Contributions of neoclassical economics to public utility analysis

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Date: Aug. 1995
From: Land Economics(Vol. 71, Issue 3)
Publisher: University of Wisconsin Press
Document Type: Article
Length: 12,350 words

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Abstract :

Neoclassical economics has made several contributions to public utility analysis. In general industry, neoclassical economics have also had some positive influence. For instance, it has been used in the analysis of multiproduct firms, efficient pricing and investment policies, regulatory consequences, incentive regulation. Most of these studies have primarily focused on its application on the field of public utility. The areas where its impact has been mostly felt are in issues of pricing and the promotion of efficiency, alternative regulatory constraints, deregulation and externalities. Unfortunately, there are certain factors hindering the furtherance of neoclassical economics' influence on public utilities. These are regulatory politics, limited research perspective, narrow focus on economic efficiency and the academe.

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Gale Document Number: GALE|A18259795