Showing 1 - 10 of 239
policy implication that comes out of the empirical analysis is that, when combined with network expansion investments, gas …-release measures applied under regulatory control are indeed effective short-term policies for promoting gas-to-gas competition. …
Persistent link: https://www.econbiz.de/10010706828
of a barrier to avoid Bertrand competition. We show that the notion of a barrier to entry has economic pertinence only if … monopolistic competition with welfare implications of a barrier to entry being positive as well as negative. Regulators thus need …The concept of a barrier to entry has been discussed least since Bain [1956] with important contributions by Spence …
Persistent link: https://www.econbiz.de/10011166351
This article examines the railway concessions in France in the 19th century as examples of a principal – agent relationship between the state and a contractor. I show that one of the main assumptions of the agency theory, the asymmetric information at the benefit of the agent, is not verified....
Persistent link: https://www.econbiz.de/10010708148
Network industries are now characterized by a regime of permanent innovation, while they continue to be fixed and sunk … coordinate their investments; hence a threat of collusion. In the same time competition is fierce due to the opportunities … dilemma between coordination and competition, independent third parties granted with capabilities to influence the "rules of …
Persistent link: https://www.econbiz.de/10010723175
This paper analyzes the interactions between vertical integration and (wholesale) spot, forward and retail markets in risk management. We develop an equilibrium model that fits electricity markets well. We point out that vertical integration and forward hedging are two separate levers for demand...
Persistent link: https://www.econbiz.de/10011073085
When an incumbent firm is in charge of a distribution network, it accumulates information on the state of the network … supplier, and must induce effective competition despite the winner's curse. We show that the optimal concession contract can be …
Persistent link: https://www.econbiz.de/10010708683
chemical industry; intercompany agreements and EC competition law; incentive contracts in utility regulation; the performance … design of contracts; the contract as economic trade; contract theory and theories of contract regulation; economic reasoning …; and a transactions cost perspective on electricity sector restructuring and competition. Brousseau is at the University of …
Persistent link: https://www.econbiz.de/10011073643
In this article, I analyze and compare the contributions of Dupuit and Walras on the natural monopoly of railroads. Both theorists argued that inland waterways—as opposed to railroads—could be vertically unbundled, a point which previous authors who compared their views failed to point out....
Persistent link: https://www.econbiz.de/10011073245
The recommendations of Basel II impose to banks the use of the "hard" information in the decision making process of SMEs loans. These banks must choose between replacing the "soft" information, already used, by the "hard" information and combining the two forms of information. This thesis...
Persistent link: https://www.econbiz.de/10011074623
The key role of institutions for economic performance has recently been acknowledged in the economic policy debate. This paper aims at pointing out the main policy lessons and the recommendations to be drawn from New Institutional Economics (NIE), when considering the organization of markets. We...
Persistent link: https://www.econbiz.de/10010765457