From monopoly to markets: Milestones along the road. Occasional paper {number_sign}25

PDF Version Also Available for Download.

Description

This report analyzes developments in the electric utility industry using the tools of transaction cost economics. During the last thirty years, the tools of economic analysis have been substantially expanded--notably, Oliver Williamson, building on the insights of Coase and others, has made significant contributions through his work in developing the new institutional economics, of which transaction cost economics reasoning plays a major role. Because of the relevance of the new institutional economics to public utilities and public utility regulation, the theoretical insights of the new institutional economics have been applied to many aspects of public utility industry structure, governance, and ... continued below

Physical Description

91 p.

Creation Information

Olson, W.P. August 1, 1998.

Context

This report is part of the collection entitled: Office of Scientific & Technical Information Technical Reports and was provided by UNT Libraries Government Documents Department to Digital Library, a digital repository hosted by the UNT Libraries. More information about this report can be viewed below.

Who

People and organizations associated with either the creation of this report or its content.

Provided By

UNT Libraries Government Documents Department

Serving as both a federal and a state depository library, the UNT Libraries Government Documents Department maintains millions of items in a variety of formats. The department is a member of the FDLP Content Partnerships Program and an Affiliated Archive of the National Archives.

Contact Us

What

Descriptive information to help identify this report. Follow the links below to find similar items on the Digital Library.

Description

This report analyzes developments in the electric utility industry using the tools of transaction cost economics. During the last thirty years, the tools of economic analysis have been substantially expanded--notably, Oliver Williamson, building on the insights of Coase and others, has made significant contributions through his work in developing the new institutional economics, of which transaction cost economics reasoning plays a major role. Because of the relevance of the new institutional economics to public utilities and public utility regulation, the theoretical insights of the new institutional economics have been applied to many aspects of public utility industry structure, governance, and regulation. The contributions of Joskow and Schmalensee are most notable, but many other economists have made theoretical and empirical contributions. These insights are very applicable to the issues that policymakers and regulators are likely to address as electric restructuring progresses. The goal of this report is to synthesize the theoretical work on the new institutional economics with the recent developments in the electric utility industry--most notably, the rapid trend toward competition in electric generation, both in the US and abroad. Transaction-cost-economics reasoning provides an analytical structure for understanding the implications of asset specificity, asymmetric and imperfect information, reputation effects, ex ante contracting costs, ex post contract maladaption issues, and issues that arise because contracts are incomplete. The insights that transaction cost economics can provide are very timely to the debates currently going on with respect to electric restructuring issues.

Physical Description

91 p.

Notes

OSTI as DE99000880

Source

  • Other Information: PBD: Aug 1998

Language

Item Type

Identifier

Unique identifying numbers for this report in the Digital Library or other systems.

  • Other: DE99000880
  • Report No.: NRRI--98-19
  • DOI: 10.2172/291019 | External Link
  • Office of Scientific & Technical Information Report Number: 291019
  • Archival Resource Key: ark:/67531/metadc675802

Collections

This report is part of the following collection of related materials.

Office of Scientific & Technical Information Technical Reports

Reports, articles and other documents harvested from the Office of Scientific and Technical Information.

Office of Scientific and Technical Information (OSTI) is the Department of Energy (DOE) office that collects, preserves, and disseminates DOE-sponsored research and development (R&D) results that are the outcomes of R&D projects or other funded activities at DOE labs and facilities nationwide and grantees at universities and other institutions.

What responsibilities do I have when using this report?

When

Dates and time periods associated with this report.

Creation Date

  • August 1, 1998

Added to The UNT Digital Library

  • July 25, 2015, 2:20 a.m.

Usage Statistics

When was this report last used?

Yesterday: 0
Past 30 days: 0
Total Uses: 3

Interact With This Report

Here are some suggestions for what to do next.

Start Reading

PDF Version Also Available for Download.

International Image Interoperability Framework

IIF Logo

We support the IIIF Presentation API

Olson, W.P. From monopoly to markets: Milestones along the road. Occasional paper {number_sign}25, report, August 1, 1998; United States. (digital.library.unt.edu/ark:/67531/metadc675802/: accessed September 25, 2018), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.