Deregulatory Takings and the Regulatory Contract: The Competitive Transformation of Network Industries in the United Statesby J. Gregory Sidak, Daniel F. Spulber
Pub. Date: 09/28/2011
Publisher: Cambridge University Press
This book addresses deregulatory policies that threaten to reduce or destroy the value of private property in network industries without any accompanying payment of just compensation, policies that are termed "deregulatory takings." The authors further consider the problem of renegotiation of the regulatory contract, which changes the terms and conditions of operation of utility companies. They argue that constitutional protections of private property from takings, as well as efficient remedies for contractual breach, provide the proper foundation for the competitive transformation of the network industries.
- Cambridge University Press
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Table of ContentsPreface; 1. The nature of the controversy; 2. Deregulation and network pricing; 3. Quarantines and quagmires; 4. The regulatory contract; 5. Remedies for breach of the regulatory contract; 6. Takings and the property of the regulated utility; 7. Just compensation for deregulatory takings; 8. The efficient component-pricing rule; 9. The market-determined efficient component-pricing rule; 10. Answering the critics of efficient component-pricing; 11. The equivalence rule; 12. TSLRIC pricing and the fallacy of forward-looking costs; 13. Deregulatory takings and efficient capital markets; 14. Limiting principles for stranded cost recovery; 15. Deregulation and managed competition in network industries; 16. The tragedy of the telecommons; References; Indices.
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