This paper takes as a starting point for developing deeper understandings the assumption that both regulatory bodies and the sectors in which they operate are institutions. The body of literature about the operation of institutions provides a means of understanding the actors arrangements rules...

Kevin Counsell presented Save it for a Sunny Day: The Value of Water Storage at an ISCR Seminar.

Australia and New Zealand provide a unique set of comparators with which to examine similarities and differences in approaches to the regulation of foreign direct investment (FDI). By examining experience with regulation of FDI in these two states we show how they act in the governance space to...

If the mooted takeover of TelstraClear (TCL) by Vodafone is to go ahead it will be the most significant non-regulatory structural change in the New Zealand telecommunications marketplace since the merger of TelstraSaturn and Clear Communications in December 2001. The merger is a game-changer...

Professor Glenn Boyle presented, The Cost of Capital: A Sceptic's View at an ISCR forum in August 2003.

Responsibility for approving proposed transmission investment programmes in New Zealand has recently been placed in the hands of a newly-formed government regulator. In this paper we develop an analytical framework for conceptualising the investment test proposed by this regulator. Our framework...

Electricity reform typically involves little regard to the possibility that customerownership might substitute for the "protections" of state ownership or for investor ownership under regulatory safeguards where market power is a concern. Recognising that regulation is itself costly and that...

Auction models have proved to be attractive to structural econometricians who, since the late 1980s, have made substantial progress in identifying and estimating these rich game-theoretic models of bidder behavior. We provide a guide to the literature in which we contrast the various...

This paper models a spectrum auction as a multi-unit auction where participantsuse the goods purchased to participate in a constrained multi-good downstream market. We use dynamic programming techniques to solve for the optimal bidding strategy for firms in a clock auction. Firms often value...

Conventional forest valuation approaches do not account for discretions foresters have in making key irreversible decisions such as when and if to harvest in the light of uncertain future decision variables. Furthermore where they are sufficiently sophisticated as to make explicit forecasts of...