Structural Change and the Future of Regulation

Harry M. Trebing

Land Economics, 1995, vol. 71, issue 3, 401-414

Abstract: The market-oriented model for partial deregulation of public utilities depends for its success upon pervasive competition. Given high levels of concentration, this places responsibility on market contestability; however, contestability is applicable only within bounded limits for niche markets. A structure-conduct-performance paradigm which emphasizes maximizing network economies while minimizing transaction costs is suggested as a basis for regulatory reform. This requires transparent administration of the network, common carrier status, cost-based network pricing, and open access. Networks would be given common carrier status, with structure and conduct guidelines applied to dominant players and potential abuses in affiliate transactions.

Date: 1995
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