Resource Allocation and the Regulated Firm: Comment on the Comments
The revenue-maximizing firm presumably has an internal return requirement that is at least as large as the maximum return permitted by a regulatory agency. In this case, which is the only one that seems economically meaningful, the undercapitalization result of Bailey-Malone holds throughout the elastic region of the revenue curve.
Year of publication: |
1973
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Authors: | Bailey, Elizabeth E. |
Published in: |
Bell Journal of Economics. - The RAND Corporation, ISSN 0361-915X. - Vol. 4.1973, 1, p. 288-292
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Publisher: |
The RAND Corporation |
Saved in:
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