By Günter Knieps
ISBN-10: 3319116959
ISBN-13: 9783319116952
Community economics offers crucial microeconomic tools for the research of community sectors like telecommunications, shipping or power. Network-specific features emerge either at the price aspect and gain part, requiring community prone to enhance leading edge entrepreneurial festival thoughts for costing, pricing, and funding. From a contest coverage viewpoint, a few attention-grabbing questions come up during which components of networks is pageant practical? by contrast, the place is an abuse of marketplace strength to be anticipated? what's the department of work among cartel specialists and regulatory agencies?. The e-book develops an analytical framework for all community industries which permits readers to check entrepreneurial thoughts in addition to law and pageant guidelines for community industries.
Read Online or Download Network Economics: Principles - Strategies - Competition Policy (Springer Texts in Business and Economics) PDF
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Additional resources for Network Economics: Principles - Strategies - Competition Policy (Springer Texts in Business and Economics)
Example text
Technological progress and market changes that cannot be discerned ex ante at the beginning of the planning horizon cannot, by their very nature, be taken into consideration, and thus disregarding them should not ex post be described as an entrepreneurial failure. What remains is the necessity to adapt the depreciation schedules in a suitable way on the basis of the deprival value concept. This has to be done sequentially on the basis of current expectations. Sequential depreciation schedules are characterised by determining future depreciation values on the basis of current expectations, without considering past depreciation values, as the latter are no longer decision-relevant.
3 Cost of Capital (Interest) The cost of capital of a network provider should reflect the opportunity costs of the financial resources invested in assets within network industries. 7 WACC ¼ r E Á E D þ r D Á ð1 À sÞ Á EþD EþD ð2:7Þ where: rE interest rate on equity (rate of return demanded by shareholders) rD interest rate on debt (rate of return demanded by lenders of borrowed capital) E market value of equity D market value of debt E + D market value of total capital s corporate tax rate In this approach the weighted average cost of capital, based on the expected costs of debt and the expected costs of equity, is determined.
1987). How arbitrary is “arbitrary” or, toward the deserved demise of full cost allocation. Public Utilities Fortnightly, 120(5), 16–21. 32 2 Decision-Relevant Costs Baumol, W. , Panzar, J. , & Willig, R. D. (1982). Contestable markets and the theory of industry structure. San Diego: Harcourt Brace Jovanovich. Bell, P. , & Peasnell, K. (1997). Another look at the deprival value approach to depreciation. In T. E. Cooke & C. W. ), The development of accounting in an international context (pp. 122–148).
Network Economics: Principles - Strategies - Competition Policy (Springer Texts in Business and Economics) by Günter Knieps
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