Capital recovery for the regulated firm under certainty and regulatory uncertainty
1
Claremont Graduate School, Claremont CA 91711, USA
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Publication type: Journal Article
Publication date: 1992-12-01
General Environmental Science
General Earth and Planetary Sciences
Abstract
This paper examines the rate-of-return regulated firm's incentives in negotiations over cost recovery. It develops optimal recovery paths for the firm facing certainty versus uncertainty of discretionary regulatory policy. Front-loaded capital recovery is not generally optimal under certainty, which is contrary to Financial Accounting Standards Board (FASB) rules. However, with the consideration of regulatory uncertainty, the optimal recovery path is remarkably close to FASB-approved rules. The optimal recovery under certainty becomes time-consistent if the discretionary power of the regulators to alter a previously agreed upon plan is removed.
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Goodwin T. H., Patrick R. H. Capital recovery for the regulated firm under certainty and regulatory uncertainty // Resources and Energy. 1992. Vol. 14. No. 4. pp. 337-361.
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Goodwin T. H., Patrick R. H. Capital recovery for the regulated firm under certainty and regulatory uncertainty // Resources and Energy. 1992. Vol. 14. No. 4. pp. 337-361.
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RIS
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TY - JOUR
DO - 10.1016/0165-0572(92)90002-x
UR - https://doi.org/10.1016/0165-0572(92)90002-x
TI - Capital recovery for the regulated firm under certainty and regulatory uncertainty
T2 - Resources and Energy
AU - Goodwin, Thomas H
AU - Patrick, Robert H.
PY - 1992
DA - 1992/12/01
PB - Elsevier
SP - 337-361
IS - 4
VL - 14
SN - 0165-0572
ER -
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BibTex (up to 50 authors)
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@article{1992_Goodwin,
author = {Thomas H Goodwin and Robert H. Patrick},
title = {Capital recovery for the regulated firm under certainty and regulatory uncertainty},
journal = {Resources and Energy},
year = {1992},
volume = {14},
publisher = {Elsevier},
month = {dec},
url = {https://doi.org/10.1016/0165-0572(92)90002-x},
number = {4},
pages = {337--361},
doi = {10.1016/0165-0572(92)90002-x}
}
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MLA
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Goodwin, Thomas H., and Robert H. Patrick. “Capital recovery for the regulated firm under certainty and regulatory uncertainty.” Resources and Energy, vol. 14, no. 4, Dec. 1992, pp. 337-361. https://doi.org/10.1016/0165-0572(92)90002-x.