Land Economics articles from August 1995

Land Economics archives from August 1995

Contestability vs. competition - once more.(Special Issue: Public Utilities Regulation)
August 1, 1995... I. INTRODUCTION "Contestability" theory was advanced in 1982 by Baumol, Panzar, and Willig as a new theory of industrial organization (see Baumol 1982; Baumol, Panzar, and Willig 1982). It was candidly offered as an effort to overturn the core...

Electric utility holding companies: the new regulatory challenges.(Special Issue: Public Utilities Regulation)
August 1, 1995... I. HISTORICAL BACKGROUND Holding Companies before October 24, 1992 Before passage of the Public Utility Holding Company Act of 1935 (PUHCA), a small number of holding companies owned most utilities in the United States. A number of these...

Is the public utility concept obsolete?(Special Issue: Public Utilities Regulation)
August 1, 1995... I. INTRODUCTION It often is noted that economics is highly metaphorical. Of the many metaphors cherished there may be none more powerful and enduring than that of "the invisible hand." Attachment to this ideal, however, should not be...

Price cap regulation: problems and solutions.(Special Issue: Public Utilities Regulation)
August 1, 1995... I. INTRODUCTION Price cap regulation will soon be the dominant form of regulation in the telecommunications industry. Various academic economists claim that price caps will improve the economic performance of the telephone industry...

Contributions of neoclassical economics to public utility analysis.(Special Issue: Public Utilities Regulation)
August 1, 1995... I. INTRODUCTION Any review of the impacts of public utility regulation and opportunities for potential reform should include the contributions of neoclassical economics. Neoclassical economics is the dominant paradigm at present, and...

Efficient public investment in telecommunications infrastructure.(Special Issue: Public Utilities Regulation)
August 1, 1995... I. INTRODUCTION One of the central telecommunications policy issues being discussed in both state and national forums is the effect of regulatory programs and national initiatives upon the development of telecommunications...

Discretionary evolution: restructuring the electric utility industry.(Special Issue: Public Utilities Regulation)
August 1, 1995... I. INTRODUCTION The electric utility industry is undergoing major structural change. Much greater reliance is being placed on market forces for directing the deployment and utilization of electric power resources. The purpose of this...

Efficiency and equity in the transition to a new natural gas market.(Special Issue: Public Utilities Regulation)
August 1, 1995... I. INTRODUCTION Over the past few years, through a series of regulatory decisions and legislative actions, the natural gas industry has undergone a radical transformation. Primary responsibility for the purchase of gas supplies has...

The regulatory treatment of utility diversification. (includes appendix)(Special Issue: Public Utilities Regulation)
August 1, 1995... I. INTRODUCTION The diversification experiments of public utilities during the late 1970s and early 1980s have generated a mixed record. Whereas some undertakings contributed to improved earnings and profitability, many projects failed...

Structural change and the future of regulation.(Special Issue: Public Utilities Regulation)
August 1, 1995... I. INTRODUCTION The papers contained in this special issue of Land Economics reflect the wide range of topics associated with the changes that are transforming both the public utility industries and the institutions of social control....