Regulatory Risk: Economic Principles and Applications to Natural Gas Pipelines and Other Industries

Name: Regulatory Risk: Economic Principles and Applications to Natural Gas Pipelines and Other Industries
Author: A. Lawrence Kolbe

Gebonden Engels 1993 1993e druk 9780792393306

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Samenvatting

It is common to assert that utility investors are compensated in the allowed rate of return for the risk of large disallowances, such as arise for investments found imprudent or not `used and useful'. However, this book develops a new theory of asymmetric regulatory risk that shows that infallible estimates of the cost of capital are sure to provide downward-biased estimates of the necessary allowed rates of return in the presence of such regulatory risks. The book uses the new theory of regulatory risk to understand recent developments in the risk of natural gas pipelines and other regulated industries.

Specificaties

ISBN13:9780792393306

Taal:Engels

Bindwijze:gebonden

Aantal pagina's:345

Uitgever:Springer US

Druk:1993

Hoofdrubriek:Organisatiekunde, Economie, Inkoop en logistiek

Serie:Topics in Regulatory Economics and Policy

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Inhoudsopgave

1. Introduction. 2. The Theory of Regulatory Risk. 3. Regulatory Risk: Objections to the Theory. 4. Sources of Asymmetric Risk in Regulated Industries. 5. Risk of the Interstate Natural Gas Pipeline Industry: Summary. 6. Recent Trends in the Interstate Gas Pipeline Industy. 7. Two Views of Pipeline Risk. 8. Risk Analysis for Natural Gas Pipelines. 9. Two Fundamental Questions. Appendix A: Risks that Affect the Cost of Capital. Appendix B: Summary of Recent History of the Interstate Natural Gas Pipeline Industry. Bibliography. Index.