| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4922 |
| DP4922 Euler Equation Errors | |
| Martin Lettau; Sydney Ludvigson | |
| 发表日期 | 2005-02-23 |
| 出版年 | 2005 |
| 语种 | 英语 |
| 摘要 | This paper examines optimal price (i.e. ?sliding scale?) regulation of a monopoly when efficiency and managerial effort are not observed. We show how to operationalize this model of incentive regulation and use actual data from electricity distribution in England and Wales to make welfare comparisons of sliding scale regulation with a price cap regime and the First-Best (the full information case). Our method enables us to quantify technical uncertainty as faced by the electricity regulator in the 1990s and shows that there are significant welfare gains from a sliding scale relative to the price cap regime. |
| 主题 | Industrial Organization ; Public Economics |
| 关键词 | Sliding scale Regulation Electricity distribution |
| URL | https://cepr.org/publications/dp4922 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/533823 |
| 推荐引用方式 GB/T 7714 | Martin Lettau,Sydney Ludvigson. DP4922 Euler Equation Errors. 2005. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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