Incentive Regulation of Distributing Utilities Using Yardstick Competition
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Abstract Comparability of costs is enhanced by the use of flexible models such as nonparametric and semiparametric specifications, and robust econometric techniques such as median and quantile regression. The process of incentive regulation can be used not only to create incentives for firms to behave in a more cost-effective manner, but to create better incentives for information revelation.