Consistent Regulation of Infrastructure Businesses: Some Economic Issues
This paper examines some important economic aspects associated with the notion that consistency in the regulation of infrastructure businesses is a desirable feature. It makes two important points. First, it is not easy to measure consistency. In particular, one cannot simply point to different regulatory parameters as evidence of inconsistent regulatory policy. Second, even if one does observe consistency emerging from decisions made by different regulators, it does not necessarily mean that this consistency is desirable. It might be the result, at least partially, of career concerns of regulators.
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- Bolt, Chris, 2004. "The role of the Office of Fair Trading and the Competition Commission in establishing common regulatory practices," Utilities Policy, Elsevier, vol. 12(2), pages 83-86, June.
- Robert Breunig & Jeremy Hornby & Scott Stacey & Flavio Menezes, 2006. "Price Regulation in Australia: How Consistent Has It Been?," The Economic Record, The Economic Society of Australia, vol. 82(256), pages 67-76, 03.
- Flavio Menezes & Christian Roessler, 2008.
"Good and Bad Consistency in Regulatory Decisions,"
Discussion Papers Series
376, School of Economics, University of Queensland, Australia.
- 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.
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