This paper examines learning by doing in the context of a production function in which the other arguments are labor, human capital, physical capital, and vintage as a proxy for embodied technical change in physical capital. Learning is further decomposed into organization learning, capital...

This paper develops a model that shows the effects of rational expectations, and of efficient mark ets, on public utility regulation. It is shown that the feedback from investor expectations to regulatory behavior, together with investor expectations that take account of this feedback, basically...