This paper develops an econometric model of the valuation of electric utility shares. This model, based upon the Sharpe-Lintner capital market theory, yields indirect estimates of the marginal rate of time preference and average risk aversion of investors in electric utility shares during the...

Comparisons of alternative pollution control instruments over the past thirty years show quite disparate results for seemingly comparable situations. This research demonstrates how the magnitude of the estimated cost savings associated with incentive-based instruments is influenced by two...