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Efficiency and Productivity Analysis in Regulation and Governance

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    Abstract

    This paper surveys the application of efficiency and productivity analysis to recent regulatory experience, especially in Europe. From a review of regulatory case studies, particularly of network industries, it is clear that regulatory practice differs from theoretical precedent in choice of methodology, sample size, model specification and price or revenue control implementation. A principal-agent model of linear regulatory contracts is used to understand this discrepancy, suggesting that efficiency and productivity analysis has been used to capture economic rent rather than to provide incentives for efficiency. Predictions of the model are used to investigate other assumptions in efficiency and productivity analysis.

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    File URL: http://www.lboro.ac.uk/departments/ec/RePEc/lbo/lbowps/WJ_NAPW4_06.pdf
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    Bibliographic Info

    Paper provided by Department of Economics, Loughborough University in its series Discussion Paper Series with number 2007_02.

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    Date of creation: Jan 2007
    Date of revision: Jan 2007
    Handle: RePEc:lbo:lbowps:2007_02

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    Keywords: regulation; data envelopment analysis; stochastic frontier analysis.;

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