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agency, the unbundling of generation, transmission, and distribution, the introduction of competition and the implementation … distribution segment. The unbundling of generation, transmission, and distribution has contributed to improving productive … generation segment, has significantly benefited from the introduction of independent regulation, the beneficial effects of (good …
Persistent link: https://www.econbiz.de/10009399295
This paper investigates various options for the organization of the railway industry when network operators require the access to multiple national networks to provide international (freight or passenger) transport services. The EU rail system provides a framework for our analysis....
Persistent link: https://www.econbiz.de/10009228629
While vertical integration is traditionally seen as a solution to the hold-up problem, this paper highlights instead that it can generate hold-up problems — for rivals. We first consider a successive duopoly where competition among suppliers eliminates any risk of hold-up; downstreamfirms thus...
Persistent link: https://www.econbiz.de/10010968928
We develop a model of interlocking bilateral relationships between upstream firms (manufacturers) that produce differentiated goods and downstream firms (retailers) that compete imperfectly for consumers. Contract offers and acceptance decisions are private information to the contracting...
Persistent link: https://www.econbiz.de/10010944623
Persistent link: https://www.econbiz.de/10005635903
This article formally analyzes the various corrective mechanisms that have been proposed and implemented to alleviate underinvestment in electric power generation. It yields three main analytical findings. First, physical capacity certificates markets implemented in the United States restore...
Persistent link: https://www.econbiz.de/10008461053
Price caps are often used by policy makers to "regulate markets". Previous analyses have focussed on the "supply side" impact of these caps, and derived the optimal price cap, which maximizes investment and welfare. This article expands the analysis to include the "demand side" impact of price...
Persistent link: https://www.econbiz.de/10010736816
Persistent link: https://www.econbiz.de/10004979433
Persistent link: https://www.econbiz.de/10004998334
In this paper, we discuss the choice for build-operate-and-transfer (BOT) concessions when governments and …rm managers do not share the same information regarding the operation characteristics of a facility. We show that larger shadow costs of public funds and larger information asymmetries...
Persistent link: https://www.econbiz.de/10009002345