Recipes for Monopoly Regulation

This monograph was the winner of the Nestlé Prize 2000 for the best Austrian PhD-Thesis in the Social Sciences.
As it is not possible to introduce competition into every single market, there will still remain monopolies like in the telecom or energy sector which have to be put under public regulation. This book offers a look into the latest developments in regulatory practice and theory. What shall a regulator do when she wants to give incentives for cost minimization to the regulated firm and at the same time efficient prices to the consumers? After a comparison of different «real world» regulatory regimes, a simple theoretical model is used to assess the «real world» approaches and design optimal policies. The theoretical «recipes» are presented in a way which should be accessible to advanced students and «real world» regulators.

Autorentext

The author: Christian Holzleitner is currently working at the Department of Economics at the University of Linz, Austria. He took both his undergraduate and graduate studies in Economics at the University of Linz and earned his Ph.D. in 1999.

Inhalt
Contents: Regulatory Practice from Rate-of-Return to Incentive Regulation Regulatory Theory from Models of Hidden Effort for Cost Reduction to Models of Hidden Information about Exogenous and Endogenous Cost.