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Productivity and Efficiency of US Gas Transmission Companies: A European Regulatory Perspective

Jamasb, T.; Pollitt, M.G.; Triebs, T. - Faculty of Economics, University of Cambridge - 2008

On both sides of the Atlantic the regulation of gas transmission networks has undergone major changes since the early 1990’s. Whereas in the US the long-standing regime of cost-plus regulation was complemented by increasing pipe-to-pipe competition, most European countries moved towards...

Persistent link: https://www.econbiz.de/10005207828

Does Competition Reduce Costs? Assessing the Impact of Regulatory Restructuring on U.S. Electric Generation Efficiency

Markiewicz, K.; Rose, N.L.; Wolfram, C. - Faculty of Economics, University of Cambridge - 2004

This paper explores the empirical effects of competition on technical efficiency in the context of electricity industry … were for the most part unaffected by restructuring, experienced the smallest efficiency gains over the past decade …

Persistent link: https://www.econbiz.de/10005647381

Capacity market design options: a dynamic capacity investment model and a GB case study

Hach, Daniel; Chyong, Chi Kong; Spinler, Stefan - Faculty of Economics, University of Cambridge - 2015

Rising feed-in from renewable energy sources decreases margins, load factors, and thereby profitability of conventional generation in several electricity markets around the world. At the same time, conventional generation is still needed to ensure security of electricity supply. Therefore,...

Persistent link: https://www.econbiz.de/10011262877

Model Selection in Threshold Models

Kapetanios, G. - Faculty of Economics, University of Cambridge - 1999

This paper considers information criteria as model evaluation tools for nonlinear threshold models. Results concerning the consistency of information criteria in selecting the lag order of linear autoregressive models are extended to nonlinear autoregressive threshold models. Extensive Monte...

Persistent link: https://www.econbiz.de/10005647350

Universality of Bayesian Predictions

Sancetta, A. - Faculty of Economics, University of Cambridge - 2007

Given the sequential update nature of Bayes rule, Bayesian methods find natural application to prediction problems. Advances in computational methods allow to routinely use Bayesian methods in econometrics. Hence, there is a strong case for feasible predictions in a Bayesian framework. This...

Persistent link: https://www.econbiz.de/10005783751

Testing for Infinite Order Stochastic Dominance with Applications to Finance, Risk and Income Inequality

Knight, J.; Satchell, S. - Faculty of Economics, University of Cambridge - 1999

The authors develop a test of infinite degree stochastic dominance based on the use of the empirical moment generating function. Two applications are considered. One uses the income data of Anderson (Econometrica, 1996) and derives results consistent with his. In the other application, the...

Persistent link: https://www.econbiz.de/10005783854

Additional Critical Values and Asymptotic Representations for Seasonal Unit Roots Tests.

Smith, R.J.; Taylor, R. - Faculty of Economics, University of Cambridge - 1995

Persistent link: https://www.econbiz.de/10005113838

Implications of intermittency and transmission constraints for renewables deployment

Neuhoff, K.; Cust, J.; Keats, K - Faculty of Economics, University of Cambridge - 2007

We represent hourly, regional wind data and transmission constraints in an investment planning model calibrated to the UK and test sensitivities of least cost expansions to fuel and technology prices. Thus we can calculate the value of transmission expansions to the system. We represent limited...

Persistent link: https://www.econbiz.de/10005647468

Does Weather Have an Impact on Electricity Distribution Efficiency? Evidence from South America

Anaya, Karim L.; Pollitt, Michael G. - Faculty of Economics, University of Cambridge - 2014

This paper analyses the influence of weather variables on the efficiency of electricity distribution utilities in … average under cost models there is a significant increase in efficiency when weather is incorporated in the production … the case for the proper adjustments of efficiency scores when specific firms face important efficiency changes due to …

Persistent link: https://www.econbiz.de/10010949352

Dynamic Efficiency and Incentive Regulation: An Application to Electricity Distribution Networks

Poudineh, Rahmatallah; Emvalomatis, Grigorios; Jamasb, … - Faculty of Economics, University of Cambridge - 2014

Efficiency and productivity analysis is a central concept in incentive-based regulation of network utilities. However …, the efficiency measures obtained from benchmarking predominantly reflect short term performance and hence, provide only a … of capital expenditure. This is because it adversely affects the firms' short term efficiency and, consequently …

Persistent link: https://www.econbiz.de/10010949354