Regulation of Natural Monopoly

Paul Joskow

Chapter 16 in Handbook of Law and Economics, 2007, vol. 2, pp 1227-1348 from Elsevier

Abstract: This chapter provides a comprehensive overview of the theoretical and empirical literature on the regulation of natural monopolies. It covers alternative definitions of natural monopoly, public interest regulatory goals, alternative regulatory institutions, price regulation with full information, price regulation with imperfect and asymmetric information, and topics on the measurement of the effects of price and entry regulation in practice. The chapter also discusses the literature on network access and pricing to support the introduction of competition into previously regulated monopoly industries.

Keywords: Natural monopoly; economies of scale; sunk costs; price regulation; public utilities; incentive regulation; performance based regulation; network access pricing (search for similar items in EconPapers)
JEL-codes: K (search for similar items in EconPapers)
Date: 2007
ISBN: 978-0-444-53120-9
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Citations: View citations in EconPapers (55)

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