Essential facility financing and market structure
Article Abstract:
The funding of the infrastructure projects, when an incumbent operator has private information about the market profitability and the regulator does not have access to tax payers money, is analyzed. Characterization of optimal market structure shows that, when decision involves multiple projects, monopoly segments should cross-subsidize open access ones.
Publication Name: The Journal of Public Economics
Subject: Government
ISSN: 0047-2727
Year: 2004
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Irreversible abatement investment under cost uncertainties: tradable emission permits and emissions charges
Article Abstract:
Stochastic permit prices may reduce a firm's incentive to invest in abatement capital or technologies relative to other policies such as a fixed emissions charge. A rational expectations general equilibrium model of permit trading and irreversible abatement investment is developed to show how cost uncertainties affect investment under permits.
Publication Name: The Journal of Public Economics
Subject: Government
ISSN: 0047-2727
Year: 2003
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