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Choosing a regulatory regime

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  • Terry Robinson

Abstract

Privately owned gas undertakings were subject to three different price regulation regimes during the inter-war years and were free to choose which regime applied to them. This paper investigates the determinants which caused undertakings to switch from one regime to another. Since the historical record gives us few clues about this, the plentiful statistical data is used in a probit analysis. The results suggest that larger, more efficient firms were more likely to switch regimes and that distribution costs were an important factor in the decision to switch.

Suggested Citation

  • Terry Robinson, 2003. "Choosing a regulatory regime," Applied Economics Letters, Taylor & Francis Journals, vol. 10(14), pages 879-881.
    • Handle: RePEc:taf:apeclt:v:10:y:2003:i:14:p:879-881
    DOI: 10.1080/1350485032000158627
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    References listed on IDEAS

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    1. Ingo Vogelsang & Jorg Finsinger, 1979. "A Regulatory Adjustment Process for Optimal Pricing by Multiproduct Monopoly Firms," Bell Journal of Economics, The RAND Corporation, vol. 10(1), pages 157-171, Spring.
    2. Jean-Jacques Laffont & Jean Tirole, 1993. "A Theory of Incentives in Procurement and Regulation," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262121743, December.
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