Why Johnny Can't Regulate: The Case of Natural Monopoly

Henry Ergas

Agenda - A Journal of Policy Analysis and Reform, 2013, vol. 20, issue 1, 43-54

Abstract: This paper examines the difficulties inherent in regulation as a solution to market failure and, especially, to natural monopoly. It highlights the way regulation itself introduces new risks into the supply of natural monopoly services, including the risk of regulatory opportunism, and argues that delegating regulatory functions to 'independent' regulators does not in itself solve those risks.

Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:acb:agenda:v:20:y:2013:i:1:p:43-54

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