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Author: Yukihiro Kidokoro
Publisher:
ISBN:
Category :
Languages : en
Pages : 33
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Author: Yukihiro Kidokoro
Publisher:
ISBN:
Category :
Languages : en
Pages : 33
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Author: Catherine Liston
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: Ian Alexander
Publisher:
ISBN:
Category :
Languages : en
Pages :
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This Note compares the effects of price cap and rate-of-return regulation on the risk borne by regulated utilities. It present evidence that price cap regulation subjects firms to greater risks and therefore raises their cost of capital. This result has one clear implication: firms regulated by price caps must be permitted to earn higher returns. If they are not, they will be unable to attract new investment capital and the quality of their service will decline.
Author: Andrew C. Barrett
Publisher:
ISBN:
Category : Telecommunication policy
Languages : en
Pages : 14
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Author: Kevin M. Currier
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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The two forms of natural monopoly regulation that are typically discussed in Intermediate Microeconomics textbooks are marginal cost pricing and average cost pricing (rate of return regulation). However, within the last 20 years, price cap regulation has largely replaced rate of return regulation due to the formers' potential to generate more efficient pricing structures and strong incentives for cost reduction. Price cap regulation, however, has received little attention in Microeconomics textbooks. This paper provides a simple model of price cap regulation that demonstrates its superiority over conventional rate of return regulation. The present paper thus forms the basis for a lecture on contemporary natural monopoly regulation.
Author: Ronald Ray Braeutigam
Publisher:
ISBN:
Category : Price regulation
Languages : en
Pages : 8
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Author: Tracy R. Lewis
Publisher:
ISBN:
Category :
Languages : en
Pages : 15
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Author: Michael A. Crew
Publisher: Springer Science & Business Media
ISBN: 1461540488
Category : Business & Economics
Languages : en
Pages : 217
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companies to diversify may outweigh the costs of doing so, and that some traditional regulatory concerns may be excessively restrictive. The papers by Hillman, Harris, and Jang and Norsworthy, while all relating to individual industries, have lessons for other regulated industries. Hillman's paper, "Oil Pipeline Rates: A Case for Yardstick Regulation," deals with the important topic of yardstick regulation for oil pipelines. While his application is highly specific, the potential application of yardstick regulation goes beyond oil pipelines. He reviews the evolution in the law regulating oil pipelines. While showing that some progress has been made in introducing economic efficiency considerations into regulation, he provides a careful critique of the operation of existing regulation and suggests an alternative based upon a yardstick approach. His approach seeks to use competitive market prices as the yardstick, with administration of price discrimination limited to dealing with possible "favoritism" to subsidiaries and affiliates. "Telecommunications Services as a Strategic Industry: Implications for United States Public Policy" by Harris and "Productivity Growth and Technical Change in the United States Telecommunications Equipment Manufacturing Industries" by Jang and Norsworthy provide important insights for telecommunications.
Author: Jordan J. Hillman
Publisher: Springer Science & Business Media
ISBN: 1461316294
Category : Business & Economics
Languages : en
Pages : 147
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Author: Catherine Liston
Publisher:
ISBN:
Category : Price regulation
Languages : en
Pages : 40
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