Modern Economic Regulation
An Introduction to Theory and Practice

Brings economic regulation to life by tracing theoretical insights through to real-world applications in eight essential regulated sectors.

Christopher Decker (Author)

9781009087735, Cambridge University Press

Paperback / softback, published 8 June 2023

774 pages
24.4 x 17 x 3.6 cm, 1.45 kg

'Modern Economic Regulation was already the best and most comprehensive economics of regulation text on the market, and now, with the addition of chapters on the regulation of payment systems, digital platforms, railways and aviation, as well as the interaction of behavioural economics and regulation, it is even better! Assign it to your master's and advanced undergraduate students, as I do to mine.' Russell Pittman, Visiting Professor, Kyiv School of Economics and Director of Economic Research, Antitrust Division, US Department of Justice

Economic regulation affects us all, shaping how we access essential services such as water, energy and transport, as well as how we communicate with one another in the digital world. Modern Economic Regulation describes the core insights of economic theory on which regulatory policies are based and connects this with evidence of how regulation is applied. It focuses on fundamental questions such as: why are certain industries regulated? What principles can inform regulation? How is regulation implemented? Which regulatory policies have been more, or less, effective in practice? All chapters in this second edition are fully updated to reflect the latest research and evidence, while five new chapters cover behavioural economics and the regulation of rail, aviation, payment systems and digital platforms. Each chapter contains discussion questions and topical case studies, and online materials include over 60 applied exercises that explore real-life regulatory problems from around the world.

List of figures
List of tables
List of boxes
Preface to the second edition
Acknowledgements
List of selected acronyms and abbreviations
1. Introduction
Part I. 2. The perennial question: why regulate?
3. Is economic regulation inevitable?
Part II. 4. Principles of regulation for core network activities
5. Forms of price regulation
6. Regulation in the presence of competition
7. Behavioural economics and regulation
Part III. 8. The institutions of regulation
9. Electricity regulation
10. Gas regulation
11. Telecommunications regulation
12. Payment systems regulation
13. Digital platforms regulation
14. Rail regulation
15. Aviation regulation
16. Water and wastewater regulation
17. Conclusions
Cases and legislation
Bibliography
Index.

Subject Areas: Economics of industrial organisation [KCD]