The possibility of cost reduction through learning by gathering experience is important in many industries where organizational efficiency in production and management is an important determinant of costs. In these industries, the difference in unit costs of production between experienced firms...

This article describes a procedure that can be used to infer interesting information about the preferences of regulators from the pricing decisions they make. This is done by using an adaptation of the familiar Ramsey pricing model, which allows benefits derived from the consumption of different...

This article investigates the role played by rate base valuation rules in the context of rate of return regulation. It shows (1) that there is nothing inherently "fair" about any particular valuation rule, (2) that properly interpreted rate bases represent promises of future returns, (3) that...

Sharkey has conjectured that for a natural monopoly: (1) the core price vector of some output vector (which renders any partial supply of the output unprofitable) lies on the demand curve; and (2) such a price vector is sustainable, meaning that supply by an entrant would be unprofitable, even at...