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Optimal Regulation: The Economic Theory of Natural Monopoly
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Optimal Regulation: The Economic Theory of Natural Monopoly
by Kenneth Train
Publisher: The MIT Press 1991
ISBN/ASIN: 0262200848
ISBN-13: 9780262200844
Number of pages: 338
Description:
Optimal Regulation addresses the central issue of regulatory economics -- how to regulate firms in a way that induces them to produce and price 'optimally'. It synthesis an extensive theoretical literature on what constitutes optimality in various situations and what regulatory mechanisms can be used to achieve it.