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A Regulatory Adjustment Process for Optimal Pricing by Multiproduct Monopoly Firms

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Author Info

  • Ingo Vogelsang
  • Jorg Finsinger

Abstract

This paper describes an incentive mechanism that is shown to enforce the use of Ramsey prices by multiproduct monopolies. The constraint given is simple. It limits information requirements on the regulatory agency to bookkeeping data of the firm. Its implementation could be easily controlled by outside courts or auditors. The process, therefore, makes use of invisible hand properties shifting the workload of welfare optimization from the regulatory agency to the regulated firm.

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Bibliographic Info

Article provided by The RAND Corporation in its journal Bell Journal of Economics.

Volume (Year): 10 (1979)
Issue (Month): 1 (Spring)
Pages: 157-171

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Handle: RePEc:rje:bellje:v:10:y:1979:i:spring:p:157-171

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Citations

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Cited by:
  1. Ingo Vogelsang, 2006. "Electricity Transmission Pricing and Performance-based Regulation," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4), pages 97-126.
  2. Timothy J. Brennan, 2009. "The Challenges of Climate for Energy Markets," UMBC Economics Department Working Papers 09-111, UMBC Department of Economics, revised 01 Sep 2009.
  3. M. Ziliotti, 2007. "I prezzi di accesso alle reti di servizi di pubblica utilità: una sintesi teorica," Economics Department Working Papers 2007-EP01, Department of Economics, Parma University (Italy).
  4. John E. Kwoka, 1993. "Implementing price cops in telecommunications," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 12(4), pages 726-752.
  5. Brennan, Timothy J., 2009. "The Challenges of Climate for Energy Markets," Discussion Papers dp-09-32, Resources For the Future.
  6. Makoto Tanaka, 2007. "Extended Price Cap Mechanism for Efficient Transmission Expansion under Nodal Pricing," Networks and Spatial Economics, Springer, vol. 7(3), pages 257-275, September.
  7. Valentini, Edilio, 2013. "Indirect Taxation, Public Pricing and Price Cap Regulation: a Synthesis," MPRA Paper 50889, University Library of Munich, Germany.
  8. Alessandro Marra, 2006. "Mixed Public-Private Enterprises in Europe: Economic Theory and an Empirical Analysis of Italian Water Utilities," Bruges European Economic Research Papers 4, European Economic Studies Department, College of Europe.
  9. Ingo Vogelsang, 2003. "Price Regulation of Access to Telecommunications Networks," Journal of Economic Literature, American Economic Association, vol. 41(3), pages 830-862, September.
  10. Graeme Guthrie, 2006. "Regulating Infrastructure: The Impact on Risk and Investment," Journal of Economic Literature, American Economic Association, vol. 44(4), pages 925-972, December.
  11. Ingo Vogelsang, 2010. "Incentive Regulation, Investments and Technological Change," CESifo Working Paper Series 2964, CESifo Group Munich.

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