Detail Dynamics of Price Regulation   Oleh:  Biglaiser, Gary ; Riordan, Michael Jenis: Article from Bulletin/Magazine Dalam koleksi: The Rand Journal of Economics vol. 31 no. 4 (2000), page 744-767. Topik: PRICE REGULATION; dynamics; price regulation Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: RR10.4 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel We study the dynamics of price regulation for an industry adjusting to exogenous technological progress. First, we characterize the optimal capacity path and replacement cycles in a neoclassical investment model. Second, we show that naive rate - o f - return regulation, which ignores components of economic depreciation, eventually results in a deficient level of capacity due to excessively high retail prices burdened by the need to recover the underdepreciated costs of historical investments. Third, we explain how price - cap regulation leads to more efficient capital replacement decisions compared to naive rate - of - return regulation, and we show how finite price -cap horizons distort capital replacement decisions compared to optimal regulation. Finally, we interpret recent regulatory reforms in telecommunications markets. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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