Open Ownership - Not Common Carriage
dc.contributor.author | Alger, Dan | |
dc.date.accessioned | 2015-02-11T21:38:57Z | |
dc.date.accessioned | 2022-07-06T22:42:57Z | |
dc.date.available | 2015-02-11T21:38:57Z | |
dc.date.available | 2022-07-06T22:42:57Z | |
dc.date.copyright | 1/12/1998 | |
dc.date.issued | 1998 | |
dc.description.abstract | We consider regulating natural monopolies with open ownership and competitive rules as a substitute for common carriage regulation and illustrate it with an application for natural gas pipelines. A single set of production assets exhausts any economies of scale or scope while owners compete with each other due to incentives from open ownership rules that promote efficient investment choices primarily by breaking down barriers to entry and competitive rules that promote an efficient secondary market. We argue that regulating a natural monopoly with these rules in a market structure we call a competitive joint venture significantly increases the efficiency of pricing output and capacity choices and may dramatically reduce regulatory costs when compared to regulating with common carriage. | en_NZ |
dc.format | en_NZ | |
dc.identifier.uri | https://ir.wgtn.ac.nz/handle/123456789/19031 | |
dc.language.iso | en_NZ | |
dc.publisher | Te Herenga Waka—Victoria University of Wellington | en_NZ |
dc.rights | Permission to publish research outputs of the New Zealand Institute for the Study of Competition and Regulation has been granted to the Victoria University of Wellington Library. Refer to the permission letter in record: https://ir.wgtn.ac.nz/handle/123456789/18870 | en_NZ |
dc.subject | open ownership | en_NZ |
dc.title | Open Ownership - Not Common Carriage | en_NZ |
dc.type | Text | en_NZ |
vuwschema.contributor.unit | New Zealand Institute for the Study of Competition and Regulation | en_NZ |
vuwschema.contributor.unit | Victoria Business School: Orauariki | en_NZ |
vuwschema.subject.anzsrcfor | 149999 Economics not elsewhere classified | en_NZ |
vuwschema.subject.anzsrcforV2 | 389999 Other economics not elsewhere classified | en_NZ |
vuwschema.type.vuw | Working or Occasional Paper | en_NZ |