it is unbinding, because the authority and the agent have some interest in common, that is, to deter accidents.
ISSN
1225-0279
Language
English
URI
https://hdl.handle.net/10371/1095
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