کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5104950 1481074 2017 34 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Water losses and optimal network investments: Price regulation effects with municipalization and privatization
ترجمه فارسی عنوان
تلفات آب و سرمایه گذاری های شبکه بهینه: مقررات قیمت گذاری با شهرداری و خصوصی سازی
موضوعات مرتبط
علوم زیستی و بیوفناوری علوم کشاورزی و بیولوژیک علوم آبزیان
چکیده انگلیسی
We analyze optimal investments, to reduce water losses, in a regulated water industry, with perfectly inelastic demand and private information about local investment efficiency. We compare the public and private ownership cases, both subject to the same regulatory (revenue cap) mechanism. The theoretical analysis is supported by a calibration and simulation exercise. The incentive to invest is affected by ownership, financial structure and revenue cap. Overinvestment results in private firms as the cost of capital is accounted differently. In public firms: (i) the effect of the revenue cap is diluted and investments distortions with respect to a benevolent social planner are negligible; (ii) information rents are valued according to the marginal cost of public funds; (iii) the distortionary taxation and a price inelastic demand drive local politicians to maximize water revenues to finance investments and to increase municipal fiscal gains. Price differences result from differences in ownership and financial structure.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Water Resources and Economics - Volume 18, April 2017, Pages 1-19
نویسندگان
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