Key points are not available for this paper at this time.
R. Blaine Roberts, G. S. Maddala, Gregory Enholm, Determinants of the Requested Rate of Return and the Rate of Return Granted in a Formal Regulatory Process, The Bell Journal of Economics, Vol. 9, No. 2 (Autumn, 1978), pp. 611-621
Roberts et al. (Sun,) studied this question.