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Cover Art
Author Sherman, Roger, 1930-

Title The regulation of monopoly / Roger Sherman.

Published Cambridge ; New York : Cambridge University Press, 1989.


Location Call No. Status
 UniM Giblin Eunson  338.82 SHER    AVAILABLE
Physical description xi, 315 pages : illustrations ; 24 cm
Notes " ... useful in upper-level undergraduate courses as well as in graduate courses"--Pref.
Includes index.
Bibliography Bibliography: pages 291-310.
Contents 1 Regulation of monopoly 3 -- 2 Representing economic welfare 17 -- 3 Pursuing economic welfare 53 -- Part II Optimal pricing -- 4 Ideal public pricing 91 -- 5 Second-best public pricing 124 -- 6 Equity in public pricing 158 -- Part III Institutions of monopoly regulation -- 7 Rate-of-return regulation 183 -- 8 Input choices under rate-of-return regulation 205 -- 9 Pricing under rate-of-return regulation 230 -- 10 Budget-constrained public enterprise 257.
Summary Competition may not function well where technology calls for large and complex investments, as in the electricity industry where public utilities often provide service. This book presents economic welfare foundations for the purpose of evaluating how well, from a social point of view, an enterprise performs when competition is unable to function. Problems with existing institutions are emphasized. Topics treated include welfare measures and their uses in peak-load pricing, second-best pricing, and income distribution. Professor Sherman covers public choice difficulities of government intervention, and describes problems with incentives in statutory monopolies and efforts to overcome them through the study of principal-agent relationships. Contestability and sustainable prices are also discussed, as well as effects of uncertainty and imperfect information.
Subject Monopolies -- Government policy.
Welfare economics.
ISBN 0521368626 (paperback)