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Efficiency and Productivity Analysis in Regulation and Governance

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Abstract

This paper surveys the application of efficiency and productivity analysis to recent regulatory experience, especially in Europe. From a review of regulatory case studies, particularly of network industries, it is clear that regulatory practice differs from theoretical precedent in choice of methodology, sample size, model specification and price or revenue control implementation. A principal-agent model of linear regulatory contracts is used to understand this discrepancy, suggesting that efficiency and productivity analysis has been used to capture economic rent rather than to provide incentives for efficiency. Predictions of the model are used to investigate other assumptions in efficiency and productivity analysis.

Suggested Citation

  • Thomas Weyman-Jones, 2007. "Efficiency and Productivity Analysis in Regulation and Governance," Discussion Paper Series 2007_02, Department of Economics, Loughborough University, revised Jan 2007.
    • Handle: RePEc:lbo:lbowps:2007_02
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    File URL: http://www.lboro.ac.uk/departments/ec/RePEc/lbo/lbowps/WJ_NAPW4_06.pdf
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    More about this item

    Keywords

    regulation; data envelopment analysis; stochastic frontier analysis.;
    All these keywords.

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation

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