Optimal Regulation: The Economic Theory of Natural Monopoly - The MIT Press (Hardback)
  • Optimal Regulation: The Economic Theory of Natural Monopoly - The MIT Press (Hardback)
zoom

Optimal Regulation: The Economic Theory of Natural Monopoly - The MIT Press (Hardback)

(author)
£12.95
Hardback 352 Pages / Published: 12/08/1991
  • Not available

This product is currently unavailable.

  • This item has been added to your basket
Optimal Regulation addresses the central issue of regulatory economics - how to regulate firms in a way that induces them to produce and price "optimally." It synthesizes the major findings of an extensive theoretical literature on what constitutes optimality in various situations and which regulatory mechanisms can be used to achieve it. It is the first text to provide a unified, modern, and nontechnical treatment of the field. The book includes models for regulating optimal output, tariffs, and surplus subsidy schemes, and presents all of the material graphically, with clear explanations of often highly technical topics. Topics include The cost structure of natural monopoly (economies of scale and scope) * Characterization of firstand second-best optimality * Surplus subsidy schemes for attaining first-best optimality * Ramsey prices and the Vogelsang-Finsinger mechanism for attaining them * Time-ofuse (TOU) prices and Riordan's mechanisms for attaining the optimal TOU prices' Multipart and self-selecting tariffs, and Sibley's method for using self-selecting tariffs to achieve optimality * The Averch-Johnson model of how rate-of-return regulation induces inefficiencies * Analysis of regulation based on the firm's return on Output, costs, or sales * Price-cap regulation * Regulatory treatment of uncertainty and its impact on the firm's behavior * Methods of attaining optimality without direct regulation (contestability, auctioning the monopoly franchise.)

Publisher: MIT Press Ltd
ISBN: 9780262200844
Number of pages: 352
Weight: 748 g
Dimensions: 231 x 160 x 27 mm

You may also be interested in...

The Hollywood Economist 2.0
Added to basket
Free
Added to basket
£8.99
Paperback
Capitalism at Risk
Added to basket
Knowledge Economy and the City
Added to basket
Innovation Economics
Added to basket
The Architecture of Innovation
Added to basket
Modern Economic Regulation
Added to basket

Reviews

Please sign in to write a review

Your review has been submitted successfully.