Giulietti, Monica; Price, Catherine Waddams - In: Annals of Public and Cooperative Economics 76 (2005) 1, pp. 121-149
One objective of introducing incentive regulation to the newly privatized UK utilities over the past 20 years was to encourage efficient pricing structures. Caps have been imposed on average price levels, giving firms freedom to rebalance amongst prices within the basket. We test how firms have...