The Control of Natural Monopolies
Author: Richard Schmalensee
Publisher: Free Press
Published: 1979
Total Pages: 200
ISBN-13:
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Author: Richard Schmalensee
Publisher: Free Press
Published: 1979
Total Pages: 200
ISBN-13:
DOWNLOAD EBOOKAuthor: Richard A. Posner
Publisher: Cato Institute
Published: 1999-04-01
Total Pages: 131
ISBN-13: 1933995823
DOWNLOAD EBOOKNatural monopolies exist in those markets in which demand can be satisfied at lowest cost by the output of only one rather than several competing firms. Under such conditions, conventional wisdom suggests that government regulation must substitute for competition to discipline the behavior of firms. Thirty years ago a young professor named Richard Posner asked the provocative question of whether the existence of natural monopoly provides adequate justification for government intervention. His even more provocative answer was no. The evils of natural monopoly are exaggerated, the effectiveness of regulation in controlling them is highly questionable, and regulation costs a great deal. "The resources and energies of government should be directed to problems we know are substantial, that we think are traceable to government action, and that cannot be left to the private sector to work out. There are plenty of those problems, and it is doubtful that natural monopoly is among them." Thirty years after its initial publication, read the original insights of Richard Posner about the regulation of natural monopoly as well as a new preface in which Posner reflects on the deregulation of industries that has occurred since 1969 and the possibilities for more deregulation in the future."
Author: Francesco Ducci
Publisher: Cambridge University Press
Published: 2020-07-23
Total Pages: 203
ISBN-13: 1108491146
DOWNLOAD EBOOKThrough three case studies, this book investigates whether digital industries are naturally monopolistic and evaluates policy approaches to market power.
Author: Sanford V. Berg
Publisher: Cambridge University Press
Published: 1989-01-27
Total Pages: 580
ISBN-13: 9780521338936
DOWNLOAD EBOOKConsidered the cutting edge of microeconomic theory in the 1970s, natural monopoly research remains an active and fertile field. Policy makers and regulators have begun to implement entry and pricing policies that are based on theoretical and empirical analyses. This book develops a comprehensive framework for analyzing natural monopoly. The authors first present a historical overview of regulatory economics, followed by analyses of optimal pricing and investment for single- and multiproduct natural monopolies. Topics covered include cost and demand structures, efficiency impacts of linear and multipart pricing, peak-load pricing, capacity determination, and the sustainability of natural monopolies. After a survey and analysis of natural monopoly regulation in practice, the links between technological change and regulation are identified. The book concludes with a discussion of the alternatives to traditional regulation, including public ownership, franchise schemes, quality regulation, and new incentive systems. Throughout the book, issues from the telecommunications and energy industries are used to illustrate key points. Its integrated framework will make it useful to academic economists, regulatory analysts, business researchers, and advanced students of public utility economics.
Author: José A. Gómez-Ibáñez
Publisher: Harvard University Press
Published: 2006-09-01
Total Pages: 456
ISBN-13: 9780674037809
DOWNLOAD EBOOKIn the 1980s and '90s many countries turned to the private sector to provide infrastructure and utilities, such as gas, telephones, and highways--with the idea that market-based incentives would control costs and improve the quality of essential services. But subsequent debacles including the collapse of California's wholesale electricity market and the bankruptcy of Britain's largest railroad company have raised troubling questions about privatization. This book addresses one of the most vexing of these: how can government fairly and effectively regulate "natural monopolies"--those infrastructure and utility services whose technologies make competition impractical? Rather than sticking to economics, José Gómez-Ibáñez draws on history, politics, and a wealth of examples to provide a road map for various approaches to regulation. He makes a strong case for favoring market-oriented and contractual approaches--including private contracts between infrastructure providers and customers as well as concession contracts with the government acting as an intermediary--over those that grant government regulators substantial discretion. Contracts can provide stronger protection for infrastructure customers and suppliers--and greater opportunities to tailor services to their mutual advantage. In some cases, however, the requirements of the firms and their customers are too unpredictable for contracts to work, and alternative schemes may be needed.
Author: John Bates Clark
Publisher:
Published: 1901
Total Pages: 112
ISBN-13:
DOWNLOAD EBOOKAuthor: Paul L. Joskow
Publisher:
Published: 2005
Total Pages: 186
ISBN-13:
DOWNLOAD EBOOKThis chapter provides a comprehensive overview of the theoretical and empirical literature on the regulation of natural monopolies. It covers alternative definitions of natural monopoly, regulatory goals, alternative regulatory institutions, price regulation with full information, regulation with imperfect and asymmetric information, and topics on the measurement of the effects of price and entry regulation in practice. The chapter also discusses the literature on network access and pricing to support the introduction of competition into previously regulated monopoly industries.
Author: Daniel H. Cole
Publisher: Routledge
Published: 2003-07-17
Total Pages: 258
ISBN-13: 1135697000
DOWNLOAD EBOOKThis book addresses the fundamental issues underlying the debate over electric power regulation and deregulation. After decades of the presumption that the electric power industry was a natural monopoly, recent times have seen a trend of deregulation followed by panicked re-regulation.
Author: Michael Waterson
Publisher:
Published: 1988
Total Pages: 164
ISBN-13:
DOWNLOAD EBOOKAuthor: Marcus Lane
Publisher:
Published: 1900
Total Pages: 30
ISBN-13:
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