• Login
    View Item 
    •   Home
    • Yale
    • Yale Journal on Regulation
    • View Item
    •   Home
    • Yale
    • Yale Journal on Regulation
    • View Item
    JavaScript is disabled for your browser. Some features of this site may not work without it.

    Browse

    All of openYLSCommunitiesPublication DateAuthorsTitlesSubjectsThis CollectionPublication DateAuthorsTitlesSubjects

    My Account

    LoginRegister

    Statistics

    Display statistics

    Speculative Undertakings: Rate Regulation as a Branch of Corporate Finance

    • CSV
    • RefMan
    • EndNote
    • BibTex
    • RefWorks
    Thumbnail
    Name:
    JamesMingChenSpeculativeU.pdf
    Size:
    2.574Mb
    Format:
    PDF
    Download
    Author
    Chen, James Ming
    
    Metadata
    Show full item record
    URI
    http://hdl.handle.net/20.500.13051/8275
    Abstract
    The law of regulated industries, particularly the obligation to secure 'just and reasonable rates "for regulated services, is a highly specialized application of financial economics. Ratemaking, bluntly put, represents a regulatory exercise in capital asset pricing. As a matter of economics, this Essay describes ratemaking as a variation on the financial theme of uncertainty. As a matter of law, this Essay describes legal principles guiding the regulatory determination of the rate of return on utility property. It analyzes two valuation methods derived from the 1923 Bluefield Water Works decision ("attracting capital" and "comparable earnings"), as well as a third approach based on the capital asset pricing model. Discretionary elements in rate regulation make it impossible to wholly alleviate uncertainty in the pricing of infrastructure. Rate regulation therefore constitutes a speculative undertaking in its own right.
    Collections
    Yale Journal on Regulation

    entitlement

     
    DSpace software (copyright © 2002 - 2023)  DuraSpace
    Quick Guide | Contact Us
    Open Repository is a service operated by 
    Atmire NV
     

    Export search results

    The export option will allow you to export the current search results of the entered query to a file. Different formats are available for download. To export the items, click on the button corresponding with the preferred download format.

    By default, clicking on the export buttons will result in a download of the allowed maximum amount of items.

    To select a subset of the search results, click "Selective Export" button and make a selection of the items you want to export. The amount of items that can be exported at once is similarly restricted as the full export.

    After making a selection, click one of the export format buttons. The amount of items that will be exported is indicated in the bubble next to export format.