Starting in 1998, the electricity market in England and Wales will be opened up to full competition, and all consumers … transactions costs exceeding £100 million a year for the first five years. Relative to a counterfactual without competition, there …

risk management through contracting, and designing markets and regulation to ensure effective and sustainable competition … and gas. The Paper argues that there is unfinished business in the areas of regulation, restructuring, encouraging proper …. Restructuring is problematic, requiring forceful competition authorities with a clear agenda to achieve desirable structural reforms …

this separation interact with the regulation of the product market. The main issue to be addressed here is how the degree …

absence of any regulation, private investment decisions on capacity unambiguously lead to a socially sub-optimal outcome, and …

. We investigate theoretically and empirically how bank organization shapes banking competition. Our theoretical model … organizational structure and technology of rival banks in the vicinity influence local banking competition. …

volatility. We posit that competition affects volatility in two distinct and inter-related ways. Market power works as a hedging …

How do banks react to increased competition? Recent banking theory offers conflicting predictions about the impact of … competition on bank orientation - i.e., the choice of relationship based versus transactional banking - and bank industry … specialization. We empirically investigate the impact of interbank competition on bank branch orientation and specialization. We …