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Efficiency Measures in Regulated Industries : History, Outstanding Challenges, and Emerging Solutions

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  • Laurens Cherchye

    (Center for Economic Studies - UCL - Université Catholique de Louvain = Catholic University of Louvain)

  • Bram de Rock

    (ECARES - European Center for Advanced Research in Economics and Statistics - ULB - Université libre de Bruxelles)

  • Antonio Estache

    (ECARES - European Center for Advanced Research in Economics and Statistics - ULB - Université libre de Bruxelles)

  • Marijn Verschelde

    (LEM - Lille économie management - UMR 9221 - UA - Université d'Artois - UCL - Université catholique de Lille - Université de Lille - CNRS - Centre National de la Recherche Scientifique)

Abstract

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  • Laurens Cherchye & Bram de Rock & Antonio Estache & Marijn Verschelde, 2018. "Efficiency Measures in Regulated Industries : History, Outstanding Challenges, and Emerging Solutions," Post-Print hal-01921865, HAL.
    • Handle: RePEc:hal:journl:hal-01921865
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    References listed on IDEAS

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    1. Laurens Cherchye & Bram De Rock & Frederic Vermeulen, 2008. "Analyzing Cost-Efficient Production Behavior Under Economies of Scope: A Nonparametric Methodology," Operations Research, INFORMS, vol. 56(1), pages 204-221, February.
    2. Saeideh Fallah-Fini & Konstantinos Triantis & Andrew Johnson, 2014. "Reviewing the literature on non-parametric dynamic efficiency measurement: state-of-the-art," Journal of Productivity Analysis, Springer, vol. 41(1), pages 51-67, February.
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    5. Rafael Di Tella & Alexander Dyck, 2008. "Cost Reductions, Cost Padding, and Stock Market Prices: the Chilean Experience with Price-Cap Regulation," Economía Journal, The Latin American and Caribbean Economic Association - LACEA, vol. 0(Spring 20), pages 155-196, January.
    6. Laurens Cherchye & Bram De Rock & Bart Dierynck & Filip Roodhooft & Jeroen Sabbe, 2013. "Opening the “Black Box” of Efficiency Measurement: Input Allocation in Multioutput Settings," Operations Research, INFORMS, vol. 61(5), pages 1148-1165, October.
    7. Armstrong, Mark & Sappington, David E.M., 2007. "Recent Developments in the Theory of Regulation," Handbook of Industrial Organization, in: Mark Armstrong & Robert Porter (ed.), Handbook of Industrial Organization, edition 1, volume 3, chapter 27, pages 1557-1700, Elsevier.
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    12. Laurens Cherchye & Thomas Demuynck & Bram Rock & Kristof Witte, 2014. "Non‐parametric Analysis of Multi‐output Production with Joint Inputs," Economic Journal, Royal Economic Society, vol. 124(577), pages 735-775, June.
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    14. Lucia Foster & John Haltiwanger & Chad Syverson, 2008. "Reallocation, Firm Turnover, and Efficiency: Selection on Productivity or Profitability?," American Economic Review, American Economic Association, vol. 98(1), pages 394-425, March.
    15. Dani Rodrik, 2006. "Goodbye Washington Consensus, Hello Washington Confusion? A Review of the World Bank's Economic Growth in the 1990s: Learning from a Decade of Reform," Journal of Economic Literature, American Economic Association, vol. 44(4), pages 973-987, December.
    16. Edwards, Sebastian, 1998. "Openness, Productivity and Growth: What Do We Really Know?," Economic Journal, Royal Economic Society, vol. 108(447), pages 383-398, March.
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    18. Andrew B. Bernard & Stephen J. Redding & Peter K. Schott, 2011. "Multiproduct Firms and Trade Liberalization," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 126(3), pages 1271-1318.
    19. Ingo Vogelsang, 2012. "Incentive Regulation, Investments and Technological Change," Chapters, in: Gerald R. Faulhaber & Gary Madden & Jeffrey Petchey (ed.), Regulation and the Performance of Communication and Information Networks, chapter 4, Edward Elgar Publishing.
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    21. Estache, Antonio & Gomez-Lobo, Andres & Leipziger, Danny, 2001. "Utilities Privatization and the Poor: Lessons and Evidence from Latin America," World Development, Elsevier, vol. 29(7), pages 1179-1198, July.
    22. Coelli, Tim & Perelman, Sergio, 1999. "A comparison of parametric and non-parametric distance functions: With application to European railways," European Journal of Operational Research, Elsevier, vol. 117(2), pages 326-339, September.
    23. Chisari, Omar & Estache, Antonio & Romero, Carlos, 1999. "Winners and Losers from the Privatization and Regulation of Utilities: Lessons from a General Equilibrium Model of Argentina," The World Bank Economic Review, World Bank, vol. 13(2), pages 357-378, May.
    24. Ackerberg, Daniel & Caves, Kevin & Frazer, Garth, 2006. "Structural identification of production functions," MPRA Paper 38349, University Library of Munich, Germany.
    25. Jeffry M. Netter & William L. Megginson, 2001. "From State to Market: A Survey of Empirical Studies on Privatization," Journal of Economic Literature, American Economic Association, vol. 39(2), pages 321-389, June.
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    27. Jean-Jacques Laffont & Jean Tirole, 1993. "A Theory of Incentives in Procurement and Regulation," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262121743, April.
    28. Hanoch, Giora & Rothschild, Michael, 1972. "Testing the Assumptions of Production Theory: A Nonparametric Approach," Journal of Political Economy, University of Chicago Press, vol. 80(2), pages 256-275, March-Apr.
    29. Jan De Loecker & Catherine Fuss & Jo Van Biesebroeck, 2014. "International competition and firm performance: evidence from Belgium," Working Papers of Department of Economics, Leuven 553099, KU Leuven, Faculty of Economics and Business (FEB), Department of Economics, Leuven.
    30. John Asker & Allan Collard-Wexler & Jan De Loecker, 2014. "Dynamic Inputs and Resource (Mis)Allocation," Journal of Political Economy, University of Chicago Press, vol. 122(5), pages 1013-1063.
    31. James Levinsohn & Amil Petrin, 2003. "Estimating Production Functions Using Inputs to Control for Unobservables," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 70(2), pages 317-341.
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    33. Varian, Hal R, 1984. "The Nonparametric Approach to Production Analysis," Econometrica, Econometric Society, vol. 52(3), pages 579-597, May.
    34. David Sappington & Dennis Weisman, 2010. "Price cap regulation: what have we learned from 25 years of experience in the telecommunications industry?," Journal of Regulatory Economics, Springer, vol. 38(3), pages 227-257, December.
    35. Antonio Estache & Juan Manuel Campos & Lourdes Trujillo, 2003. "Processes and accounting matter for regulators: Learning from Argentina's railways privatization," ULB Institutional Repository 2013/44151, ULB -- Universite Libre de Bruxelles.
    36. Dollar, David, 1992. "Outward-Oriented Developing Economies Really Do Grow More Rapidly: Evidence from 95 LDCs, 1976-1985," Economic Development and Cultural Change, University of Chicago Press, vol. 40(3), pages 523-544, April.
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    Cited by:

    1. Antonio Estache, 2020. "Infrastructure “Privatization”: When Ideology Meets Evidence," Working Papers ECARES 2020-28, ULB -- Universite Libre de Bruxelles.
    2. Bertoméu-Sánchez, Salvador & Estache, Antonio, 2017. "Unbundling political and economic rationality: A non-parametric approach tested on transport infrastructure in Spain," Transport Policy, Elsevier, vol. 59(C), pages 181-195.

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