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Review of economic theories of regulation

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  • J.A. den Hertog

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This paper reviews the economic theories of regulation. It discusses the public and private interest theories of regulation, as the criticisms that have been leveled at them. The extent to which these theories are also able to account for privatization and deregulation is evaluated and policies involving re-regulation are discussed. The paper thus reviews rate of return regulation, price-cap regulation, yardstick regulation, interconnection and access regulation, and franchising or bidding processes. The primary aim of those instruments is to improve the operating efficiency of the regulated firms. Huge investments will be needed in the regulated network sectors. The question is brought up if regulatory instruments and institutions primarily designed to improve operating efficiency are equally wellplaced to promote the necessary investments and to balance the resulting conflicting interests between for example consumers and investors.

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  • J.A. den Hertog, 2010. "Review of economic theories of regulation," Working Papers 10-18, Utrecht School of Economics.
  • Handle: RePEc:use:tkiwps:1018
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    3. Piotr Szkudlarek, 2021. "Choice Preferences in the Process of Making Regulatory Decisions under Risk and Uncertainty Conditions: An Experimental Study," European Research Studies Journal, European Research Studies Journal, vol. 0(2B), pages 1127-1141.
    4. Mountain, Bruce R., 2019. "Ownership, regulation, and financial disparity: The case of electricity distribution in Australia," Utilities Policy, Elsevier, vol. 60(C), pages 1-1.
    5. Juan Carlos Henao & Daniel Castaño, 2021. "Disrupción tecnológica, transformación digital y sociedad. Tomo III, Derecho, innovación y tecnología: fundamentos para el mundo digital," Books, Universidad Externado de Colombia, Facultad de Derecho, number 1282, March.
    6. Matthias Finger & Torben Holvad, 2013. "Setting the scene: background and overview of regulatory reform in the transport sector," Chapters, in: Mattias Finger & Torben Holvad (ed.), Regulating Transport in Europe, chapter 1, pages 1-35, Edward Elgar Publishing.
    7. Khadijah Adeola Idowu & Jamiu Olakunle Tijani, 2020. "Audit Reporting Lag and Regulatory Compliance in Listed Financial Services Firms in Nigeria: A Cross-Sectoral Evaluation," Academic Journal of Economic Studies, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 6(3), pages 163-173, September.
    8. Elvio Accinelli & Osvaldo Salas, 2019. "El estado de bienestar como un bien público no excluible / The welfare state as a public good not excludable," Estudios Económicos, El Colegio de México, Centro de Estudios Económicos, vol. 34(2), pages 243-273.
    9. Rafiou Raphaël Bétila, 2021. "The impact of Ease of Doing Business on economic growth: a dynamic panel analysis for African countries," SN Business & Economics, Springer, vol. 1(10), pages 1-34, October.
    10. Mulindi, Hillary, 2021. "Cost-benefit analysis of bank regulation: Does size matter?," KBA Centre for Research on Financial Markets and Policy Working Paper Series 51, Kenya Bankers Association (KBA).
    11. Joseph I. Amuka & Miracle O. Ezeoke & Fredrick O. Asogwa, 2016. "Government Spending Pattern and Macroeconomic Stability: A Vector Autoregressive Model," International Journal of Economics and Financial Issues, Econjournals, vol. 6(4), pages 1930-1936.
    12. Samira Guennif, 2022. "Capture and passive predation in times of COVID-19 pandemic," Public Choice, Springer, vol. 193(3), pages 163-186, December.
    13. Sękowski, Stefan, 2021. "The pros and cons of rent-seeking: Political rent in various research paradigms," Studia z Polityki Publicznej / Public Policy Studies, Warsaw School of Economics, vol. 8(2), pages 1-17, July.
    14. Daniel Attah-Kyei & Charles Andoh & Saint Kuttu, 2023. "Risk, technical efficiency and capital requirements of Ghanaian insurers," Risk Management, Palgrave Macmillan, vol. 25(4), pages 1-27, December.
    15. Blanka Vitéz & Saskia Lavrijssen, 2020. "The Energy Transition: Democracy, Justice and Good Regulation of the Heat Market," Energies, MDPI, vol. 13(5), pages 1-24, March.
    16. Ming-Hua Liu & Dimitris Margaritis & Yang Zhang, 2023. "The impact of regulation on credit card market competition: evidence from Australia," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 47(3), pages 669-689, September.
    17. Onyeajuwa, Martha Kanene, 2017. "Institutions and consumers: Assertion of ordinary consumer interest in the Nigerian digital mobile telecommunications market," Telecommunications Policy, Elsevier, vol. 41(7), pages 642-650.
    18. Mertzanis, Charilaos, 2020. "Financial supervision structure, decentralized decision-making and financing constraints," Journal of Economic Behavior & Organization, Elsevier, vol. 174(C), pages 13-37.
    19. Phares, Jonathan & Dobrzykowski, David D. & Prohofsky, Jodi, 2021. "How policy is shaping the macro healthcare delivery supply chain: The emergence of a new tier of retail medical clinics," Business Horizons, Elsevier, vol. 64(3), pages 333-345.

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