The Economics of Regulation:

por KAHN, Alfred E.
[ Livros ] Publicado por : The MIT Press, (Massachusetts, Estados Unidos:) Detalhes físicos: 360 p. ISBN:262111292. Ano: 1998 Tipo de Material: Livros
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Foreword by Paul L.Joskow
Introduction: A Postcript, Seventeen Years After
•The Deregulation Revolution
•The Rcsiiits of Deregulation in the Structurally Competitive Industries
•Changes in Utility Regulatory Practices—Aggregate Revenue Requirements
•Changes in Utility Regulatory Practices—Rate Structures
•The Anomalies and Distortions of Partial Deregulation

Preface 1
Volume I Economic Principies
Part I
The Institution of Regulated Monopoly

1 Introduction: The Rationale of Regulation and the Proper Role of Economics
The Reguiated Sector
The Legal Rationale
The Distinction in Practice
The Economic Rationale
The Economics of Regulation
Economics and Noneconomics, Science and Prescription
What Can Economics Contribute? Principies and Institutions
2 The Traditional Issues in the Pricing of Public Utility Services
The Limited Attention to Quaiity ofService 21 Regulating the Rate Level
•Supervision and Controi of Operating Costs and Capital Outiays
•Determination of Lhe "Rate Base"
•Selection of the Permitted Rate of Return
Problems in Measuring lhe Cosi of Capital
Should lhe Rale Be Adjusted for Changes in Prices?
The Standard of Comparable Earnings
The Problem of Rewar& and Incentives
Regulating Rate Sinictures
Appendix A: Explanation oU Mathematicai Derivation of Cost oU Capital Formula

Part II
Economic Principies of Rate Making
Marginal Cost Pricing
The Central Economic Principie: Marginal Cost Pricing
l'robienis oU Delining Marginal Cosi
•Specitying the Time Perspective
•Specifying the Incrementai Biock oU Output
•ldentifyiiig Marginal Cosi When a Large Proportion oU Cosis Are Comnum
Tempering Principie with Practicality --- or One PrincipIe witli Another
4 The Application of Long- and Short-Run Marginal Costs
The Distribution oU Capacity Costs
•The Shift to Long-Run Marginal Costs
•Peak Responsibility
The Appropriate Time Pattcrn of Rates
•Clianging Relationship oU Capacity to Demand
•Changing Cosi Leveis: Reproduction versus Original Capital Costs
•Deprecialion Policy and Technological Process
5 Decreasing Costs and Price Discrimination
'l'he Occasions for Discrimination
•The Nature and Prevalence oU Decreasing Costs
•Implications and Solutions
•Technologicai Progress and Oveihead Costs
PrincipIes of Discrimination
•Who Deserves the MC Piice?
•The Proper Limits of Discrimination
Fully Distributed Costs
6 Rate-Making in the Presence of Competition
The Central Role oU Loiig-Run Marginal Costs
The Impaci oH Competition at the Secondary Level
Iinpact ai the Primary Levei and Other Institutional Considerations
7 Qualifications: Practicability, Externalities, Second-Best and Noneconomic Considerations
Administrative Considerations
Noneconomic Considerations
The Probiem of Second Besi

Volume II Institutional Issues
1 Monopoly and Protectionism
The Association of Regulation with Monopoly Protectionism and Conservatism
The Maior Carrier Act of 1935
The Probleins Creaied bExempi Carriei
Price Culiing by the Railroads
The Orientalion of I?egulalmy Policy
The Tendency oF Regulation to Spread
•Coinrnunity Antenna Television
A Few Warning Notes
2 Incentives and Distortions
The A-J---W Ef'fèt 49 Incentive Plans
The Problem of lntercompany Coordination
•The ImperE ect Adaptation of Business Structuie: Electric Power
Regulatory Planniiig
The Adjudicatory Role and Its Consequences
Conclusion: The Inherent Limitations of Regulation
3 Positive Influences on Public Utility Performance
Evideuce of Good Performance
Intcriial Motivations
The Profil Motive
Mana geriaiism
Technological Factors
Market Factors
Elasticity af Demand
The Threat o! Government Enterprise
The A-J-W Effect
The Role of Regulation
4 The Role and Definition of Competition: Natural Monopoly
Econo,nics of Scale
• Evolution o! the Natural Monopoly Concept
• The Essential Prercquisite of Natural Monopoly
• Cases ofApparently lncreasing Costs
Competitive Certification versus Centralized Planning and Responsibility
•The National Telecommunications Network
The Above-890 Decisions
The MCI Cases
The Communications Sateilite
Alien Attachments
If Competitors Want to Enler, How Natural Can Monopoly Be?
Natural Gas Transmission
Economies of Scale
Coordinaled Investmenl Planning
The Role of Compelitive Considerations
Compelilion for Existing Business versus Prolectionism
Destructive Competition and the Quality of Service
The Theory and Prerequisites of Destructive Competition
The Theory Applied
•The Case of Trucking
Does Trucking Pass lhe TesL
Would Qualily Standards Suffice?
The Effect on Indusiry Performance
•Stock Excliange Brokerage Commissions
•The Regulation of Nonprice Competition: Air Transport
The Issue of Cream-Skimming
•The Economic Case for Unrestricted Cream-Skimming
•Possible Cases against Cream-Skimming
The Imperfeclions ofCoinpetilion Case
The Discriminalion Problem
The Promolional Case
Externalities, Option Demand and lhe Tyranny of Small Decisions
Offsetting Imperfections and lhe Problem of Second BesI
Noneconomic Considerations
•Conclusion: The Benefits and Dangers of Discriminatory Competition
6 The Role and Definition of Competition: Integration
Financial Integration
•Combination Companies
Transportalion 268 Eleclric and Gas
•Horizontal and Geographic Integration
•Vertical Integration in Communications
•Financial Integration: The Problem ofJudgment
Intercompany Coordination
•Piggyback Service
•Power Pooling
7 The Institution of Regulated Monopoly: Reprise
Integration, Coordination, and Competition as Partial Akernatives
The Imperfections of Regulated Monopoly
The Choice among Imperfect Systems
Selected Bibliography
Index, Volumes I and II

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