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 synthesizes the major findings of an extensive theoretical literature on what constitutes optimality in various situations and which regulatory mechanisms can be used to achieve it. It is the first text to provide a unified, modern, and nontechnical treatment of the field. The book includes models for regulating optimal output, tariffs, and surplus subsidy schemes, and presents all of the material graphically, with clear explanations of often highly technical topics.

Topics include
The cost structure of natural monopoly (economies of scale and scope) � Characterization of firstand second-best optimality � Surplus subsidy schemes for attaining first-best optimality � Ramsey prices and the Vogelsang-Finsinger mechanism for attaining them � Time-ofuse (TOU) prices and Riordan's mechanisms for attaining the optimal TOU prices' Multipart and self-selecting tariffs, and Sibley's method for using self-selecting tariffs to achieve optimality � The Averch-Johnson model of how rate-of-return regulation induces inefficiencies � Analysis of regulation based on the firm's return on Output, costs, or sales � Price-cap regulation � Regulatory treatment of uncertainty and its impact on the firm's behavior � Methods of attaining optimality without direct regulation (contestability, auctioning the monopoly franchise.)

About the Author

Kenneth E. Train is Associate Adjunct Professor in the Department of Economics and Graduate School of Public Policy at the University of California, Berkeley. He is also Principal of the firm Cambridge Systematics.

"About this title" may belong to another edition of this title.

Store Description

Better World Books (https://www.BetterWorldBooks.com) is a for-profit, socially conscious business and a global online bookseller that collects and sells new and used books online, matching each purchase with a book donation. Each sale generates funds for literacy and education initiatives in the U.S., the UK, and around the world. Since its launch in 2003, Better World Books has raised $33 million for libraries and literacy, donated over 32 million books, and reused or recycled more than 397 million books.

Visit Seller's Storefront

Seller's business information

Better World Books Marketplace, Inc.
55740 Currant Road, Mishawaka, IN, 46545, U.S.A.

Sale & Shipping Terms

Terms of Sale

Better World Books (BWB) values your satisfaction and offers you returns within thirty (30) days after the estimated delivery date on most items. All returned items must be in the original condition; used items should include the SKU sticker located on the spine or back of the product.

If you have an incomplete, incorrect, or damaged shipment, please contact our Customer Care team via Abebooks contact seller options before proceeding with the return.Please keep in mind that because we deal mostl...

More Information

Shipping Terms

Please allow 1-2 business days for order fulfillment.

Shipping rates within U.S.A.

Shipping rates within U.S.A.
Order quantity	4 to 8 business days	3 to 5 business days
First item	US$ 0.00	US$ 10.00

Delivery times are set by sellers and vary by carrier and location. Orders passing through Customs may face delays and buyers are responsible for any associated duties or fees. Sellers may contact you regarding additional charges to cover any increased costs to ship your items.