Twenty-five train operating companies (TOCs) were created between 1994-1997, as part of the restructuring process of the railway industry in Great Britain. The TOCs operate monopoly franchises for the provision of passenger rail services over certain routes - some of which continue to receive...

The paper analyzes how institutional elements affect the decision to file of risk neutral agents. In particular, we introduce an objective probability of winning given by the combination of a precedent-weight parameter (defining the type of legal system) and a transparency factor. 603,000...

This paper carries out non-parametric relative efficiency comparisons using an international sample of gas distribution utilities from two old and one new EU members, namely the Netherlands, the UK, and Slovenia. By conducting DEA on a cross-sectional sample of gas utilities, we discover that,...

This paper carries out non-parametric relative efficiency comparisons using an international sample of gas distribution utilities from two old and one new EU members, namely the Netherlands, the UK, and Slovenia. By conducting DEA on a cross-sectional sample of gas utilities, we discover that,...

Data envelopment analysis (DEA) is a method for assessing the comparative efficiencies of decision making units (e.g., banks and schools) by relating their output to their input levels. Restrictions are often imposed in these assessments to reflect prior judgments on the values of input and/or...