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

Kenneth Train

ISBN 10: 0262200848 / ISBN 13: 9780262200844

Edité par MIT Press Ltd, United States, Cambridge, Mass., 1991

The book has been read, but is in excellent condition. Pages are intact and not marred by notes or highlighting. The spine remains undamaged. N° de réf. du vendeur GOR007201329

Synopsis :

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.)

À propos de l?auteur: Kenneth E. Train is Associate Adjunct Professor in the Department of Economics and Graduate School of Public Policy at the University of California, Berkeley. He is also Principal of the firm Cambridge Systematics.

Détails bibliographiques

Titre : The Optimal Regulation: Economic Theory of ...
Éditeur : MIT Press Ltd, United States, Cambridge, Mass.
Date d'édition : 1991
Reliure : Paperback
Etat : Very Good