This paper studies the innovation response of upstream technology suppliers when their downstream buyers transition from regulation to competition. By modeling the impact of the 1990s U.S. electricity deregulation on patenting, we find that after deregulation, the net competition effect...

This paper studies the impact of electricity deregulation and restructuring on research and development (R&D) expenditures of investor owned utilities. The differing pace of deregulation in the fifty states provides heterogeneity in institutional structure and competitive forces, and showcases...

This paper analyzes the impact of changing market structure on environmental research expenditure by investor owned utilities in the US electricity sector for the period 1989-1997. The main finding suggests that after controlling for firm characteristics and the “greenness” of the state,...

Abstract The natural progression of generators and retailers, following electricity deregulation, to vertically integrate is a contentious subject involving, at one extreme, expectations that a laissez- faire market approach will deliver economic benefits to all participants, and at the other...

Valuation of electricity generating assets is of central importance as utilities are forced to spin-off generators with the introduction of competitive markets. A continuous-time mean reverting price path with stochastic upward jumps is proposed as an appropriate model for long-run competitive...

This paper analyzes the impact of deregulation and restructuring on public-interest environmental research conducted by electric utilities in the US from 1990 to 2001. I find that deregulation has had a substantial negative impact on such expenditures, which have declined by 40%. However,...

We examine whether and how the allocation of financial transmission rights affects the behavior of electricity generators and electricity consumers with market power in the electricity market. The analysis recognizes that the ultimate allocation of rights is endogenous, depending both on whether...

La reciente liberalización del mercado de generación eléctrica para clientes regulados autoriza a las empresas distribuidoras a contratar energía a precios que pueden ser superiores al precio nudo fijado por el regulador, traspasándolos íntegramente a sus consumidores. Motivado en esta...

The present paper seeks to cast scepticism on the validity and value of the results of all earlier studies in India on energy demand analysis and forecasting based on time series regression, on three grounds. (i) As these studies did not care for model adequacy diagnostic checking, indispensably...