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The Costs of Public and Private Gas Enterprises in Late 19th Century Britain

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  • Millward, Robert
  • Ward, Robert

Abstract

Data for a sample of thirty-five U.K. gas undertakings for 1898 was used to estimate a translog cost function. Labor accou nted for less than 15 percent of total costs. Changes in outlays on c oal have significant effects on total costs. Economies of scale exist but tend to disappear at production volumes which are near to averag e for the provincial gas undertakings. After controlling for factor p rices, population density, and output levels, municipal enterprises a re shown to have lower costs than the private companies though the ef fect is small and statistically insignificant. Copyright 1987 by Royal Economic Society.

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  • Millward, Robert & Ward, Robert, 1987. "The Costs of Public and Private Gas Enterprises in Late 19th Century Britain," Oxford Economic Papers, Oxford University Press, vol. 39(4), pages 719-737, December.
    • Handle: RePEc:oup:oxecpp:v:39:y:1987:i:4:p:719-37
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    Cited by:

    1. Robert MILLWARD, 2006. "The British privatisation programme: a long term perspective," Departmental Working Papers 2006-07, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
    2. Giovanni Fraquelli & Roberto Giandrone, 1997. "Costs, Technology And Ownership Form Of Natural Gas Distribution In Italy," CERIS Working Paper 199713, CNR-IRCrES Research Institute on Sustainable Economic Growth - Torino (TO) ITALY - former Institute for Economic Research on Firms and Growth - Moncalieri (TO) ITALY.
    3. Willner, Johan, 2001. "Ownership, efficiency, and political interference," European Journal of Political Economy, Elsevier, vol. 17(4), pages 723-748, November.

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