Define regulation and it’s problems , Microeconomics

Assignment Help:

Regulation is not a panacea.  There are troubles with rate regulation.  In our litigious society, the legal proceedings contained in rate regulation are not inexpensive for any of the parties involved, the state, public interest groups, and the firm.  Because of the closeness of the legal advocates, economists, and others contained in the litigation of rate cases, there have been accusations that the public utility commissions have been over-taken by the industries they regulate.  The capture theory of regulation is that the retired executives, and economists and lawyers who have made their mark defending utilities have been appointed to public utility commissions, thereby permitting the utilities to regulate themselves.  While there have been instances where conflicts of interest have been noted, this "capture theory of regulation" probably overstates the relations among the industries regulated and the public utility commissions in most jurisdictions.  

 


Related Discussions:- Define regulation and it’s problems

Production possibilities curves, What are the most important challenges tha...

What are the most important challenges that economists try to address? (ii) What is the role of government in a market based economy? (iii) Who are the main economic players and w

Draw the marginal benefit curve for nutrient cleanup, You are tasked with e...

You are tasked with evaluating a project for reducing nutrient (nitrogen and phosphorus) loading into the Gulf of Mexico (GOM). These nutrients make their way into the GOM by way o

Research methods in economics, What is an index number?compile a chart of t...

What is an index number?compile a chart of the types of consumer price index numbers showing-the agency who prepares it,index formula,target group,groups of items covered and the w

What is neoliberalism, Neoliberalism So much thinking about the proper ...

Neoliberalism So much thinking about the proper role of government in economic growth over the past 2 decades has tends to conclusions which are today known as neo-liberal. The

Market structures, what are the sources of oligopoly power

what are the sources of oligopoly power

Demand, demand elasticity in urdu

demand elasticity in urdu

Find the marginal utilities, An individual derives utility from consuming g...

An individual derives utility from consuming goods X and Y according to the following estimated utility function U = 12X 2/3 Y ¼       X and Y are quantities (units) of

Price, hi i need price,cross and income elasticity of toyota corolla car. ...

hi i need price,cross and income elasticity of toyota corolla car. its only small part of the assignment topic so its need around 500 words. thanks ishwor

Markets, What are markets types of markets

What are markets types of markets

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd