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Property Rights, Regulation and Efficiency: A Further Comment on Australia's Two‐Airline Policy

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  • MICHAEL G. KIRBY
  • ROBERT P. ALBON

Abstract

A model of profit regulation under the Two‐Airline Policy suggests that the government‐owned firm will be less cost efficient than its private counterpart. Econometric evidence is presented to support this hypothesis. The analysis and evidence is contrary to a widely accepted view.

Suggested Citation

  • Michael G. Kirby & Robert P. Albon, 1985. "Property Rights, Regulation and Efficiency: A Further Comment on Australia's Two‐Airline Policy," The Economic Record, The Economic Society of Australia, vol. 61(2), pages 535-539, June.
    • Handle: RePEc:bla:ecorec:v:61:y:1985:i:2:p:535-539
    DOI: 10.1111/j.1475-4932.1985.tb02008.x
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    References listed on IDEAS

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    1. Davies, David G, 1971. "The Efficiency of Public versus Private Firms, The Case of Australia's Two Airlines," Journal of Law and Economics, University of Chicago Press, vol. 14(1), pages 149-165, April.
    2. Forsyth, P J & Hocking, R D, 1980. "Property Rights and Efficiency in a Regulated Environment: The Case of Australian Airlines," The Economic Record, The Economic Society of Australia, vol. 56(153), pages 182-185, June.
    3. Caves, Douglas W & Christensen, Laurits R, 1980. "The Relative Efficiency of Public and Private Firms in a Competitive Environment: The Case of Canadian Railroads," Journal of Political Economy, University of Chicago Press, vol. 88(5), pages 958-976, October.
    4. Davies, David G, 1977. "Property Rights and Economic Efficiency-The Australian Airlines Revisited," Journal of Law and Economics, University of Chicago Press, vol. 20(1), pages 223-226, April.
    5. Richard H. Spady & Ann F. Friedlaender, 1978. "Hedonic Cost Functions for the Regulated Trucking Industry," Bell Journal of Economics, The RAND Corporation, vol. 9(1), pages 159-179, Spring.
    6. Feigenbaum, Susan & Teeples, Ronald, 1983. "Public versus Private Water Delivery: A Hedonic Cost Approach," The Review of Economics and Statistics, MIT Press, vol. 65(4), pages 672-678, November.
    7. Davies, D G, 1980. "Property Rights and Efficiency in a Regulated Environment: Reply," The Economic Record, The Economic Society of Australia, vol. 56(153), pages 186-189, June.
    8. P. J. Forsyth & R. D. Hocking, 1980. "Property Rights and Efficiency in a Regulated Environment:The Case of Australian Airlines," The Economic Record, The Economic Society of Australia, vol. 56(153), pages 182-185, June.
    9. D. G. Davies, 1980. "Property Rights and Efficiency in a Regulated Environment:Reply," The Economic Record, The Economic Society of Australia, vol. 56(153), pages 186-189, June.
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    Cited by:

    1. John P. Formby & Paul D. Thistle & James P. Keeler, 1990. "Costs under Regulation and Deregulation: The Case of US Passenger Airlines," The Economic Record, The Economic Society of Australia, vol. 66(4), pages 308-321, December.
    2. Ronald Teeples & Susan Feigenbaum & David Glyer, 1986. "Public versus Private Water Delivery: Cost Comparisons," Public Finance Review, , vol. 14(3), pages 351-366, July.

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