Description
Book SynopsisA comprehensive and accessible textbook that connects the latest research on economic regulation with an examination of how regulation is applied in eight essential service industries. Discussion questions explore current debates, and online materials include over 60 applied exercises based on real-life regulatory problems.
Trade Review'This is a fantastic textbook on modern economic regulation that beautifully integrates theory and practice like no other book on the market right now, plus it provides a great coverage of the structure and evolution of institutions in a number of key regulated industries.' Christos Genakos, Cambridge Judge Business School, University of Cambridge
'Chris Decker's new book/edition is an invaluable up-to-date analysis and review of the regulation of network industries. It contains a sophisticated treatment of more general or theoretical issues concerning regulation, including the key issue of institutional form, now supplemented by a new chapter on behavioural economics and regulation. The coverage in individual chapters is now expanded beyond the trio of energy, telecoms and water, to include payment systems, aviation and rail, and digital platforms - a huge focus of current regulatory interest. All chapters draw illustrations from the experience of several different countries. Readers can determine how much detail they want to go into, from a more basic understanding to a more granular and up-to-date account of recent developments and directions of change. There is also a very extensive bibliography.' Martin Cave, London School of Economics
'Modern Economic Regulation was already the best and most comprehensive economics of regulation text on the market, and now, with the addition of chapters on the regulation of payment systems, digital platforms, railways and aviation, as well as the interaction of behavioural economics and regulation, it is even better! Assign it to your master's and advanced undergraduate students, as I do to mine.' Russell Pittman, Visiting Professor, Kyiv School of Economics and Director of Economic Research, Antitrust Division, US Department of Justice
Table of ContentsList of figures; List of tables; List of boxes; Preface to the second edition; Acknowledgements; List of selected acronyms and abbreviations; 1. Introduction; Part I. 2. The perennial question: why regulate?; 3. Is economic regulation inevitable?; Part II. 4. Principles of regulation for core network activities; 5. Forms of price regulation; 6. Regulation in the presence of competition; 7. Behavioural economics and regulation; Part III. 8. The institutions of regulation; 9. Electricity regulation; 10. Gas regulation; 11. Telecommunications regulation; 12. Payment systems regulation; 13. Digital platforms regulation; 14. Rail regulation; 15. Aviation regulation; 16. Water and wastewater regulation; 17. Conclusions; Cases and legislation; Bibliography; Index.
