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Full Description
Economic regulation affects us all, shaping how we access essential services such as water, energy and transport, as well as how we communicate with one another in the digital world. Modern Economic Regulation describes the core insights of economic theory on which regulatory policies are based and connects this with evidence of how regulation is applied. It focuses on fundamental questions such as: why are certain industries regulated? What principles can inform regulation? How is regulation implemented? Which regulatory policies have been more, or less, effective in practice? All chapters in this second edition are fully updated to reflect the latest research and evidence, while five new chapters cover behavioural economics and the regulation of rail, aviation, payment systems and digital platforms. Each chapter contains discussion questions and topical case studies, and online materials include over 60 applied exercises that explore real-life regulatory problems from around the world.
Contents
List 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.
