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Incentive Regulation, Investments and Technological Change

Author

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  • Ingo Vogelsang
Abstract
Based on an idiosyncratic reading of the literature I propose intermediate (rather than tight or soft) regulation for balancing investment incentives with allocative efficiency and competition objectives. Intermediate regulation is compatible with incentive regulation and helps lengthening the regulatory commitment period necessary for incentives. However, such commitment for the whole time horizon of infrastructure or innovation investments is impossible. The compatibility of incentive regulation and efficient investment is thus in doubt. Incentive regulation for regular infrastructure investments therefore needs periodic updating based on rate-of-return regulation criteria. Innovative infrastructure investments may warrant regulatory holidays, which should be conditioned on strict criteria.

Suggested Citation

  • Ingo Vogelsang, 2010. "Incentive Regulation, Investments and Technological Change," CESifo Working Paper Series 2964, CESifo.
    • Handle: RePEc:ces:ceswps:_2964
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    12. Ingo Vogelsang, 2010. "The Tension Between Incentive Regulation and Investments in Network Industries," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 8(03), pages 13-18, October.
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    19. Henze, B., 2016. "Laboratory experiments on the regulation of European network industries," Other publications TiSEM b18fcfca-2b95-4b01-91e2-0, Tilburg University, School of Economics and Management.
    20. Marcos, Félix, 2011. "Price regulation in oligopolistic markets," UC3M Working papers. Economics 13443, Universidad Carlos III de Madrid. Departamento de Economía.
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    • L50 - Industrial Organization - - Regulation and Industrial Policy - - - General
    • L90 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - General

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