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Regulierung vertikal strukturierter Industrien: Eine Analyse der Stromwirtschaftschaft auf Grundlage der neuen Institutionenökonomik

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  • Kumkar, Lars
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    Abstract

    This paper deals with the efficiency characteristics of alternative regulatory policies in the electricity sector. The analysis begins with the presentation of the analytical concept of the ?regulatory contract, which is based on the New Institutional Economics. The main part of the paper deals with the regulatory implications of the technical characteristics of the electricity supply industry. Firstly, it analyses optimal rules for regulating the price-level and the pricestructure. Secondly, the consequences of asymmetric information between Regulator and regulated firms are scrutinised. These informational asymmetries are of particular importance in the case of vertically integrated electricity companies. Several measures to improve the informational Situation of the regulator are discussed. The paper concludes with a summary of the main results.

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    File URL: http://econstor.eu/bitstream/10419/47207/1/258297786.pdf
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    Bibliographic Info

    Paper provided by Kiel Institute for the World Economy in its series Kiel Working Papers with number 874.

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    Date of creation: 1998
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    Handle: RePEc:kie:kieliw:874

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    1. Wu, Felix, et al, 1996. "Folk Theorems on Transmission Access: Proofs and Counterexamples," Journal of Regulatory Economics, Springer, vol. 10(1), pages 5-23, July.
    2. Robert Wilson, 1997. "Implementation of Priority Insurance in Power Exchange Markets," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1), pages 111-123.
    3. Spiller, Pablo T, 1996. "Institutions and Commitment," Industrial and Corporate Change, Oxford University Press, vol. 5(2), pages 421-52.
    4. Asher Wolinsky, 1994. "Regulation of Duopoly: Managed Competition vs. Regulated Monopolies," Discussion Papers 1116, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    5. Daniel F. Spulber, 1989. "Regulation and Markets," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262192756, January.
    6. Vickers, John, 1995. "Competition and Regulation in Vertically Related Markets," Review of Economic Studies, Wiley Blackwell, vol. 62(1), pages 1-17, January.
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    Cited by:
    1. Lars Kumkar, 1999. "Zur zukünftigen Regulierungspolitik für die deutsche Stromwirtschaft," Kiel Working Papers 929, Kiel Institute for the World Economy.

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