Modern Economic Regulation: An Introduction to Theory and Practice

Drawing from the most recent work on economic regulation, this book introduces readers to the main principles and examines how economic regulation is applied in four key public utility industries (electricity, gas, water and telecommunications). Suitable for students and practitioners with little prior knowledge of economic regulation, this book provides an accessible, non-technical entry point to the subject area, exploring the fundamental questions: why do we regulate? What are alternatives to regulation? Which institutions are involved in regulation? What have been the impacts of regulation? Readers will gain a rich understanding of the basic principles that apply to all regulated sectors, as well as the regulatory choices that reflect the specific economic and physical characteristics of different industries. Extensive references provide readers with resources for more in-depth study, and boxed case studies demonstrate connections between regulatory theory and practice.