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Regulation and the Free Market: The Problem of Boundaries

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  • James W. McKie

Abstract

The problem of setting appropriate limits to the direct regulation of public utilities is the subject of this article. The problem concerns both the internal and external relationships of the public utility enterprise. Regulation cannot control all of the decisions and internal relationships of the public utility. Regulatory bodies therefore must economize the means and limit the scope of regulation; but they encounter considerable difficulty doing so, because the regulated decisions affect the unregulated ones and the ultimate reactions may escape control.

Suggested Citation

  • James W. McKie, 1970. "Regulation and the Free Market: The Problem of Boundaries," Bell Journal of Economics, The RAND Corporation, vol. 1(1), pages 6-26, Spring.
    • Handle: RePEc:rje:bellje:v:1:y:1970:i:spring:p:6-26
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    Cited by:

    1. Louis Alessi, 1974. "Aneconomic analysis of government ownership and reculation," Public Choice, Springer, vol. 19(1), pages 1-42, September.
    2. Ingo Vogelsang, 2004. "Network Utilities in the U.S. - Sector Reforms without Privatization," CESifo Working Paper Series 1142, CESifo.
    3. John Bowblis & Judith Lucas, 2012. "The impact of state regulations on nursing home care practices," Journal of Regulatory Economics, Springer, vol. 42(1), pages 52-72, August.
    4. Mirucki, Jean, 1980. "Vérification des conditions d'efficacité dans la production chez Bell Canada [Checking the conditions of efficient production in Bell Canada]," MPRA Paper 30147, University Library of Munich, Germany, revised Jun 1980.
    5. Mirucki, Jean, 1980. "Comportement de l'entreprise réglementée: étude de l'hypothèse Averch-Johnson [Behavior of the Regulated Firm: A Study of the Averch-Johnson Hypothesis]," MPRA Paper 27669, University Library of Munich, Germany, revised 1982.
    6. A. Frank Adams & Robert B. Ekelund & John D. Jackson, 2003. "Occupational Licensing of a Credence Good: The Regulation of Midwifery," Southern Economic Journal, John Wiley & Sons, vol. 69(3), pages 659-675, January.

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