The authors review the case for intermediate power incentive regulation, such as sliding scale, when the regulator is badly informed and the firm's profits have a shadow resource cost. They then evaluate a number of different regulatory regimes, including sliding scale, in terms of productive...

This paper is about one aspect of Britain’s electricity trading system, its advantages and its weaknesses concerning the incentives it provides or fails to provide for the location of generation. (Similar considerations apply to the location of loads, though these are less responsive to...

The operationalization of a marginal cost pricing scheme must account for conventions consonant with basic welfare economic theory. The welfare gains associated with adopting alternative tariffs must outweigh the costs of implementation. An in-depth ...

A monthly consumer price index traces changes in the monthly cost of a year’s consumption using a sample of prices. But in some months the prices that can be sampled will temporarily exclude some of the products that were bought in the base year, Christmas trees providing a textbook...

There is a high degree of symmetry between economic goods and economic bads. Snow, litter and street mud are cited as examples. Economic growth obviously results in an increase in the supply of bads as well as goods. In addition, however, because it raises the value of time it can turn goods...