One of the important devices to smooth the information asymmetry problem of the regulator is using "yardstick competition" The use of this mechanism has implications on the optimal division of a state-owned company before its privatization. We extend the framework introduced by Armstrong. Cowan and Vickers (1994) from 2 companies to n. The authors show that welfare increases when sepa... https://www.alarecre.com/Looney-Tunes-Marvin-the-Martian-Big-Head-Galaxy-S23-Waterproof-Case-p116784/