ELLIG, JEROME; HIGH, JACK - In: Contemporary Economic Policy 10 (1992) 1, pp. 39-51
Economists' debate over the public utility "regulatory contract" has increasingly focused on three issues created by sunk costs: (i) Protection of sunk capital, (ii) Division of "windfalls" in a world of uncertainty, and (Hi) Mechanisms to control the regulator who administers long-term...