Download or read book Rate of Return Regulation and Operating Efficiency in Regulated Firms written by Stanford University. Energy Modeling Forum and published by . This book was released on 1984 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Pricing Efficiency Under Rate of Return Regulation written by Paul M. Hayashi and published by . This book was released on 1983 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Rate of Return Regulation written by and published by . This book was released on 1976 with total page 700 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Impact of Rate of Return Regulation on Technological Innovation written by Mark W. Frank and published by Routledge. This book was released on 2017-05-15 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contends that various forms of regulation have costs as well as benefits and it examines the impact of government regulation on the innovativeness of ’monopolies’ - in this book meaning firms with the power to affect market price. The government regulation analyzed in this case is limited to rate-of-return regulation. Using theoretical models such as the Averch-Johnson model and a two-stage Nash equilibrium model, this volume examines whether regulated monopolies engage in more or less technological innovation than unregulated monopolies. Furthermore, if the unregulated (or less regulated) monopolies do engage in more research and development than regulated ones, it questions whether social welfare would be greater with the former. Using a case study of ten privately-owned electric utilities in the State of Texas, USA, it then tests out the general propositions brought forward by the theoretical modelling and finally makes its conclusions taking into consideration both theoretical and empirical findings.
Download or read book Rate of return Regulation and Efficiency written by Ralph Dale Samuelson and published by . This book was released on 1984 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: An examination of how natural gas pipeline and distribution company efficiency may be affected by three policy instruments at the disposal of regulators.
Download or read book Efficient Capital Markets and Rate of Return Regulation written by Richard A. Wall and published by . This book was released on 1984 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Economics of Public Utility Regulation written by Michael A. Crew and published by Springer. This book was released on 1986-06-18 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Alternatives to Rate of Return Regulation written by Andrew C. Barrett and published by . This book was released on 1988 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Pedagogical Note on the Superiority of Price Cap Regulation to Rate of Return Regulation written by Kevin M. Currier and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book The Price cap Vs the Rate of return on Capital Regulations written by Pornpimon Pongvitayapanu and published by . This book was released on 1994 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Pricing and Price Regulation written by D. Bös and published by Elsevier. This book was released on 2015-12-04 with total page 472 pages. Available in PDF, EPUB and Kindle. Book excerpt: This clear, precisely written text presents an important branch of the modern, micro-economically based theory of industrial organization and of public finance, utilizing calculus only. Answers are provided to some pertinent economic questions, such as the pricing policies of vote-seeking politicians, of empire-building bureaucrats and of out-put-maximizing and energy-saving public utilities. These policies are compared with the welfare economic benchmark rules e.g. on marginal cost pricing and Ramsey pricing. Great significance is attached to price regulation. The book elucidates the recent replacement of rate of return regulation by price-cap regulation. It also explains why many simple rules like yardstick regulation fail to achieve optimal prices, which shows how complicated it is to induce managers to truthfully reveal their private information. How this can be achieved properly is shown in various principal-agent models on regulation with uncertain costs, uncertain demand and with soft budget constraints.
Download or read book Incentive Regulation and the Regulation of Incentives written by Glenn Blackmon and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 138 pages. Available in PDF, EPUB and Kindle. Book excerpt: The class is theory of price regulation assumed that the regulator knows the fIrm's costs, the key piece of information that enables regulators to pressure fmns to choose appropriate behaviors. The "regulatory problem" was reduced to a mere pricing problem: the regulator's goal was to align price with marginal cost, subject to the constraint that revenues must cover costs. Elegant and important insights ensued. The most important was that regulation was inevitably a struggle to achieve second-best outcomes. (Ramsey pricing was a splendid example. ) Reality proved harsh to regulatory theory. The fmn's costs are by no means known to the regulator. At best, the regulator may know how much is currently spent to provide services, but hardly what costs would be if the fmn vigorously pursued effIciency. Even if the current cost curve were known to the regulator, technologies change so swiftly that today's costs are a very poor indicator of tomorrow's, and those are the costs that will determine the fIrm's future decisions. With the burgeoning attention to information considerations and game theory in economics, the regulator's problem of eliciting host information about cost has received considerable attention. In most cases, however, it has been in context that are both static and stylized; such analyses rarely capture many of the essential elements of real world regulatory issues. This volume represents a fresh approach. It reflects Glenn Blackmon's twin strengths, a keen analytic mind and important experience in the regulatory arena.
Download or read book Risk and Return for Regulated Industries written by Bente Villadsen and published by Academic Press. This book was released on 2017-04-27 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt: Risk and Return for Regulated Industries provides a much-needed, comprehensive review of how cost of capital risk arises and can be measured, how the special risks regulated industries face affect fair return, and the challenges that regulated industries are likely to face in the future. Rather than following the trend of broad industry introductions or textbook style reviews of utility finance, it covers the topics of most interest to regulators, regulated companies, regulatory lawyers, and rate-of-return analysts in all countries. Accordingly, the book also includes case studies about various countries and discussions of the lessons international regulatory procedures can offer. Presents a unified treatment of the regulatory principles and practices used to assess the required return on capital Addresses current practices before exploring the ways methods play out in practice, including irregularities, shortcomings, and concerns for the future Focuses on developed economies instead of providing a comprehensive global reviews Foreword by Stewart C. Myers
Download or read book Understanding Regulation written by Robert Baldwin and published by Oxford University Press on Demand. This book was released on 2012 with total page 563 pages. Available in PDF, EPUB and Kindle. Book excerpt: An introduction to the practical and theoretical issues that are central to the study of regulation, which a particular focus on contested areas and how they are dealt with.
Download or read book Regulatory Risk and the Cost of Capital written by Burkhard Pedell and published by Springer Science & Business Media. This book was released on 2006-04-20 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: Austrian Controller Award 2005 This book develops a comprehensive concept of regulatory risk integrating existing theoretical and empirical research. The focus is on explaining how the design of the regulatory system influences the risk of a rate-regulated firm, as well as on elaborating appropriate methods for the determination of the regulatory rate base and the allowed rate of return. Regarding the regulatory rate base, the question of whether market value of capital or book value of assets should be employed and the choice of the depreciation scheme are at the center of the discussion. Specific methodical issues concerning cost of capital assessment for rate-regulated firms are analyzed, i.e. the circularity of rate regulation, the sharing of risks between capital owners and rate payers, the length of the regulatory review period, the regulation of the capital structure as well as the conversion of a post-tax to pre-tax weighted average cost of capital.
Download or read book Regulatory Economics and Quantitative Methods written by Omar O. Chisari and published by Edward Elgar Publishing. This book was released on 2007-03-27 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: Regulatory Economics and Quantitative Methods comprises original contributions by leading researchers working on issues relating to regulation in Latin America. They focus on regulation in infrastructure industries and attempt to show how quantitative analysis can contribute to more effective regulation. In particular, they discuss central issues relating to the measures used for benchmarking natural monopolies, incentives and contractual arrangements used in the regulatory environment and the impact of regulation and regulatory processes.
Download or read book Price Regulation and Risk written by Michael Hierzenberger and published by Springer Science & Business Media. This book was released on 2010-08-03 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: Natural monopolies are not subject to the market-based principle of competition. Consequently, it is necessary to control companies in such monopoly positions with regard to their pricing. In the future, it will become more and more important to consider a possible change in the regulation regime when the future-oriented costs of equity - both in terms of price regulation and for conducting capital market-oriented business valuations - are to be determined. Based on the principal-agent problem, the book explains this topic. The effect of a change in the regulation regime is presented in the form of two studies: an international secondary analysis of the effects on cost of equity based on event studies of the Anglo-Saxon area and a primary analysis based on the Austrian regulation policy for electricity and gas supply systems. The two studies arrive at similar results: The change from a rate-of-return regulation to incentive regulation systems leads to a significant increase in systematic risk.
