The Rate-of-Return Regulated Firm: Cost and Production Duality
AbstractA duality between cost and production is established for a firm subject to rate-of-return regulation. To this end, a rate-of-return regulated production function is defined and shown to exist. It is then shown how information regarding the unregulated technology can be obtained from the rate-of-return regulated cost function. With knowledge of the rate-of-return constraint, the rate-of-return regulated production function can be reconstructed.
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Bibliographic InfoArticle provided by The RAND Corporation in its journal Bell Journal of Economics.
Volume (Year): 14 (1983)
Issue (Month): 2 (Autumn)
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- Gerald Granderson & Finn Forsund, 2014. "Rate of return regulation and the Le Chatelier principle," Journal of Productivity Analysis, Springer, vol. 41(2), pages 263-275, April.
- Gerald Granderson & Diego Prior, 2013. "Environmental externalities and regulation constrained cost productivity growth in the US electric utility industry," Journal of Productivity Analysis, Springer, vol. 39(3), pages 243-257, June.
- Gerald Granderson, 2000. "Regulation, Open-Access Transportation, and Productive Efficiency," Review of Industrial Organization, Springer, vol. 16(3), pages 251-266, May.
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