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Short-term auctions for access to entry terminals of the British gas-network appear to successfully allocate scarce resources and capture scarcity rent. Now long-term auctions are being introduced to guide future capacity expansion decisions. In our model the fraction of rights issued in the...
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The paper discusses the respective roles of competition policy and sector-specific regulation for industries such as … when competition policy and to sector-specific regulation apply to a given industry at the same time. The discussion refers … parts of the industry should be subject to regulation, and (iii) the recent cases in the telecommunications and postal …
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