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The treatment of Z factors in price cap plans

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  • Mark Newton Lowry
  • Lawrence Kaufmann

Abstract

Z factors are a commonly misunderstood but important component of price cap regulation. A typical concern is that they result in a double counting of special business conditions in the price cap index. This letter explains the mathematical logic for Z factors and shows that they need not result in double counting. Implementation issues are briefly discussed.

Suggested Citation

  • Mark Newton Lowry & Lawrence Kaufmann, 1995. "The treatment of Z factors in price cap plans," Applied Economics Letters, Taylor & Francis Journals, vol. 2(10), pages 406-408.
    • Handle: RePEc:taf:apeclt:v:2:y:1995:i:10:p:406-408
    DOI: 10.1080/758519002
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