Bibliographic record
Abstract
This paper explores how transaction cost economics supports the regulatory compact and can provide guidance on the proper regulatory treatment of stranded assets. Stranded assets are regulated assets that are no longer used for utility service, but have not been fully depreciated. Traditional rate regulation has limited the amount of stranded asset risk exposure to utilities and pipeline companies. However, recent regulatory decisions in Canada have signaled that regulators may alter the way that they treat stranded costs, based on their interpretation of the Calgary Stores Block Supreme Court of Canada decision. Such a change, shifting the risk of stranded assets entirely to shareholders, could result in a major increase in business risk for utilities and energy infrastructure companies, increased rates for services and underinvestment in the industry. An analysis of transaction cost economics illuminates the importance of the regulatory compact, supporting the conclusion that prudently incurred stranded asset costs should be allowed full recovery. The paper ultimately provides policy recommendations for a legislative amendment supported by the economic theory of contracts entrenched in the implicit regulatory compact affecting utilities, regulators and ratepayers.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.012 | 0.038 |
| Meta-epidemiology (narrow) | 0.001 | 0.001 |
| Meta-epidemiology (broad) | 0.001 | 0.001 |
| Bibliometrics | 0.002 | 0.001 |
| Science and technology studies | 0.004 | 0.024 |
| Scholarly communication | 0.011 | 0.014 |
| Open science | 0.003 | 0.004 |
| Research integrity | 0.007 | 0.010 |
| Insufficient payload (model declined to judge) | 0.006 | 0.001 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".