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Reflections on Incentive Regulation

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Author Info
Stephen Littlechild () (Judge Institute of Management Studies, University of Cambridge)
Abstract

This paper reviews in turn the papers in this Symposium on incentive regulation. It adduces the UK experience with incentive regulation, particularly in the electricity sector, to evaluate, amongst other things, the reasons for development and adoption of this approach, the determinants of setting X, and the case for more advanced metering. It suggests, among other things, that price caps can be designed to facilitate the transition to retail competition, that a rise in complaints might be explicable in part by factors other than quality of service, that TELRIC pricing has yet to acknowledge fully the implications of time and lack of knowledge, and that a failure to recognise the impact of competition on quality and variety of service could underestimate the benefits of competition in supply. It recognises similarities and some differences between the UK experience and the accounts of regulators that have introduced incentive regulation in the US.

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Publisher Info
Article provided by Concept Economics in its journal Review of Network Economics.

Volume (Year): 2 (2003)
Issue (Month): 4 (December)
Pages: 289-315
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:rne:rneart:v:2:y:2003:i:4:p:289-315

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Related research
Keywords: incentive regulation; electricity; price-cap; United Kingdom;

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. William J. Baumol, 1971. "Optimal Depreciation Policy: Pricing the Products of Durable Assets," Bell Journal of Economics, The RAND Corporation, vol. 2(2), pages 638-656, Autumn. [Downloadable!] (restricted)
  2. Ai, Chunrong & Sappington, David E M, 2002. "The Impact of State Incentive Regulation on the U.S. Telecommunications Industry," Journal of Regulatory Economics, Springer, vol. 22(2), pages 133-59, September. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Francesca Stroffolini, 2008. "Access Price Cap Mechanisms and Industry Structure with Information Acquisition," CSEF Working Papers 193, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy. [Downloadable!]
  2. Ulrich Blum & Christian Growitsch & Niels Krap, 2006. "Network investment and the threat of regulation – preventing monopoly exploitation or infrastructure construction?," IWH Discussion Papers 7-06, Halle Institute for Economic Research. [Downloadable!]
  3. Carlos Pestana Barros & Rui Cunha Marques, 2008. "Performance of European Airports: Regulation, Ownership and Managerial Efficiency," Working Papers 2008/25, Department of Economics at the School of Economics and Management (ISEG), Technical University of Lisbon.. [Downloadable!]
  4. Ulrich Blum & Christian Growitsch & Niels Krap, 2007. "Broadband Investment and the Threat of Regulation: Preventing Monopoly Exploitation or Infrastructure Construction?," Review of Network Economics, Concept Economics, vol. 6(3), pages 342-354, September. [Downloadable!]
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