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Response to Peter Monkhouse

Author

Listed:
  • Nick Wills-Johnson

    (Centre for Research in Applied Economics; Curtin University of Technology; GPO Box; U1987; Perth; Western Australia; 6845)

Abstract

The regulation of infrastructure by the ACCC and other economic regulators in Australia is based around net present value estimation techniques. Recently; Monkhouse (2007) suggested that real options valuation would provide better incentives for investment in infrastructure; but did not elucidate how a regulatory system based on real options valuation should operate. This paper endeavours to sketch the outlines of such a system; and finds that it has considerable promise as an alternative to the status quo; provided an appropriate technique for addressing monopoly rents can be developed.

Suggested Citation

  • Nick Wills-Johnson, 2010. "Response to Peter Monkhouse," Economic Analysis and Policy, Elsevier, vol. 40(1), pages 112-123, March.
    • Handle: RePEc:eee:ecanpo:v40:y:2010:i:1:p:112-123
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    Cited by:

    1. Nam Foo & Harry Bloch & Ruhul Salim, 2017. "Assessing the timing of mining investment under tax policy uncertainty: the case of the Asia-Pacific region," Mineral Economics, Springer;Raw Materials Group (RMG);Luleå University of Technology, vol. 30(2), pages 117-139, July.

    More about this item

    Keywords

    Railways; economic regulation;

    JEL classification:

    • K23 - Law and Economics - - Regulation and Business Law - - - Regulated Industries and Administrative Law
    • L43 - Industrial Organization - - Antitrust Issues and Policies - - - Legal Monopolies and Regulation or Deregulation
    • L92 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Railroads and Other Surface Transportation

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