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"A Dynamic Analysis of the Common Use of Network in Public Utility Industries"

Research Project

Project/Area Number 11630068
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeSingle-year Grants
Section一般
Research Field 経済政策(含経済事情)
Research InstitutionKwansei Gakuin University

Principal Investigator

MIZUNO Keizo  Kwansei Gakuin University, School of Business Administration, Associate Professor., 商学部, 助教授 (40229703)

Co-Investigator(Kenkyū-buntansha) IZAWA Yuji  Ritsumeikan University, Department of Economics, Professor., 経済学部, 教授 (70222924)
Project Period (FY) 1999 – 2000
Project Status Completed (Fiscal Year 2000)
Budget Amount *help
¥1,900,000 (Direct Cost: ¥1,900,000)
Fiscal Year 2000: ¥700,000 (Direct Cost: ¥700,000)
Fiscal Year 1999: ¥1,200,000 (Direct Cost: ¥1,200,000)
Keywordspublic utility / network facility / access charge / vertical separation (integration) / investment / deregulation / 部分自由化 / ネットワーク設備投資 / 投資費用の回収 / 既存事業体の垂直構造 / 参入阻止行動
Research Abstract

The purpose of the research project is to provide an economic analysis of the common use of network facilities in public utility industries, like electricity, telecommunication, natural gas, etc. The contributions made by the research project are presented in the following two papers.
1."Vertical Separation vs, Vertical Integration : Entry Deterrence and Cost- Reducing Incentives with Access Regulation"
This paper examines access regulation under a deregurated downstream environment and asks whether a vertically integrated incumbent should be unbundled or not. To consider this issue, the model in the paper features an incumbent firm's entry-deterrence incentive and the investment for process innovation on a network facility. Then, the analysis firstly shows that the incumbent generally has less (more) entry-deterrence incentive under integration than under separation when an access charge is low (high). Secondly, the main merit of vertical separation is to provide a lower price of public-utility good, while its demerit is its weak power to induce an incumbent to invest for process innovation on network facility. Also, welfare comparison between the two vertical regimes depends on the magnitude of shadow cost of public funds, which makes the comparison a subtle issue.
2."Deregulation and Capital Investment"
This paper examines public-utility firms' incentives for capital investment with deregulation or the introduction of competition. In the paper, we claim by using real option approach that the deregulation makes the firms' incentives for investment weak, since it causes uncertainty to the firms through entry threat. Also, we discuss the policy remedies for the improvement of the investment incentives in the paper.

Report

(3 results)
  • 2000 Annual Research Report   Final Research Report Summary
  • 1999 Annual Research Report
  • Research Products

    (4 results)

All Other

All Publications (4 results)

  • [Publications] 水野敬三: "市場自由化と設備投資"商学論究. 第48巻3号. 119-132 (2001)

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      2000 Final Research Report Summary
  • [Publications] Keizo Mizuno: ""Sijo-Jiyuka to Setsubi-Toshi (Deregulation and Capital Investment)"(in Japanese)"Shogaku-Ronkyu (Journal of Business Administration). vol.48, No.3. 119-132 (2001)

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      2000 Final Research Report Summary
  • [Publications] 水野敬三: "市場自由化と設備投資"商学論究. 第48巻3号. 119-132 (2001)

    • Related Report
      2000 Annual Research Report
  • [Publications] 水野敬三: "「部分自由化のもとでの回収不能費用の徴収」"『公益事業研究』. 51巻2号. 33-38 (1999)

    • Related Report
      1999 Annual Research Report

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Published: 1999-04-01   Modified: 2016-04-21  

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