Download or read book A Behavioral Theory of Public Utility Regulation written by Paul L. Joskow and published by . This book was released on 1973 with total page 490 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A BEHAVIORAL THEORY OF PUBLIC UTILITY REGULATION written by Paul Lewis Joskow and published by . This book was released on 1972 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Risk Principles for Public Utility Regulators written by Janice A. Beecher and published by Michigan State University Press. This book was released on 2016-05-01 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Risk and risk allocation have always been central issues in public utility regulation. Unfortunately, the term “risk” can easily be misrepresented and misinterpreted, especially when disconnected from long-standing principles of corporate finance. This book provides those in the regulatory policy community with a basic theoretical and practical grounding in risk as it relates specifically to economic regulation in order to focus and elevate discourse about risk in the utility sector in the contemporary context of economic, technological, and regulatory change. This is not a “how-to” book with regard to calculating risks and returns but rather a resource that aims to improve understanding of the nature of risk. It draws from the fields of corporate finance, behavioral finance, and decision theory as well as the broader legal and economic theories that undergird institutional economics and the economic regulatory paradigm. We exist in a world of scarce resources and abundant uncertainties, the combination of which can exacerbate and distort our sense of risk. Although there is understandable impulse to reduce risk, attempts to mitigate may be as likely to shift risk, and some measures might actually increase risk exposure. Many of the concepts explored here apply not just to financial decisions, such as those by utility investors, but also to regulatory and utility decision-making in general.
Download or read book Essays on Public Utility Pricing and Regulation written by Harry Martin Trebing and published by . This book was released on 1971 with total page 496 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Economic Regulation and Its Reform written by Nancy L. Rose and published by University of Chicago Press. This book was released on 2014-08-29 with total page 619 pages. Available in PDF, EPUB and Kindle. Book excerpt: The past thirty years have witnessed a transformation of government economic intervention in broad segments of industry throughout the world. Many industries historically subject to economic price and entry controls have been largely deregulated, including natural gas, trucking, airlines, and commercial banking. However, recent concerns about market power in restructured electricity markets, airline industry instability amid chronic financial stress, and the challenges created by the repeal of the Glass-Steagall Act, which allowed commercial banks to participate in investment banking, have led to calls for renewed market intervention. Economic Regulation and Its Reform collects research by a group of distinguished scholars who explore these and other issues surrounding government economic intervention. Determining the consequences of such intervention requires a careful assessment of the costs and benefits of imperfect regulation. Moreover, government interventions may take a variety of forms, from relatively nonintrusive performance-based regulations to more aggressive antitrust and competition policies and barriers to entry. This volume introduces the key issues surrounding economic regulation, provides an assessment of the economic effects of regulatory reforms over the past three decades, and examines how these insights bear on some of today’s most significant concerns in regulatory policy.
Download or read book Public Utility Regulation written by Kenneth Nowotny and published by Springer. This book was released on 2011-10-13 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: David B. Smith This is a book about the application of economic theory to a unique form of social control - public utility regulation. A central theme of this work is to examine the role that economics has played in shaping the rationale and direction of regulatory practices. While economic theory has played an important role in the shaping of regulatory policy in the past, it has an even greater potential role to play in the future as the regulatory community grapples with the many challenges of a changing economic environment. This is a very timely and much needed piece of work that can serve as a reference for decision makers who are facing the challeng ing problems of deregulation and competition. This work is comprised of 13 selected articles that guide the reader from an initial discussion of why we decided to regulate certain industries in the first place to a specific analysis of what role economic theory has played in the electric, natural gas, telecommunications, and water indus tries, and whether it should be allowed to play an even more dominant role in the future. The reader is then provided with a more modern version of what economists mean by the concept of natural monopoly and a menu of policy options that will allow society to derive any benefits from such a market structure.
Download or read book Risk Principles for Public Utility Regulators written by Janice A. Beecher and published by MSU Press. This book was released on 2016-05-01 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: Risk and risk allocation have always been central issues in public utility regulation. Unfortunately, the term “risk” can easily be misrepresented and misinterpreted, especially when disconnected from long-standing principles of corporate finance. This book provides those in the regulatory policy community with a basic theoretical and practical grounding in risk as it relates specifically to economic regulation in order to focus and elevate discourse about risk in the utility sector in the contemporary context of economic, technological, and regulatory change. This is not a “how-to” book with regard to calculating risks and returns but rather a resource that aims to improve understanding of the nature of risk. It draws from the fields of corporate finance, behavioral finance, and decision theory as well as the broader legal and economic theories that undergird institutional economics and the economic regulatory paradigm. We exist in a world of scarce resources and abundant uncertainties, the combination of which can exacerbate and distort our sense of risk. Although there is understandable impulse to reduce risk, attempts to mitigate may be as likely to shift risk, and some measures might actually increase risk exposure. Many of the concepts explored here apply not just to financial decisions, such as those by utility investors, but also to regulatory and utility decision-making in general.
Download or read book Utility Regulation written by William G. Shepherd and published by . This book was released on 1966 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Corruption and Reform written by Edward L. Glaeser and published by University of Chicago Press. This book was released on 2007-11-01 with total page 397 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite recent corporate scandals, the United States is among the world’s least corrupt nations. But in the nineteenth century, the degree of fraud and corruption in America approached that of today’s most corrupt developing nations, as municipal governments and robber barons alike found new ways to steal from taxpayers and swindle investors. In Corruption and Reform, contributors explore this shadowy period of United States history in search of better methods to fight corruption worldwide today. Contributors to this volume address the measurement and consequences of fraud and corruption and the forces that ultimately led to their decline within the United States. They show that various approaches to reducing corruption have met with success, such as deregulation, particularly “free banking,” in the 1830s. In the 1930s, corruption was kept in check when new federal bureaucracies replaced local administrations in doling out relief. Another deterrent to corruption was the independent press, which kept a watchful eye over government and business. These and other facets of American history analyzed in this volume make it indispensable as background for anyone interested in corruption today.
Download or read book Nudge Theory in Action written by Sherzod Abdukadirov and published by Springer. This book was released on 2016-09-28 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection challenges the popular but abstract concept of nudging, demonstrating the real-world application of behavioral economics in policy-making and technology. Groundbreaking and practical, it considers the existing political incentives and regulatory institutions that shape the environment in which behavioral policy-making occurs, as well as alternatives to government nudges already provided by the market. The contributions discuss the use of regulations and technology to help consumers overcome their behavioral biases and make better choices, considering the ethical questions of government and market nudges and the uncertainty inherent in designing effective nudges. Four case studies - on weight loss, energy efficiency, consumer finance, and health care - put the discussion of the efficiency of nudges into concrete, recognizable terms. A must-read for researchers studying the public policy applications of behavioral economics, this book will also appeal to practicing lawmakers and regulators.
Download or read book Regulating Utilities with Management Incentives written by Kurt A. Strasser and published by Praeger. This book was released on 1989-12-11 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book proposes a new approach to the government regulation of utilities. Arguing that traditional command-and-control regulation does not encourage efficient performance, Strasser and Kohler advocate the use of an incentive-based regulatory system and offer a practical, realistic strategy for the successful implementation of such plans within the context of utility regulation. The analysis is supported by a comprehensive survey of the relevant legal materials, an overview of the literature on organization theory and institutional economics, and a survey of the latest thinking on how incentives can most effectively be paid. Strasser and Kohler begin by identifying problems associated with current regulatory techniques, demonstrating that disincentives are often built into the regulatory system. When that system has tried incentives, the authors show they have been applied in an ad hoc manner, further exacerbating the problem. In presenting the case for incentive-based regulation, the authors review the history of comprehensive incentive plans, look at what organization theory can teach us about using incentives as a regulatory strategy, and explore the effective use of incentive compensation by nonregulated companies. Strasser and Kohler then develop a strategy for implementing incentive plans in regulated utilities, showing that, in order to work, the plans must include the installation of clearly defined bonuses and penalties, specific standards of performance, the payment of bonuses to managers rather than shareholders, and reliable and complete measures of company performance. Policymakers, economists, public utility regulators, and attorneys involved in the complex arena of utility regulation will find Regulating Utilities with Management Incentives indispensable reading.
Download or read book Regulatory Politics and Electric Utilities written by Douglas D. Anderson and published by Praeger. This book was released on 1981-03-30 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditional theories hold that regulatory agencies act mainly as champions of the interest they are meant to oversee. Anderson looks at regulation within the fast-changing environment. By adding the external political and internal bureaucratic variables he evaluates the capture theory.
Download or read book Public Utility Regulation written by Kenneth Nowotny and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: David B. Smith This is a book about the application of economic theory to a unique form of social control - public utility regulation. A central theme of this work is to examine the role that economics has played in shaping the rationale and direction of regulatory practices. While economic theory has played an important role in the shaping of regulatory policy in the past, it has an even greater potential role to play in the future as the regulatory community grapples with the many challenges of a changing economic environment. This is a very timely and much needed piece of work that can serve as a reference for decision makers who are facing the challeng ing problems of deregulation and competition. This work is comprised of 13 selected articles that guide the reader from an initial discussion of why we decided to regulate certain industries in the first place to a specific analysis of what role economic theory has played in the electric, natural gas, telecommunications, and water indus tries, and whether it should be allowed to play an even more dominant role in the future. The reader is then provided with a more modern version of what economists mean by the concept of natural monopoly and a menu of policy options that will allow society to derive any benefits from such a market structure.
Download or read book Regulatory Interventionism in the Utility Industry written by Barbara R. Barkovich and published by Praeger. This book was released on 1989 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the 1970s and early 1980s utility regulators moved from largely unintrusive regulatory practices towards more aggressive and intrusive strategies. This study explores the reasons for the change and examines the trade-offs involved between seeking fairness to customers and efficiency of operations as primary goals of regulatory policies. An extended case study of the California Public Utilities Commission's conservation policies and utility programs from 1975 to 1984 is used to test theoretical explanations of interventionism. In a look toward the future of interventionist regulatory behavior, Barkovich concludes that in the future regulators will face more stringent limitations in pursuing certain forms of interventionism. Business Information ALERT This pioneering study analyzes the changing nature of utility regulation in the United States, with particular emphasis on the 1970s and early 1980s when regulators moved from largely unintrusive regulatory practices toward more aggressive and intrusive strategies. Barkovich explores the reasons for this change in regulatory behavior and examines the trade-offs involved between seeking fairness to customers and efficiency of operations as primary goals of regulatory policies. Theoretical explanations of regulatory interventionism are then tested in an extended case study of the California Public Utilities Commission's (CPUC) conservation policies and utility programs from 1975 to 1984--widely cited as among the most active and creative in the nation. Barkovich identifies three factors influencing regulatory decisionmaking--interest groups, the regulatory commission organization, and ideology--and proposes an extension of existing regulatory theory to explain interventionist behavior. Based upon an in-depth examination of the CPUC's policymaking, she demonstrates that regulatory interventionism has a number of prerequisites, among them factors which promote regulatory autonomy and reduce external constraints upon regulators. Finally, Barkovich looks toward the future of interventionist regulatory behavior in an increasingly market-oriented, service delivery system, concluding that, in the future, regulators will face more stringent limitations in pursuing certain forms of interventionism. Energy industry professionals, regulatory decisionmakers, and students of the utility industry and of government regulation of business will find important new insights into the social, political, and economic dynamics of utility regulation.
Download or read book Studies in Public Regulation written by Gary Fromm and published by MIT Press. This book was released on 1983 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This is a stimulating collection.... Each [paper] makes an original contribution to some aspect of the economics of regulation. " Contributors Paul L. Joskow, Roger G. Noll, Robert D. Willig, Elizabeth E. Bailey, Patricia Munch, Dennis Smallwood, Richard C. Levin, Robert A. Leone, John E. Jackson, Melvyn A. Fuss, Leonard Waverman, Kenneth C. Baseman, and Sam Peltzman A Regulation of Economic Activity series paperback.
Download or read book Evolutionary Stakeholder Theory and Public Utility Regulation written by William Kline and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Public utility regulation is one example of how stakeholder theory has actually evolved in practice. Through trial and error, court cases, statutory law and economic realities, stakeholder theory has its origins almost a century before R Edward Freeman published his seminal work Strategic Management: A Stakeholder Approach. This wealth of historical data is largely overlooked by the stakeholder literature. We will show in this article how the specific history of public utility regulation provides at least one answer to how stakeholder theory can be formulated, used, and applied. This process of determining and protecting stakeholder interests is significantly different from rationalist trends in stakeholder theory.1 Rather than first trying to determine the requirements of stakeholder theory in conjunction with an ideal ethical theory, the account given here is of an evolutionary stakeholder theory where rules arise out of the ongoing search for cooperative solutions among all stakeholders.
Download or read book Techniques of Analyzing the Impacts of Certain Electric Utility Ratemaking and Regulatory Policy Concepts written by and published by . This book was released on 1980 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt:
