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Endogenous Regulatory Constraints and the Emergence of Hybrid Regulation

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  • Larry Blank

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  • John Mayo

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Abstract

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Suggested Citation

  • Larry Blank & John Mayo, 2009. "Endogenous Regulatory Constraints and the Emergence of Hybrid Regulation," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 35(3), pages 233-255, November.
  • Handle: RePEc:kap:revind:v:35:y:2009:i:3:p:233-255
    DOI: 10.1007/s11151-009-9227-y
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    References listed on IDEAS

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    1. Blank, Larry Robert, 1996. "Concavity Assumptions in Regulatory Models and the Capital Waste Controversy," Journal of Regulatory Economics, Springer, vol. 9(1), pages 95-100, January.
    2. Baron, David P., 1989. "Design of regulatory mechanisms and institutions," Handbook of Industrial Organization,in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 2, chapter 24, pages 1347-1447 Elsevier.
    3. Thomas P. Lyon, 1991. "Regulation with 20-20 Hindsight: "Heads I Win, Tails You Lose"?," RAND Journal of Economics, The RAND Corporation, vol. 22(4), pages 581-595, Winter.
    4. Weisman, Dennis L, 1993. "Superior Regulatory Regimes in Theory and Practice," Journal of Regulatory Economics, Springer, vol. 5(4), pages 355-366, December.
    5. Lyon, Thomas P, 1996. "A Model of Sliding-Scale Regulation," Journal of Regulatory Economics, Springer, vol. 9(3), pages 227-247, May.
    6. Sappington, David E. M. & Weisman, Dennis L., 1996. "Revenue sharing in incentive regulation plans," Information Economics and Policy, Elsevier, vol. 8(3), pages 229-248, September.
    7. T. Randolph Beard & David L. Kaserman & John W. Mayo, 2003. "A Graphical Exposition of the Economic Theory of Regulation," Economic Inquiry, Western Economic Association International, vol. 41(4), pages 592-606, October.
    8. Armstrong, Mark & Sappington, David E.M., 2007. "Recent Developments in the Theory of Regulation," Handbook of Industrial Organization, Elsevier.
    9. Kennedy, Thomas E, 1977. "The Regulated Firm with a Fixed Proportion Production Function," American Economic Review, American Economic Association, vol. 67(5), pages 968-971, December.
    10. Lyon, Thomas P, 1995. "Regulatory Hindsight Review and Innovation by Electric Utilities," Journal of Regulatory Economics, Springer, vol. 7(3), pages 233-254, May.
    11. Littlechild, Stephen, 1988. "Economic Regulation of Privatised Water Authorities and Some Further Reflections," Oxford Review of Economic Policy, Oxford University Press, vol. 4(2), pages 40-68, Summer.
    12. Sherman, Roger, 1992. "Capital Waste in the Rate-of-Return Regulated Firm," Journal of Regulatory Economics, Springer, vol. 4(2), pages 197-204, June.
    13. Tracy R. Lewis & David E.M. Sappington, 1989. "Regulatory Options and Price-Cap Regulation," RAND Journal of Economics, The RAND Corporation, vol. 20(3), pages 405-416, Autumn.
    14. Noll, Roger G., 1989. "Economic perspectives on the politics of regulation," Handbook of Industrial Organization,in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 2, chapter 22, pages 1253-1287 Elsevier.
    15. Joskow, Paul L, 1974. "Inflation and Environmental Concern: Structural Change in the Process of Public Utility Price Regulation," Journal of Law and Economics, University of Chicago Press, vol. 17(2), pages 291-327, October.
    16. Richard A. Posner, 1974. "Theories of Economic Regulation," Bell Journal of Economics, The RAND Corporation, vol. 5(2), pages 335-358, Autumn.
    17. Liston, Catherine, 1993. "Price-Cap versus Rate-of-Return Regulation," Journal of Regulatory Economics, Springer, vol. 5(1), pages 25-48, March.
    18. Donald, Stephen G & Sappington, David E M, 1995. "Explaining the Choice among Regulatory Plans in the U.S. Telecommunications Industry," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 4(2), pages 237-265, Summer.
    19. Evans, Lewis & Garber, Steven, 1988. "Public-Utility Regulators Are Only Human: A Positive Theory of Rational Constraints," American Economic Review, American Economic Association, vol. 78(3), pages 444-462, June.
    20. Crew, Michael A & Kleindorfer, Paul R, 2002. "Regulatory Economics: Twenty Years of Progress?," Journal of Regulatory Economics, Springer, vol. 21(1), pages 5-22, January.
    21. Caudill, Steven B & Im, Bae-Geun & Kaserman, David L, 1993. "Modeling Regulatory Behavior: The Economic Theory of Regulation versus Alternative Theories and Simple Rules of Thumb," Journal of Regulatory Economics, Springer, vol. 5(3), pages 251-262, September.
    22. Gary S. Becker, 1983. "A Theory of Competition Among Pressure Groups for Political Influence," The Quarterly Journal of Economics, Oxford University Press, vol. 98(3), pages 371-400.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. David Sappington & Dennis Weisman, 2010. "Price cap regulation: what have we learned from 25 years of experience in the telecommunications industry?," Journal of Regulatory Economics, Springer, vol. 38(3), pages 227-257, December.
    2. Cambini, Carlo & Meletiou, Alexis & Bompard, Ettore & Masera, Marcelo, 2016. "Market and regulatory factors influencing smart-grid investment in Europe: Evidence from pilot projects and implications for reform," Utilities Policy, Elsevier, vol. 40(C), pages 36-47.
    3. Nongluk Buranabunyut & James Peoples, 2012. "An empirical analysis of incentive regulation and the allocation of inputs in the US telecommunications industry," Journal of Regulatory Economics, Springer, vol. 41(2), pages 181-200, April.
    4. John W. Mayo & David E. M. Sappington, 2016. "Regulation in a ‘Deregulated’ Industry: Railroads in the Post-Staggers Era," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 49(2), pages 203-227, September.
    5. Halkos, George & Tzeremes, Nickolaos, 2011. "A conditional full frontier approach for investigating the Averch-Johnson effect," MPRA Paper 35491, University Library of Munich, Germany.
    6. G. Fellows, 2015. "The capital structure of a firm under rate of return regulation: durability and the yield curve," Journal of Regulatory Economics, Springer, vol. 47(3), pages 273-299, June.
    7. repec:kap:decono:v:166:y:2018:i:1:d:10.1007_s10645-017-9310-y is not listed on IDEAS

    More about this item

    Keywords

    Endogenous regulation; Rate-of-return; Profit sharing; L51; L97;

    JEL classification:

    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
    • L97 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Utilities: General

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