Download or read book Modern Economic Regulation written by Christopher Decker and published by Cambridge University Press. This book was released on 2015 with total page 489 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book synthesises the vast literature on economic regulation into a coherent overview of regulatory theory and practice.
Download or read book The Theory of Competitive Price written by George Joseph Stigler and published by . This book was released on 1946 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Regulation and Markets written by Daniel F. Spulber and published by MIT Press. This book was released on 1989 with total page 720 pages. Available in PDF, EPUB and Kindle. Book excerpt: Regulation and Markets provides the up to date, integrated analysis of regulatory policies and the administrative process that is needed in today's field of regulation economics. The book takes a modern perspective, using the tools of industrial organization and game theory. It is the only unified treatment of the field and combines theoretical models with consideration of public policy issues in the areas of antitrust, price regulation, environmental regulation, product quality, and workplace safety. The discussion considers both the welfare effects of regulation and the institutional aspects of the administrative regulatory process. Developments in the fields of law and political science have been integrated in a rigorous manner into the economic framework.Sections of the book address administrative process and market allocation, competition and pricing under increasing returns to scale, administrative regulation of markets, and antitrust enforcement. The conclusion evaluates regulatory policy and deregulation. Extensive literature citations throughout enhance the books value as a reference.
Download or read book Taking Economics Seriously written by Dean Baker and published by MIT Press. This book was released on 2010-04-02 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: A leading economist's exploration of what our economic arrangements might look like if we applied basic principles without ideological blinders. There is nothing wrong with economics, Dean Baker contends, but economists routinely ignore their own principles when it comes to economic policy. What would policy look like if we took basic principles of mainstream economics seriously and applied them consistently? In the debate over regulation, for example, Baker—one of the few economists who predicted the meltdown of fall 2008—points out that ideological blinders have obscured the fact there is no “free market” to protect. Modern markets are highly regulated, although intrusive regulations such as copyright and patents are rarely viewed as regulatory devices. If we admit the extent to which the economy is and will be regulated, we have many more options in designing policy and deciding who benefits from it. On health care reform, Baker complains that economists ignore another basic idea: marginal cost pricing. Unlike all other industries, medical services are priced extraordinarily high, far above the cost of production, yet that discrepancy is rarely addressed in the debate about health care reform. What if we applied marginal cost pricing—making doctors' wages competitive and charging less for prescription drugs and tests such as MRIs? Taking Economics Seriously offers an alternative Econ 101. It introduces economic principles and thinks through what we might gain if we free ourselves from ideological blinders and get back to basics in the most troubled parts of our economy.
Download or read book Law and Economics of Regulation written by Klaus Mathis and published by Springer Nature. This book was released on 2021-04-24 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores current issues regarding the regulation of various economic sectors, theoretically and empirically, discussing both neoclassical and behavioural economics approaches to regulation. Regulation has become one of the main determinants of modern economies, and virtually every sector is subject to general laws and regulations as well as specific rules and standards. A traditional argument to justify regulatory interventions is the promotion of public interests. Fixing markets that lack competition, balancing information asymmetries, internalising externalities, mitigating systemic risks, and protecting consumers from irrational behaviour are frequently invoked to complement the invisible hand of the market with the visible hand of the state.However, regulations can lead to unintended consequences, and serve the interests of powerful private interest groups rather than the public interest and social welfare. In addition, new insights from behavioural economics question the traditional regulatory approaches, most prominently in attitudes towards consumers. Furthermore, digitalisation and technological innovation in general present new challenges in terms of both the type of regulation and the regulatory process.Part I of this book discusses various theoretical approaches to the economic analysis of regulations, while Part II looks at specific applications of the law and economics of regulation.
Download or read book Optimal Regulation written by Kenneth Train and published by Mit Press. This book was released on 1991 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt: Optimal Regulation addresses the central issue of regulatory economics - how toregulate firms in a way that induces them to produce and price "optimally." It synthesizes the majorfindings of an extensive theoretical literature on what constitutes optimality in various situationsand which regulatory mechanisms can be used to achieve it. It is the first text to provide aunified, modern, and nontechnical treatment of the field.The book includes models for regulatingoptimal output, tariffs, and surplus subsidy schemes, and presents all of the material graphically,with clear explanations of often highly technical topics.Kenneth E. Train is Associate AdjunctProfessor in the Department of Economics and Graduate School of Public Policy at the University ofCalifornia, Berkeley. He is also Principal of the firm Cambridge Systematics.Topics include: Thecost structure of natural monopoly (economies of scale and scope). Characterization of firstandsecond-best optimality. Surplus subsidy schemes for attaining first-best optimality. Ramsey pricesand the Vogelsang-Finsinger mechanism for attaining them. Time-ofuse (TOU) prices and Riordan'smechanisms for attaining the optimal TOU prices' Multipart and self-selecting tariffs, and Sibley'smethod for using self-selecting tariffs to achieve optimality. The Averch-Johnson model of howrate-of-return regulation induces inefficiencies. Analysis of regulation based on the firm's returnon Output, costs, or sales. Price-cap regulation. Regulatory treatment of uncertainty and its impacton the firm's behavior. Methods of attaining optimality without direct regulation (contestability,auctioning the monopoly franchise.)
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 The Economic Regulation of Broadcasting Markets written by Paul Seabright and published by Cambridge University Press. This book was released on 2007-04-26 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt: New technology is revolutionizing broadcasting markets. As the cost of bandwidth processing and delivery fall, information-intensive services that once bore little economic relationship to each other are now increasingly related as substitutes or complements. Television, newspapers, telecoms and the internet compete ever more fiercely for audience attention. At the same time, digital encoding makes it possible to charge prices for content that had previously been broadcast for free. This is creating new markets where none existed before. How should public policy respond? Will competition lead to better services, higher quality and more consumer choice - or to a proliferation of low-quality channels? Will it lead to dominance of the market by a few powerful media conglomerates? Using the insights of modern microeconomics, this book provides a state-of-the-art analysis of these and other issues by investigating the power of regulation to shape and control broadcasting markets.
Download or read book Modern Economic Regulation written by Christopher Decker and published by Cambridge University Press. This book was released on 2023-05-31 with total page 779 pages. Available in PDF, EPUB and Kindle. Book excerpt: Brings economic regulation to life by tracing theoretical insights through to real-world applications in eight essential regulated sectors.
Download or read book Market Regulation written by Roger Sherman and published by Addison-Wesley Longman. This book was released on 2008 with total page 968 pages. Available in PDF, EPUB and Kindle. Book excerpt: Market Regulation gives students the economic intuition to analyze the history of antitrust and regulation, diagnose current corporate strategy, and evaluate possible policy recommendations. Roger Sherman grounds modern examples in historical context and develops thought-provoking discussions to motivate students from many different majors. The structure of the text can easily be adapted for use in a variety of courses. Three main sections--antitrust, industry regulation, and social regulation--present the basic theories. The industry regulation chapters (Part II) are self-contained for flexibility, covering specific industries such as communications, postal service, and energy. "Roger is one of those scholars who is a true credit to the academic world. Not only is he a fine researcher but he has been a great positive influence on graduate students and colleagues over the years. His book is a comprehensive treatment of regulation by one of the best qualified to write such a book." --Michael Crew, Rutgers University
Download or read book Pricing and Price Regulation written by D. Bös and published by Elsevier. This book was released on 2015-12-04 with total page 465 pages. Available in PDF, EPUB and Kindle. Book excerpt: This clear, precisely written text presents an important branch of the modern, micro-economically based theory of industrial organization and of public finance, utilizing calculus only. Answers are provided to some pertinent economic questions, such as the pricing policies of vote-seeking politicians, of empire-building bureaucrats and of out-put-maximizing and energy-saving public utilities. These policies are compared with the welfare economic benchmark rules e.g. on marginal cost pricing and Ramsey pricing. Great significance is attached to price regulation. The book elucidates the recent replacement of rate of return regulation by price-cap regulation. It also explains why many simple rules like yardstick regulation fail to achieve optimal prices, which shows how complicated it is to induce managers to truthfully reveal their private information. How this can be achieved properly is shown in various principal-agent models on regulation with uncertain costs, uncertain demand and with soft budget constraints.
Download or read book Rethinking Market Regulation written by John N. Drobak and published by Oxford University Press. This book was released on 2021-05-25 with total page 183 pages. Available in PDF, EPUB and Kindle. Book excerpt: A subversive approach to economic theory, Rethinking Market Regulation explores the devastating impact of globalisation and a lack of governmental regulation on the US workforce. It challenges two key economic principles: that markets are competitive, making government intervention unnecessary, and the claim that corporations exist for the benefit of their shareholders, but not for other stakeholders. Arguing that both principles are based in myth, this book offers an insightful perspective into the plight of workers faced with widespread job losses through the merging and outsourcing of resources. Rethinking Market Regulation ties together the problems that come with using economic principles as a justification for a lack of government intervention with the harm and widespread social repercussions faced by workers. With a close focus on the personal and financial consequences of losing employment, this book offers a compelling comparison of the legal and social treatment of labor in the US and the EU, closing with the recommendation for a new regulatory regime as a prescription for the current system of mass inequality and widespread job losses. Rethinking Market Regulation is ideal for scholars, professionals and anyone else interested in gaining an alternative perspective to modern US economic theory and market regulation.
Download or read book Capitalism Culture and Economic Regulation written by Leigh Hancher and published by Oxford University Press. This book was released on 1989 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study explores the problems faced by governments of advanced capitalist nations in regulating their economies through legislation.
Download or read book International Handbook on Economic Regulation written by Michael A. Crew and published by Edward Elgar Publishing. This book was released on 2006 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: Michael Crew and David Parker have compiled a comprehensive, up-to-date and detailed analytical work on leading research issues in the economics of regulation. With contributions from international specialists in economic regulation, the Handbook provides a comprehensive discussion of major developments in both the theory and practice of regulatory economics. This book will be an indispensable source for both students and practitioners of regulation. The Handbook begins by looking at the principles, history and methods of regulation before turning to specialist themes including: pricing and social welfare regulating service quality consumer representation performance benchmarking environmental regulation calculating the cost of capital information revelation and incentives the economics of access charging regulatory governance regulatory policy in developing countries particular issues in the regulation of the telecommunications, energy, transport and water sectors. The International Handbook on Economic Regulation is essential reading for researchers in the economics of regulation and students of regulation on final year undergraduate and postgraduate degree courses. As a major reference work, it is of value and assistance to economists in regulatory offices, regulated companies and government departments.
Download or read book Natural Monopoly Regulation written by Sanford V. Berg and published by Cambridge University Press. This book was released on 1989-01-27 with total page 580 pages. Available in PDF, EPUB and Kindle. Book excerpt: Considered 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.
Download or read book Lochner V New York written by Paul Kens and published by . This book was released on 1998 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: On the case of Joseph Lochner, a baker in Utica, N.Y., charged in 1901 with violating the New York Bakeshop Act of 1895 by requiring an employee to work more than 60 hours in one week.
Download or read book Economic Regulation written by and published by . This book was released on 1981 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
