Profit-sharing regulation: an economic appraisal
The stock market, take-over bidders, executive pay setters, perhaps Stephen Littlechild himself, even last summer’s weather, all seem to have been undermining RPI-X price-cap regulation. Until recently, price-cap regulation was regarded as demonstrably superior to US-style rate-of-return regulation, and regulatory reform in several countries has embraced price-cap regulation.2 But in Britain, where price- cap regulation originated, the case now appears to be less compelling: price-cap regulation is perceived by some as conferring unwarranted profits on the utilities and imposing unsustainable demands on regulators. As a consequence, many people believe that we are slipping inexorably into some form of profit regulation.
Volume (Year): 17 (1996)
Issue (Month): 1 (February)
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- Braeutigam, Ronald R., 1993. "A regulatory bargain for diversified enterprises," International Journal of Industrial Organization, Elsevier, vol. 11(1), pages 1-20, March.
- H.S. Shin, 1994. "News Management and the Value of Firms," RAND Journal of Economics, The RAND Corporation, vol. 25(1), pages 58-71, Spring.
- Greenstein, Shane & McMaster, Susan & Spiller, Pablo T, 1995. "The Effect of Incentive Regulation on Infrastructure Modernization: Local Exchange Companies' Deployment of Digital Technology," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 4(2), pages 187-236, Summer.
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