I would like to thank Nwaeze and Mereba for spending a great deal of effort to mitigate some of the concerns raised about the earlier version of this paper. Unfortunately, I have to fall back to my role of a critic and express my continuing concerns about the believability of the results and conclusions. To show the reasons for this doubt, I will look at the analysis and retreat to the setting and the underlying institutional aspects of the paper.
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References
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Edison Electric Institute. 1987. Incentive Regulations in the Electrical Utility Industry. Washington, D.C.: Edison Electric Institute.
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MaddalaG. S.1988. Introduction to Econometrics. New York: Macmillan.
