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A collection of articles on economic regulation and its reform. Topics covered include the political economy of regulation, efficient pricing of regulated firms, incentive regulation, the empirical effects of economic regulation in practice and network access pricing for competitive entrants.

With twenty-two chapters written by leading international experts, this volume represents the most detailed and comprehensive Handbook on electricity markets ever published. It covers all dimensions of electricity markets: wholesale and retail; renewable electricity sources; the electrification of mobility, heating and cooling; and recent innovations such as distributed generation, electrical energy storage, demand response and digital platforms that are disrupting the industry. The benefits, as well as the limits, of open markets and competition are assessed at the level of...

Markets for Power provides an unusually complete analysis of the economic, technical, and institutional aspects of the electric utility industry. The authors evaluate four currently popular options for deregulating this unique segment of the economy, and in a balanced program for reform, they advise against total deregulation and recommend a cautious approach to even partial deregulation.Paul L. Joskow is Professor of Economics and Richard Schmalensee is Professor of Applied Economics, both at MIT