This book responds to the opening up of electricity markets to competition, which has completely changed the nature of …

Competition increases firm productivity, but in network industries, effective competition requires the vertical … competition and losses from separation. We use the case of US electric industry restructuring to analyze the combined effect of … competition and vertical separation, as well as the individual effects. We analyze the difference-in-difference in inefficient …

Although the allocative efficiency benefits of competition are a tenet of microeconomic theory, the relation between … competition and technical efficiency is less well understood. Neoclassical models of profit-maximization subsume static cost …-minimizing behavior regardless of market competitiveness, but agency models of managerial behavior suggest possible scope for competition …