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Regulation on Energy Industry in China under AsymmetriccInformation.
- Source :
- Energy Procedia; Jun2011, Vol. 5, p462-466, 5p
- Publication Year :
- 2011
-
Abstract
- Abstract: This paper studies the implementation of a regulation problem of China in which the energy industry''s private information is unknown to the state-owned assets supervision and administration commission of the state council (SASAC). It''s reasonable to use a fuzzy variable to denote the subjective assessment of the SASAC to the private information. A principal-agent model is then set up to maximize the welfare of the SASAC. Pontryagin maximum principle is adopted in this paper to obtain the necessary condition of the optimal solutions. [Copyright &y& Elsevier]
Details
- Language :
- English
- ISSN :
- 18766102
- Volume :
- 5
- Database :
- Supplemental Index
- Journal :
- Energy Procedia
- Publication Type :
- Academic Journal
- Accession number :
- 60433226
- Full Text :
- https://doi.org/10.1016/j.egypro.2011.03.080