How much do hoteliers actually make use of dynamic pricing strategies? We collected data on the price of a single room booked in advance (from three months to a single day), from almost 1000 hotels in eight European capital cities. Pricing strategies were analyzed by means of descriptive statistics, box plots and econometric panel data techniques. The empirical results show that the inter-temporal pricing structure primarily depends on the type of customer, the star rating and the number of suppliers with available rooms.

No abstract

Within the recent debate on liberalization of local public services, the paper investigates the cost properties of a sample of Italian public utilities providing in combination gas, water and electricity. The estimates from a Composite Cost Function econometric model (Pulley and Braunstein, 1992) are compared with the ones coming from other traditional functional forms such as the Standard Translog, the Generalized Translog, and the Separable Quadratic. The results highlight the presence of global scope and scale economies only for multi-utilities with output levels lower than the ones characterizing the 'median' firm. This indicates that relatively small specialized firms would benefit from cost reductions by evolving into multi-utilities providing similar network services such as gas, water and electricity. However, for larger-scale utilities the hypothesis of null cost advantages is not rejected. Thus, it is possible that the recent diversification waves of leading companies are explained by factors other than cost synergies, so that the welfare gains that can be reasonably expected from such examples of horizontal integration, if any, are likely to be very low.

[1] In the context of the restructuring of the water industry, this work examines the treatment processes of urban wastewaters in Italy, with reference to costs, size, and technology. The operating cost function of 103 plants confirms scope economies from vertical integration and strong economies of scale for the smaller structure, confirming the benefits coming from the aggregation of the existing little firms. A minimum efficient size at about 100,000 inhabitants, however, inhibits the creation of large monopolies at a local level and enables the maintenance of indirect competition. Among the explanatory variables of running costs, the pollution load of the input wastewater takes on a high statistical significance and suggests environmental prevention, while the strong impact of sludge concentration means it should be considered in the new tariff systems. The recent introduction of advanced treatments is expensive, but the costs are balanced by a notable improvement in the pureness of the effluent waters. As for general environmental policies, it is necessary to find a good compromise between the need to improve the effectiveness of the existing plants and the investments in areas where the water treatment service is still inexistent.INDEX TERMS: 6344 Policy Sciences: System operation and management; 6324 Policy Sciences: Legislation and regulations; 6334 Policy Sciences: Regional planning; 6339 Policy Sciences: System design; KEYWORDS: wastewater, pollution-treatment, operating costs, scale economies Citation: Fraquelli, G., and R. Giandrone, Reforming the wastewater treatment sector in Italy: Implications of plant size, structure, and scale economies, Water Resour.

In the last decade, the European Commission promoted a new regulatory framework aiming at a gradual liberalization of the energy markets. The introduction of competition among generators implies the need to separate generation from transmission and distribution activities. However, if savings can be reached by operating at different stages, vertical separation would increase the costs of providing power. This paper tests for the presence of economies from vertical integration on a sample of Italian local electric utilities and finds evidence of both multi-stage economies of scale and vertical economies. Even if the hypothesis of global subadditivity is not supported, our evidence suggests that a complete divestiture policy would entail efficiency losses. Copyright Springer Science+Business Media, Inc. 2005composite cost function, electric utilities, liberalization, subadditivity, vertical integration, L11, L50, L94,

Empirical studies on the cost structure of Public Transit Networks are mainly based on specialized firms providing urban or intercity services. In this study we estimate a translogarithmic variable cost function to assess the behaviour of returns to scale and the impact of network characteristics. The analysis is based on a sample of 45 Italian municipal companies observed from

No abstract

No abstract