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Optimal Sliding Scale Regulation: An Application to Regional Electricity Distribution in England and Wales
Hawdon, David; Hunt, Lester; Levine, Paul L; Rickman, Neil - C.E.P.R. Discussion Papers - 2005
This paper examines optimal price (i.e. ‘sliding scale’) regulation of a monopoly when efficiency and managerial effort … are not observed. We show how to operationalize this model of incentive regulation and use actual data from electricity … distribution in England and Wales to make welfare comparisons of sliding scale regulation with a price cap regime and the First …
Persistent link: https://www.econbiz.de/10005792004
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On the Uniqueness of Optimal Prices Set by Monopolistic Sellers
den Berg, Gerard J van - C.E.P.R. Discussion Papers - 2005
This paper considers price determination by monopolistic sellers who know the distribution of valuations among the potential buyers. We derive a novel condition under which the optimal price set by the monopolist is unique. In many settings, this condition is easy to interpret, and it is valid...
Persistent link: https://www.econbiz.de/10005789129
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Optimality and Renegotiation in Dynamic Contracting
Battaglini, Marco - C.E.P.R. Discussion Papers - 2005
We characterize the optimal renegotiation-proof contract in a dynamic Principal-Agent model in which the type of the agent may change stochastically over time. Contrary to the case with constant types, the ex ante optimal contract may be renegotiation-proof even if types are highly correlated....
Persistent link: https://www.econbiz.de/10005666998
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The Structure of Corporate ownership in Privatized Utilities
Trillas, Francesco - C.E.P.R. Discussion Papers - 2002
this separation interact with the regulation of the product market. The main issue to be addressed here is how the degree …
Persistent link: https://www.econbiz.de/10005123598
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Economic Reform in Europe: Integrating and Liberalizing the Market for Services
Newbery, David M G - C.E.P.R. Discussion Papers - 2002
and gas. The Paper argues that there is unfinished business in the areas of regulation, restructuring, encouraging proper … risk management through contracting, and designing markets and regulation to ensure effective and sustainable competition …
Persistent link: https://www.econbiz.de/10005661538
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The Value of Don Bradman: Additional Revenue in Australian Ashes Tests
Blackham, Julian; Chapman, Bruce - Research School of Economics, College of Business and … - 2004
monopoly supplier of cricket, was able to obtain all the extra proceeds. …
Persistent link: https://www.econbiz.de/10004971394
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Do Consumers Search for the Highest Price? Equilibrium and Monopolistic Optimum in Differentiated Products Markets
Schulz, Norbert; Stahl, Konrad - C.E.P.R. Discussion Papers - 1995
least as much variety. Hence, in the situation considered here, monopoly tends to increase welfare. …
Persistent link: https://www.econbiz.de/10005136540
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Wages and Productivity Growth in a Dynamic Monopoly
Bester, Helmut; Petrakis, Emmanuel - C.E.P.R. Discussion Papers - 2001
This Paper studies the inter-temporal problem of a monopolistic firm that engages in productivity-enhancing innovations to reduce its labour costs. If the level of wages is sufficiently low, the firm's rate of productivity growth approaches the rate of wage growth and eventually the firm reaches...
Persistent link: https://www.econbiz.de/10005067455
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Pricing a Package of Services
Ketelaar, Felix; Szalay, Dezso - C.E.P.R. Discussion Papers - 2014
We study a tractable two-dimensional model of price discrimination. Consumers combine a rigid with a more flexible choice, such as choosing the location of a house and its quality or size. We show that the optimal pricing scheme involves no bundling if consumer types are affiliated. Conversely,...
Persistent link: https://www.econbiz.de/10011145402
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Monopoly Power and the Firm's Valuation: A Dynamic Analysis of Short versus Long-Term Policies
Basak, Suleyman; Pavlova, Anna - C.E.P.R. Discussion Papers - 2002
This article develops a multi-period production model to examine the optimal dynamic behaviour of a large monopolistic value-maximizing firm that manipulates its valuation as well as the price of its output. In the pre-commitment equilibrium the firm’s output and labour demand are decreased,...
Persistent link: https://www.econbiz.de/10005666999