Publication gives comprehensive overview of regulation economics
The International Handbook on Economic Regulation, edited by Michael Crew and David Parker and published by Edward Elgar provides those who work in regulation, and interested students, with an up-to-date, comprehensive and accessible understanding of the theory and practice of regulatory economics across a range of sectors.
Experts from Frontier have contributed chapters to this new publication, that combine the analytical logic of economic regulation with practical experiences.
Dan Elliott (Director) reviews the methodologies used to regulate quality of service, and considers the extent to which they have been effective. A review of the evidence suggests that, for many UK sectors, service has improved since privatisation, but in others there has been a marked deterioration.
Phil Burns (Director), Cloda Jenkins (Consultant) and Tom Weyman-Jones (Associate) provide a summary of the literature on incentive regulation and comment on the information constraints faced by regulators that influence the design of practical incentive mechanisms. Case studies are used to illustrate how regulators have attempted to address the information problem in practice, with varying degrees of success.
The papers show that there is widespread support and acceptance of the importance of incentive regulation. On the other hand a number of complex issues, arising from the information problem and the dynamic nature of regulatory interaction, remain unresolved � both in the literature and in practice.
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