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The effects of ownership form on profit maximization and cost minimization behavior within municipal and cooperative electrical distribution utilities

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  • Claggett, E. Jr.
  • Hollas, Daniel R.
  • Stansell, Stanley R.

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  • Claggett, E. Jr. & Hollas, Daniel R. & Stansell, Stanley R., 1995. "The effects of ownership form on profit maximization and cost minimization behavior within municipal and cooperative electrical distribution utilities," The Quarterly Review of Economics and Finance, Elsevier, vol. 35(35), pages 533-550.
    • Handle: RePEc:eee:quaeco:v:35:y:1995:i:35:p:533-550
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    References listed on IDEAS

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    1. Jensen, Michael C & Meckling, William H, 1979. "Rights and Production Functions: An Application to Labor-managed Firms and Codetermination," The Journal of Business, University of Chicago Press, vol. 52(4), pages 469-506, October.
    2. Peltzman, Sam, 1971. "Pricing in Public and Private Enterprises: Electric Utilities in the United States," Journal of Law and Economics, University of Chicago Press, vol. 14(1), pages 109-147, April.
    3. Lawrence J. Lau & Pan A. Yotopoulos, 1972. "Profit, Supply, and Factor Demand Functions," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 54(1), pages 11-18.
    4. George J. Stigler, 1971. "The Theory of Economic Regulation," Bell Journal of Economics, The RAND Corporation, vol. 2(1), pages 3-21, Spring.
    5. Mark J. Roberts, 1986. "Economies of Density and Size in the Production and Delivery of Electric Power," Land Economics, University of Wisconsin Press, vol. 62(4), pages 378-387.
    6. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
    7. John L. Mikesell & Patrick C. Mann, 1976. "Pricing by Rural Electric Cooperatives," Land Economics, University of Wisconsin Press, vol. 52(1), pages 96-102.
    8. Atkinson, Scott E & Halvorsen, Robert, 1980. "A Test of Relative and Absolute Price Efficiency in Regulated Utilities," The Review of Economics and Statistics, MIT Press, vol. 62(1), pages 81-88, February.
    9. Yotopoulos, Pan A & Lau, Lawrence J, 1973. "A Test for Relative Economic Efficiency: Some Further Results," American Economic Review, American Economic Association, vol. 63(1), pages 214-223, March.
    10. Leland Gerson Neuberg, 1977. "Two Issues in the Municipal Ownership of Electric Power Distribution," Bell Journal of Economics, The RAND Corporation, vol. 8(1), pages 303-323, Spring.
    11. Daniel R. Hollas & Stanley R. Stansell, 1991. "Regulation, Ownership Form, And The Economic Efficiency Of Rural Electric Distribution Cooperatives," The Review of Regional Studies, Southern Regional Science Association, vol. 21(2), pages 201-220, Summer.
    12. Daniel R. HOLLAS & Stanley R. STANSELL, 1994. "The Economic Efficiency Of Public Vs. Private Gas Distribution Utilities," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 65(2), pages 281-300, April.
    13. Fare, R. & Grosskopf, S. & Logan, J., 1985. "The relative performance of publicly-owned and privately-owned electric utilities," Journal of Public Economics, Elsevier, vol. 26(1), pages 89-106, February.
    14. Atkinson, Scott E. & Halvorsen, Robert, 1986. "The relative efficiency of public and private firms in a regulated environment: The case of U.S. electric utilities," Journal of Public Economics, Elsevier, vol. 29(3), pages 281-294, April.
    15. Furubotn, Eirik G & Pejovich, Svetozar, 1972. "Property Rights and Economic Theory: A Survey of Recent Literature," Journal of Economic Literature, American Economic Association, vol. 10(4), pages 1137-1162, December.
    16. De Alessi, Louis, 1983. "Property Rights, Transaction Costs, and X-Efficiency: An Essay in Economic Theory," American Economic Review, American Economic Association, vol. 73(1), pages 64-81, March.
    17. Meyer, Robert A, 1975. "Publicly Owned Versus Privately Owned Utilities: A Policy Choice," The Review of Economics and Statistics, MIT Press, vol. 57(4), pages 391-399, November.
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    Cited by:

    1. Hrozencik, R. Aaron, 2018. "Energy, Food, and Water; Electricity Cooperative Pricing and Groundwater Irrigation Decisions," 2018 Annual Meeting, August 5-7, Washington, D.C. 274322, Agricultural and Applied Economics Association.
    2. Meade, Richard & Söderberg, Magnus, 2020. "Is welfare higher when utilities are owned by customers instead of investors? Evidence from electricity distribution in New Zealand," Energy Economics, Elsevier, vol. 86(C).
    3. Greer, Monica Lynne, 2003. "Can rural electric cooperatives survive in a restructured US electric market? An empirical analysis," Energy Economics, Elsevier, vol. 25(5), pages 487-508, September.
    4. Chen, Tser-yieth, 2002. "An assessment of technical efficiency and cross-efficiency in Taiwan's electricity distribution sector," European Journal of Operational Research, Elsevier, vol. 137(2), pages 421-433, March.
    5. Richard Meade & Magnus Soderberg, 2017. "Welfare-Maximising Investors? – Utility Firm Performance with Heterogeneous Quality Preferences and Endogenous Ownership," Working Papers 2017-09, Auckland University of Technology, Department of Economics.

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