English, Article edition: Incentive Regulation and Efficient Pricing Monica Giulietti; Catherine Waddams Price

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Bookmark: http://trove.nla.gov.au/version/167582
Physical Description
  • article
Language
  • English

Edition details

Title
  • Incentive Regulation and Efficient Pricing
Author
  • Monica Giulietti
  • Catherine Waddams Price
Physical Description
  • article
Notes
  • One objective of introducing incentive regulation to the newly privatized UK utilities over the past 20 years was to encourage efficient pricing structures. Caps have been imposed on average price levels, giving firms freedom to rebalance amongst prices within the basket. We test how firms have responded to the incentives within such discretion through an extensive review of the relative prices charged within UK price capped industries. We find surprisingly little response to these incentives, suggesting that strategic behaviour dominates short-term profit incentives even after the introduction or threat of competition. Copyright CIRIEC, 2005.
  • RePEc:bla:annpce:v:76:y:2005:i:1:p:121-149
Language
  • English
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