An imperfectly-informed regulator needs to procure multiple units of some good (e.g., green energy, market liquidity, pollution reduction, land conservation) that can be produced with heterogeneous technologies at various costs. How should she optimally procure these units? Should she run...

Economic arguments in support of increases or decreases in accounting and auditing regulation have generally not been supported by empirical evidence as to the magnitude of the costs and benefits. The step-change in the scale of such regulation at Lloyd's between 1982 and 1985 provides evidence...

This paper provides an overview of the development of electric power transmission access, pricing and investment policies in the U.S. over the last 15 years and evaluates the current state of those policies. It includes a discussion of pre-liberalisation transmission access and pricing policies,...

Following the liberalisation of network industries there has been a number of innovations in incentive regulation. This paper examines the effects of the application of norm models within an ex-post incentive regulation of electricity distribution networks in Sweden. We first examine the...

Driven by fear of underinvestment in network assets, merchant investment in electricity transmission networks (MTI) is now legally allowed. Given that MTI is a real possibility, regulators face a new set of questions. After classifying different types of MTI, the paper raises and analyses...

This paper explores the empirical effects of competition on technical efficiency in the context of electricity industry restructuring. Restructuring programs adopted by many U.S. states made utilities residual claimants to cost savings and increased their exposure to competitive markets. We...

Electricity transmission has emerged as critical for successfully liberalising power markets. This paper surveys the issues currently under discussion and provides a framework for the remaining papers in this issue. We conclude that signalling the efficient location of generation investment...