This article presents an empirical study of market power in the British electricity industry.
Estimates of price-cost markups are derived using direct measures of marginal cost and …

India is the world's largest democracy, and second-largest developing country. For forty
years it has also been one of the most dirigiste and autarkic. The 1980s saw most …

Developed countries are the exception, not the rule. Billions of dollars of aid and countless
hours of advice notwithstanding, most countries have not been able to foster sustained …

We live in a time of great wealth and great opportunities, and where the creativity and
ingenuity of man has led to competences and technologies that have helped us solve or …

In many countries throughout the world, regulators are struggling to determine whether and
how to introduce competition into regulated industries. This essay examines the …

We report a social cost‐benefit analysis of the privatisation and restructuring of the Central
Electricity Generating Board which generated and transmitted all public electricity in …

Renewable portfolio standards (RPSs) for electricity generation are politically popular in
many US states although economic analysis suggests they are not first-best policies. We …

It is well known that comparative performance information (CPI) can enhance efficiency in
static principal-agent relationships by improving the trade-off between insurance and …

IN THIS lecture I would like to discuss some aspects of an old and broad question: in what
ways can competition promote economic efficiency? As far as resource allocation is …

Electricity sectors in both developed and developing countries have been subject to
restructuring to introduce private capital and increase competition. Although the effects of …