The treatment of Z factors in price cap plans

Mark Newton Lowry and Lawrence Kaufmann

Applied Economics Letters, 1995, vol. 2, issue 10, 406-408

Abstract: Z factors are a commonly misunderstood but important component of price cap regulation. A typical concern is that they result in a double counting of special business conditions in the price cap index. This letter explains the mathematical logic for Z factors and shows that they need not result in double counting. Implementation issues are briefly discussed.

Date: 1995
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DOI: 10.1080/758519002

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