| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w25268 |
| 来源ID | Working Paper 25268 |
| Benchmark Regulation of Multiproduct Firms: An Application to the Rail Industry | |
| Wesley W. Wilson; Frank A. Wolak | |
| 发表日期 | 2018-11-19 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | A number of formerly regulated multiproduct industries have a transitional or permanent residual regulatory mandate to protect consumers from "excessive" prices. The legislation that deregulated most rail rates contains a statutory mandate for the regulator to protect shippers from "excessive" prices. Fulfilling this mandate has been challenging because of the cost and administrative burden to shippers in obtaining regulatory relief. Moreover, as argued by Wilson and Wolak (2016), the existing rate relief mechanism is based on a cost concept that does not reflect the actual incremental cost of a shipment and it does not adequately address the question of what constitutes an "excessive" rate for a multiproduct firm with significant common costs. This paper analyzes a benchmark price approach to identifying "excessive" prices in multiproduct industries subject to residual price regulation. Our empirical analyses demonstrate how the mechanism can be used to fulfill the statutory mandate to protect shippers from "excessive" prices at substantially lower cost, with less administrative burden, and without significant adverse consequences for the long-term financial viability of the railroads. |
| 主题 | Industrial Organization ; Regulatory Economics ; Industry Studies |
| URL | https://www.nber.org/papers/w25268 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/582942 |
| 推荐引用方式 GB/T 7714 | Wesley W. Wilson,Frank A. Wolak. Benchmark Regulation of Multiproduct Firms: An Application to the Rail Industry. 2018. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w25268.pdf（1020KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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