Economies of scale and scope are typically modelled and estimated using cost functions that are common to all firms in an industry irrespective of whether they specialize in a single output or produce multiple outputs. We suggest an alternative flexible technology model that does not make this...

Economies of scale and scope are typically modelled and estimated using cost functions that are common to all firms in an industry irrespective of whether they specialize in a single output or produce multiple outputs. We suggest an alternative flexible technology model that does not make this...

This paper assesses the restructuring of the Spanish electric power sector by analysing the performance of electric companies. To this end, we jointly analyse the creation and decomposition of the economic value generated by them before and after the reform, and its distribution among firms'...