Consumer surplus and the reform of network industries: a primer |
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Authors: | Lidia Ceriani Massimo Florio |
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Institution: | 1.Department of Institutional Analysis and Public Management,Università Bocconi,Milan,Italy;2.Department of Economics, Business, and Statistics,Università degli Studi di Milano,Milan,Italy |
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Abstract: | Starting from an industry where production is provided by a public monopolist, we observe the effects of a sequence of reforms
within the network industry on consumer surplus. Using a simple comparative statics framework, we find the indifference conditions
for the consumer surplus under the following regimes: a public monopoly, an unregulated private monopoly, a regulated private
monopoly, a vertically disintegrated monopoly, a duopoly and a liberalized market. The results are determined by the relative
size of the x-inefficiencies of the public monopolist, allocative inefficiencies of the private monopoly, the cost of unbundling
and the costs related to establishing a competitive market. |
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Keywords: | |
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