This book provides a comprehensive analysis of the application of the new theory of contestable markets to the problem of the transition to deregulation in regulated industries. It offers an extensive review of both the theory and practice of contestable markets, as well as guidelines for the practical application of the theory to regulated industries and antitrust, with special consideration given to the problems of the rail industry. As applied in this industry, the theory promised to help balance the conflicting goals of regulatory transition and to define standards for revenue...
This book provides a comprehensive analysis of the application of the new theory of contestable markets to the problem of the transition to deregul...
It is common to assert that utility investors are compensated in the allowed rate of return for the risk of large disallowances, such as arise for investments found imprudent or not used and useful'. However, this book develops a new theory of asymmetric regulatory risk that shows that infallible estimates of the cost of capital are sure to provide downward-biased estimates of the necessary allowed rates of return in the presence of such regulatory risks. The book uses the new theory of regulatory risk to understand recent developments in the risk of natural gas pipelines and other regulated...
It is common to assert that utility investors are compensated in the allowed rate of return for the risk of large disallowances, such as arise for inv...
Collective ratemaking in the motor carrier industry is undoubtedly one of the most poorly understood issues in the literature on economic regulation. While strongly held opinions are commonplace, real knowledge of the collective ratemaking process and of how trucking tariffs are constructed is scarce. William Tye closes this gap in our knowledge with the most comprehensive study yet of the effects of the Motor Carrier Act of 1980 on competition on the trucking industry.
Collective ratemaking in the motor carrier industry is undoubtedly one of the most poorly understood issues in the literature on economic regulatio...
William Tye draws on his large body of work in the area of railroad deregulation to address specific economic problems associated with deregulation. He elucidates principles that can be applied to any major industry entering the competitive marketplace--particularly telecommunications and other utilities, including gas and electric. Tye has updated and revised his previous articles and structured them into an integrated framework. Each section addresses a major issue and can be read on a stand-alone basis. By providing appropriate economic models and rules for successful transition, this...
William Tye draws on his large body of work in the area of railroad deregulation to address specific economic problems associated with deregulation...
