Since the 1990s, efficiency and benchmarking analysis has increasingly been used in network utilities research and regulation. A recurrent concern is the effect of environmental factors that are beyond the influence of firms (observable heterogeneity) and factors that are not identifiable...

Improving the efficiency and performance of the UK residential sector is now necessary for meeting future energy and climate change targets. Building Performance Evaluation and Certification (BPEC) tools are vital for estimating and recommending cost effective improvements to building energy...

Supervised dimension reduction methods have been extensively applied in different scientific fields like biology and medicine in recent years. However, they have hardly ever been used in micro economics, and in particular cost function modeling. Nonetheless, these methods can also be useful in...

This paper examines repeated implementation of a social choice function (SCF) with infinitely-lived agents whose preferences are determined randomly in each period. An SCF is repeated-implementable in (Bayesian) Nash equilibrium if there exists a sequence of (possibly history-dependent)...

This paper explores the empirical effects of competition on technical efficiency in the context of electricity industry restructuring. Restructuring programs adopted by many U.S. states made utilities residual claimants to cost savings and increased their exposure to competitive markets. We...

If stock prices followed a random walk, uncertainty about future stock prices would be so great that the observed bias towards equities in long-term investment portfolios would be surprising. The good news is that if, as a growing body of research suggests, there is even a weak tendency for...

Am 1. Januar 2009 wurde die kostenbasierte Genehmigung der Netzentgelte im deutschenStrom- und Gassektor auf das System der Anreizregulierung umgestellt. DieserSystemwechsel rückt die Frage nach der Investitionskompatibilität dieses auf Anreizezur effizienten Leistungserbringung ausgerichteten...