Public Ownership Vs. Regulated Natural Monopolies PDF Download
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Author: Allen Ripley Foote
Publisher:
ISBN:
Category : Municipal franchises
Languages : en
Pages : 116
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Author: Allen Ripley Foote
Publisher:
ISBN:
Category : Municipal franchises
Languages : en
Pages : 116
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Book Description
Author: Christopher D. Foster
Publisher:
ISBN:
Category : Government ownership
Languages : en
Pages : 458
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Author: Richard Schmalensee
Publisher: Free Press
ISBN:
Category : Business & Economics
Languages : en
Pages : 200
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Author: Richard A. Posner
Publisher: Cato Institute
ISBN: 1933995823
Category : Political Science
Languages : en
Pages : 131
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Book Description
Natural 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: Sanford V. Berg
Publisher: Cambridge University Press
ISBN: 9780521338936
Category : Business & Economics
Languages : en
Pages : 580
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Book Description
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.
Author: Margaret Pratt Sproul
Publisher:
ISBN:
Category : Electric utilities
Languages : en
Pages : 116
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Author: Ralph Bradburd
Publisher: World Bank Publications
ISBN:
Category : Government business enterprises
Languages : en
Pages : 48
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Author: Markus Aßner
Publisher: GRIN Verlag
ISBN: 3638782123
Category : Business & Economics
Languages : en
Pages : 33
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Seminar paper from the year 2004 in the subject Economy - Theory of Competition, Competition Policy, grade: 1, University of Ulster (School of Business Organisation and Management), course: Business Economics, 12 entries in the bibliography, language: English, abstract: Index Introduction 1. The market forces argument 4 2. Breakdown of the market forces argument in natural monopolies 6 3. Economic key issues which regulators of privatised industries should consider 8 4. References 12 Introduction This essay covers some issues of privatisation and regulation. It is divided into three parts. Part one gives a brief outline of the author s understanding of the market forces argument for privatisation. In the second part it is explained what is meant by a natural monopoly and why the market forces argument does not hold if an industry is a natural monopoly. The third part then discusses which economic key issues should be considered by the regulatory body of a privatised industry. Privatisation is the transfer of public ownership away from the state to private ownership. Regulation is a limitation on the behaviour of firms or organizations, imposed by the government. From the view of competition it is the aim to remove market distortions which are caused by public enterprises and regulations (Case K. et al. 1999: 356.)
Author: John Vickers
Publisher:
ISBN:
Category : Electric utilities
Languages : en
Pages : 108
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Book Description
Author: Michael A. Crew
Publisher: Springer
ISBN: 1349072958
Category : Social Science
Languages : en
Pages : 306
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