Optimal Response to Shift in Regulatory Regime : The Case of the U . S . Nuclear Power Industry

@inproceedings{Rust1995OptimalRT,
  title={Optimal Response to Shift in Regulatory Regime : The Case of the U . S . Nuclear Power Industry},
  author={John Rust},
  year={1995}
}
This paper studies the impact of the March 1979 Three Mile Island (TMI) accident on the regulation of nuclear power plants (NPPs) and its consequences for the operating behavior and profitability of the U.S. nuclear power industry. We treat the TMI accident as a “natural experiment” that caused a sudden, unexpected, and permanent increase in the intensity of safety regulation by the U.S. Nuclear Regulatory Commission (NRC) and a shift toward increased disallowances of operating costs by state… CONTINUE READING