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Does yardstick regulation really work? Empirical evidence from Japan’s rail industry

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  • Fumitoshi Mizutani

    ()

  • Hideo Kozumi
  • Noriaki Matsushima

Abstract

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File URL: http://hdl.handle.net/10.1007/s11149-009-9097-0
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Bibliographic Info

Article provided by Springer in its journal Journal of Regulatory Economics.

Volume (Year): 36 (2009)
Issue (Month): 3 (December)
Pages: 308-323

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Handle: RePEc:kap:regeco:v:36:y:2009:i:3:p:308-323

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Web page: http://www.springerlink.com/link.asp?id=100298

Related research

Keywords: Yardstick regulation; Incentive regulation; Efficiency; Cost frontier function; L51; L53; L90; K23;

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References

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  1. Kridel, Donald J & Sappington, David E M & Weisman, Dennis L, 1996. "The Effects of Incentive Regulation in the Telecommunications Industry: A Survey," Journal of Regulatory Economics, Springer, vol. 9(3), pages 269-306, May.
  2. Antonioli, B. & Filippini, M., 2001. "The use of a variable cost function in the regulation of the Italian water industry," Utilities Policy, Elsevier, vol. 10(3-4), pages 181-187.
  3. Potters, Jan & Rockenbach, Bettina & Sadrieh, Abdolkarim & van Damme, Eric, 2004. "Collusion under yardstick competition: an experimental study," International Journal of Industrial Organization, Elsevier, vol. 22(7), pages 1017-1038, September.
  4. Antonio Estache & Marianela Gonzalez & Lourdes Trujillo, 2002. "Efficiency Gains from Port Reform and the Potential for Yardstick Competition: Lessons from Mexico," ULB Institutional Repository 2013/43983, ULB -- Universite Libre de Bruxelles.
  5. Marques, Rui Cunha, 2006. "A yardstick competition model for Portuguese water and sewerage services regulation," Utilities Policy, Elsevier, vol. 14(3), pages 175-184, September.
  6. Jamasb, Tooraj & Pollitt, Michael, 2003. "International benchmarking and regulation: an application to European electricity distribution utilities," Energy Policy, Elsevier, vol. 31(15), pages 1609-1622, December.
  7. Fumitoshi Mizutani, 2004. "Privately Owned Railways' Cost Function, Organization Size and Ownership," Journal of Regulatory Economics, Springer, vol. 25(3), pages 297-322, 05.
  8. Powell, Kirsty & Szymanski, Stefan, 1997. "Regulation through comparative performance evaluation," Utilities Policy, Elsevier, vol. 6(4), pages 293-301, December.
  9. Jamasb, T. & Pollitt, M., 2000. "Benchmarking and regulation: international electricity experience," Utilities Policy, Elsevier, vol. 9(3), pages 107-130, September.
  10. Joel Sobel, 1999. "A Reexamination of Yardstick Competition," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 8(1), pages 33-60, 03.
  11. Hendrik Jürges & Wolfram F. Richter & Kerstin Schneider, 2005. "Teacher quality and incentives - Theoretical and empirical effects of standards on teacher quality," MEA discussion paper series 05091, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
  12. Rossi, Martin Antonio & Ruzzier, Christian Alejandro, 2000. "On the regulatory application of efficiency measures," Utilities Policy, Elsevier, vol. 9(2), pages 81-92, June.
  13. Thomas Weyman-Jones, 2001. "Yardstick and incentive issues in UK electricity distribution price controls," Fiscal Studies, Institute for Fiscal Studies, vol. 22(2), pages 233-247, June.
  14. Shuttleworth, Graham, 2005. "Benchmarking of electricity networks: Practical problems with its use for regulation," Utilities Policy, Elsevier, vol. 13(4), pages 310-317, December.
  15. Filippini, Massimo & Hrovatin, Nevenka & Zoric, Jelena, 2004. "Efficiency and regulation of the Slovenian electricity distribution companies," Energy Policy, Elsevier, vol. 32(3), pages 335-344, February.
  16. Dag Dalen & Andres Gómez-Lobo, 2003. "Yardsticks on the road: Regulatory contracts and cost efficiency in the Norwegian bus industry," Transportation, Springer, vol. 30(4), pages 371-386, November.
  17. Battese, G E & Coelli, T J, 1995. "A Model for Technical Inefficiency Effects in a Stochastic Frontier Production Function for Panel Data," Empirical Economics, Springer, vol. 20(2), pages 325-32.
  18. Helm, Dieter, 1994. "British Utility Regulation: Theory, Practice, and Reform," Oxford Review of Economic Policy, Oxford University Press, vol. 10(3), pages 17-39, Autumn.
  19. Yatchew, Adonis, 2001. "Incentive Regulation of Distributing Utilities Using Yardstick Competition," The Electricity Journal, Elsevier, vol. 14(1), pages 56-60.
  20. Savage, Ian, 1997. "Scale economies in United States rail transit systems," Transportation Research Part A: Policy and Practice, Elsevier, vol. 31(6), pages 459-473, November.
  21. Sawkins, John W., 1995. "Yardstick competition in the English and Welsh water industry Fiction or reality?," Utilities Policy, Elsevier, vol. 5(1), pages 27-36, January.
  22. Kumbhakar, Subal C. & Hjalmarsson, Lennart, 1998. "Relative performance of public and private ownership under yardstick competition: electricity retail distribution," European Economic Review, Elsevier, vol. 42(1), pages 97-122, January.
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Citations

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Cited by:
  1. Mountain, Bruce & Littlechild, Stephen, 2010. "Comparing electricity distribution network revenues and costs in New South Wales, Great Britain and Victoria," Energy Policy, Elsevier, vol. 38(10), pages 5770-5782, October.
  2. Mulder, Machiel & Haan, Marco A. & Dijkstra, Peter T., 2014. "Industry structure and collusion with uniform yardstick competition: theory and experiments," Research Report 14010-EEF, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
  3. Sakai, Hiroki & Takahashi, Yoshinori, 2013. "Ten years after bus deregulation in Japan: An analysis of institutional changes and cost efficiency," Research in Transportation Economics, Elsevier, vol. 39(1), pages 215-225.
  4. Fumitoshi Mizutani & Shuji Uranishi, 2013. "Does vertical separation reduce cost? An empirical analysis of the rail industry in European and East Asian OECD Countries," Journal of Regulatory Economics, Springer, vol. 43(1), pages 31-59, January.

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