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Contributions of Neoclassical Economics to Public Utility Analysis

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  • Sanford V. Berg
  • John Tschirhart

Abstract

Neoclassical economics, the dominant economics paradigm, has influenced and been influenced by developments in regulated industries. We identify major theoretical and empirical accomplishments, discuss the impact of these accomplishments on policy development, and list the channels through which the impacts are made possible. We then discuss regulatory politics, lack of research perspective, an overly narrow focus on economic efficiency, and the academic profession as factors limiting the impact of neoclassical economics on public policy.

Suggested Citation

  • Sanford V. Berg & John Tschirhart, 1995. "Contributions of Neoclassical Economics to Public Utility Analysis," Land Economics, University of Wisconsin Press, vol. 71(3), pages 310-330.
  • Handle: RePEc:uwp:landec:v:71:y:1995:i:3:p:310-330
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    Cited by:

    1. Mark A. Jamison, 2011. "Liberalization and Regulation of Telecoms, Electricity, and Gas in the United States," Chapters,in: International Handbook of Network Industries, chapter 21 Edward Elgar Publishing.
    2. David, Laurent & Le Breton, Michel & Merillon, Olivier, 2007. "Kolm as a Contributor to Public Utility Pricing, Second Best Culture and the Theory of Regulation," IDEI Working Papers 490, Institut d'Économie Industrielle (IDEI), Toulouse.

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