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Price cap regulation and the ratchet effect: a generalized index approach

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  • Anna Bottasso
  • Maurizio Conti

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  • Anna Bottasso & Maurizio Conti, 2009. "Price cap regulation and the ratchet effect: a generalized index approach," Journal of Productivity Analysis, Springer, vol. 32(3), pages 191-201, December.
    • Handle: RePEc:kap:jproda:v:32:y:2009:i:3:p:191-201
    DOI: 10.1007/s11123-009-0140-z
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    References listed on IDEAS

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    1. Harry Bloch & Gary Madden & Grant Coble‐Neal & Scott J. Savage, 2001. "The Cost Structure of Australian Telecommunications," The Economic Record, The Economic Society of Australia, vol. 77(239), pages 338-350, December.
    2. Subal C. Kumbhakar, 2004. "Productivity and technical change: Measurement and testing," Empirical Economics, Springer, vol. 29(1), pages 185-191, January.
    3. Jean-Jacques Laffont & Jean Tirole, 1993. "A Theory of Incentives in Procurement and Regulation," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262121743, December.
    4. repec:bla:ecorec:v:77:y:2001:i:239:p:338-50 is not listed on IDEAS
    5. Baltagi, Badi H & Griffin, James M & Rich, Daniel P, 1995. "The Measurement of Firm-Specific Indexes of Technical Change," The Review of Economics and Statistics, MIT Press, vol. 77(4), pages 654-663, November.
    6. Massimo Filippini & Nevenka Hrovatin & Jelena Zorić, 2008. "Cost efficiency of Slovenian water distribution utilities: an application of stochastic frontier methods," Journal of Productivity Analysis, Springer, vol. 29(2), pages 169-182, April.
    7. Laffont, Jean-Jacques, 1994. "The New Economics of Regulation Ten Years After," Econometrica, Econometric Society, vol. 62(3), pages 507-537, May.
    8. Monica Giulietti & Catherine Waddams Price, 2005. "Incentive Regulation and Efficient Pricing," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 76(1), pages 121-149, March.
    9. Bottasso, Anna & Conti, Maurizio & Piacenz, Massimiliano & Vannoni, Davide, 2011. "The appropriateness of the poolability assumption for multiproduct technologies: Evidence from the English water and sewerage utilities," International Journal of Production Economics, Elsevier, vol. 130(1), pages 112-117, March.
    10. Baltagi, Badi H & Griffin, James M, 1988. "A General Index of Technical Change," Journal of Political Economy, University of Chicago Press, vol. 96(1), pages 20-41, February.
    11. Hunt, Lester C & Lynk, Edward L, 1995. "Privatisation and Efficiency in the UK Water Industry: An Empirical Analysis," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 57(3), pages 371-388, August.
    12. Ellen M. Pint, 1992. "Price-Cap versus Rate-of-Return Regulation in a Stochastic-Cost Model," RAND Journal of Economics, The RAND Corporation, vol. 23(4), pages 564-578, Winter.
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    Citations

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    Cited by:

    1. Molinos-Senante, María & Maziotis, Alexandros & Sala-Garrido, Ramón, 2014. "The Luenberger productivity indicator in the water industry: An empirical analysis for England and Wales," Utilities Policy, Elsevier, vol. 30(C), pages 18-28.
    2. María Molinos-Senante & Simon Porcher & Alexandros Maziotis, 2017. "Impact of regulation on English and Welsh water-only companies: an input-distance function approach," Post-Print hal-02146495, HAL.
    3. Subal Kumbhakar & Alan Horncastle, 2010. "Improving the econometric precision of regulatory models," Journal of Regulatory Economics, Springer, vol. 38(2), pages 144-166, October.
    4. Mocholi-Arce, Manuel & Sala-Garrido, Ramon & Molinos-Senante, Maria & Maziotis, Alexandros, 2021. "Water company productivity change: A disaggregated approach accounting for changes in inputs and outputs," Utilities Policy, Elsevier, vol. 70(C).
    5. Vitor Miguel Ribeiro, 2014. "Anticipating the long-term ideology of a policymaker," FEP Working Papers 553, Universidade do Porto, Faculdade de Economia do Porto.
    6. Mohsen Afsharian, 2020. "A metafrontier-based yardstick competition mechanism for incentivising units in centrally managed multi-group organisations," Annals of Operations Research, Springer, vol. 288(2), pages 681-700, May.
    7. María Molinos-Senante & Ramon Sala-Garrido, 2017. "Decomposition of Productivity Growth of Water and Sewerage Companies: An Empirical Approach for Chile," Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), Springer;European Water Resources Association (EWRA), vol. 31(13), pages 4309-4321, October.
    8. Ariel Casarin, 2014. "Productivity throughout regulatory cycles in gas utilities," Journal of Regulatory Economics, Springer, vol. 45(2), pages 115-137, April.
    9. Pavlos Almanidis & Giannis Karagiannis & Robin Sickles, 2015. "Semi-nonparametric spline modifications to the Cornwell–Schmidt–Sickles estimator: an analysis of US banking productivity," Empirical Economics, Springer, vol. 48(1), pages 169-191, February.
    10. Bottasso, Anna & Conti, Maurizio & Piacenz, Massimiliano & Vannoni, Davide, 2011. "The appropriateness of the poolability assumption for multiproduct technologies: Evidence from the English water and sewerage utilities," International Journal of Production Economics, Elsevier, vol. 130(1), pages 112-117, March.
    11. Biggar, Darryl, 2022. "Seven outstanding issues in energy network regulation," Energy Economics, Elsevier, vol. 115(C).
    12. Sala-Garrido, Ramon & Mocholi-Arce, Manuel & Molinos-Senante, Maria & Maziotis, Alexandros, 2021. "Assessing the marginal cost of reducing greenhouse gas emissions in the English and Welsh water and sewerage industry: A parametric approach," Utilities Policy, Elsevier, vol. 70(C).
    13. Cullmann, Astrid & Nieswand, Maria, 2015. "Regulation and Investment Incentives in Electricity Distribution," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 113090, Verein für Socialpolitik / German Economic Association.
    14. Maziotis, Alexandros & Molinos-Senante, Maria, 2022. "The impact of model specification and environmental variables on measuring the overall technical efficiency of water and sewerage services: Evidence from Chile," Structural Change and Economic Dynamics, Elsevier, vol. 61(C), pages 191-198.

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    More about this item

    Keywords

    Regulation; Technical change; Price cap; Ratchet effect; Incentives; D21; D24; L51; L95;
    All these keywords.

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
    • L95 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Gas Utilities; Pipelines; Water Utilities

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