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The impact of productive efficiency and quality of a regulated local public utility on final goods prices and consumers welfare

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Author Info
Alessandro Petretto () (Università degli Studi di Firenze, Dipartimento di Scienze Economiche)

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Abstract

In this paper, we reconstruct the process by which the decisions of a regulated local public utility, in terms of productive efficiency and quality of the service provided, impact on prices of final consumption goods, supplied in a oligopolistic market operating in the same geographic area. We obtain some formula for these effects which can be quantified by estimating firms’ conditional input demand function of the public service and firms’ inverse demand function for this public good, non-rival, component. Finally, we draw the effects of productive efficiency and quality on consumer welfare and cost-of-living, via changes on tariffs, external effects and final goods prices.

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Publisher Info
Paper provided by Universita' degli Studi di Firenze, Dipartimento di Scienze Economiche in its series Working Papers Series with number wp2008_10.rdf.

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Length: 33 pag
Date of creation: 2008
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Handle: RePEc:frz:wpaper:wp2008_10.rdf

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Related research
Keywords: regulation; x-efficiency; oligopoly; consumer welfare;

Find related papers by JEL classification:
L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
D21 - Microeconomics - - Production and Organizations - - - Firm Behavior

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References listed on IDEAS
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  1. Creedy, John, 2000. "Measuring Welfare Changes and the Excess Burden of Taxation," Bulletin of Economic Research, Blackwell Publishing, vol. 52(1), pages 1-47, January.
    Other versions:
  2. 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.
  3. Raffaele Miniaci & Carlo Scarpa & Paola Valbonesi, 2007. "Distributional effects of price reforms in the Italian utility markets," "Marco Fanno" Working Papers 0050, Dipartimento di Scienze Economiche "Marco Fanno". [Downloadable!]
    Other versions:
  4. Bartle, Ian & Vass, Peter, 2007. "Independent economic regulation: A reassessment of its role in sustainable development," Utilities Policy, Elsevier, vol. 15(4), pages 261-269, December. [Downloadable!] (restricted)
  5. Bennett, John & Iossa, Elisabetta, 2006. "Building and managing facilities for public services," Journal of Public Economics, Elsevier, vol. 90(10-11), pages 2143-2160, November. [Downloadable!] (restricted)
    Other versions:
  6. Fare, Rolf, et al, 1989. "Multilateral Productivity Comparisons When Some Outputs Are Undesirable: A Nonparametric Approach," The Review of Economics and Statistics, MIT Press, vol. 71(1), pages 90-98, February. [Downloadable!] (restricted)
  7. Mark Armstrong & David E.M. Sappington, 2006. "Regulation, Competition and Liberalization," Journal of Economic Literature, American Economic Association, vol. 44(2), pages 325-366, June.
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  8. Owen, Gill, 2006. "Sustainable development duties: New roles for UK economic regulators," Utilities Policy, Elsevier, vol. 14(3), pages 208-217, September. [Downloadable!] (restricted)
  9. Picazo-Tadeo, Andres J. & Saez-Fernandez, Francisco J. & Gonzalez-Gomez, Francisco, 2008. "Does service quality matter in measuring the performance of water utilities," Utilities Policy, Elsevier, vol. 16(1), pages 30-38, March. [Downloadable!] (restricted)
  10. Behrens, Kristian & Thisse, Jacques-Francois, 2007. "Regional economics: A new economic geography perspective," Regional Science and Urban Economics, Elsevier, vol. 37(4), pages 457-465, July. [Downloadable!] (restricted)
  11. Paul Makdissi & Quentin Wodon, 2007. "Poverty-Reducing and Welfare-Improving Marginal Public Price and Price Cap Reforms," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 9(4), pages 683-698, 08. [Downloadable!] (restricted)
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  12. Mark Armstrong & Simon Cowan & John Vickers, 1994. "Regulatory Reform: Economic Analysis and British Experience," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262510790.
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