This paper evaluates the impact of the tightening in price cap by OFWAT and of other operational factors on the efficiency of water and sewerage companies in England and Wales using a mixture of data envelopment analysis and stochastic frontier analysis. Previous empirical results suggest that...

This paper discusses a dispute heard in Britain in 1992 by the Copyright Tribunal concerning royalty rates for compositions used on records, and sets out a framework for analysing such problems, which can be summarized as follows. A recording requires inputs of at least three kinds — the...

Recent advances in telecommunications, particularly using fibre technologies, permit many services based on data-processing to be performed anywhere in the world. They thus become tradable and subject to the laws of comparative advantage. A good example is data-processing within large...