Once a regulated utility has made an irreversible capital investment, that investment becomes vulnerable to appropriation by a regulator. This Article explores the incentives and strategies of the investor, the consumer, and the regulator-before and after capital investments are sunk-within a game-based model of regulation. A regulator, even one whose allegiance lies wholly with consumers, will find it advantageous to commit to repaying investor capital. A consumer gains when regulatory commitment to repaying capital is made less fragile. Commitment often does not take the form of a promise or contract. Historically, the most important force for keeping regulators faithful has been the continuing need for future investment. New methods for making commitments more sturdy include adopting technologies that result in small repeated investments, greater use of market transactions, and regulator involvement in the firm's planning decisions.
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.