The Foundations of Regulatory Economics

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This three-volume set reprints more than a century and a half of contributions on regulatory economics--from 19th- and early 20th-century discussions of railway rates to recent considerations of electricity regulation in Argentina, regulation of privatized monopolies in the UK, and funeral industry regulation in the US. Volume I (27 papers) discusses the beginnings, cost versus monopoly, early theory of price discrimination and regulation, the search for efficiency rationales, and joint cost and peak load pricing. Volume II (23 papers) addresses public interest and efficiency questions, public interest versus interest groups, contracts and franchise bidding, and externalities, market failure, and regulatory responses. Finally, Volume III (26 papers) presents contemporary issues, regulation and deregulation, empirical studies of regulatory effects, and historical studies. Each volume contains a name index but no subject index. Annotation c. by Book News, Inc., Portland, Or.
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Table of Contents

Volume 1
Acknowledgments ix
Part I Contemporary Issues in Regulatory Economics
1. 'The Effect of Advertising on the Price of Eyeglasses', Journal of Law and Economics, XV (2), October, 337-52 (1972) 3
2. 'Regulation, Advertising, and Economic Welfare', Journal of Business, 64 (2), April, 255-67 (1991) 19
3. 'Bureaucratic Discretion or Congressional Control? Regulatory Policymaking by the Federal Trade Commission', Journal of Political Economy, 91 (5), 765-800 (1983) 32
4. 'An Assessment of the Positive Theory of "Congressional Dominance"', Legislative Studies Quarterly, XII (4), November, 475-520 (1987) 68
5. 'Economic Regulation, Competitive Governments, and Specialized Resources', Journal of Law and Economics, XXVII (2), October, 329-38 (1984) 114
6. 'Time Series Evidence on Shirking in the U.S. House of Representatives', Public Choice, 76, 125-49 (1993) 124
7. 'Predation through Regulation: The Wage and Profit Effects of the Occupational Safety and Health Administration and the Environmental Protection Agency', Journal of Law and Economics, XXX (2), October, 239-64 (1987) 149
8. 'Regulation as an Exogenous Response to Market Failure: A Neo-Schumpeterian Response', Journal of Institutional and Theoretical Economics, 143 (4), December, 537-54 (1987) 175
Part II Regulation and Deregulation: Contemporary Theory, Industries and Issues
9. 'Regulation and Interest Groups', in Jack High (ed.), Regulation: Economic Theory and History, Chapter 2, Ann Arbor: The University of Michigan Press, 59-76 (1991) 195
10. 'The Economic Theory of Regulation after a Decade of Deregulation', Brookings Papers on Economic Activity: Microeconomics, 1-41 (1989) 213
11. '"Captive Shippers" and the Success of Railroads in Capturing Monopoly Rent', Journal of Law and Economics, XXX (2), October, 423-42 (1987) 254
12. 'Railroad Deregulation, Innovation, and Competition: Effects of the Staggers Act on Grain Transportation', Journal of Law and Economics, XXXII (1), April, 63-95 (1989) 274
13. 'Airline Networks as Joint Goods: Implications for Competition Policy', Journal of Regulatory Economics, 4 (2), June, 175-86 (1992) 307
14. 'The Political Economy of Deregulation: The Case of Intrastate Long Distance', Journal of Regulatory Economics, 5 (1), March, 49-63 (1993) 319
15. 'The Regulation of Privatized Monopolies in the United Kingdom', Rand Journal of Economics, 20 (3), Autumn, 454-72 (1989) 334
16. 'How Should It Be Done? Electricity Regulation in Argentina, Brazil, Uruguay, and Chile', in Richard J. Gilbert and Edward P. Kahn (eds), International Comparisons of Electricity Regulation, Chapter 3, New York: Cambridge University Press, 82-125 (1996) 353
Part III Empirical Studies of Regulatory Effects
17. 'Federal Regulation of Whiskey Labelling: From the Repeal of Prohibition to the Present', Journal of Law and Economics, XV (2), October, 411-26 (1972) 399
18. 'Pricing Under Federal Milk Market Regulation', Economic Inquiry, XV, July, 367-84 (1977) 415
19. 'The Effects of Price Regulation in the Automobile Insurance Industry', Journal of Law and Economics, XXII (1), April, 55-89 (1979) 433
20. 'The Effect of Commercial Practice Restrictions: The Case of Optometry', Journal of Law and Economics, XXIX (1), April, 165-86 (1986) 468
21. 'Inefficient Pricing Can Kill: The Case of Dialysis Industry Regulation', Southern Economic Journal, 60 (2), October, 393-404 (1993) 490
Part IV Historical Studies of Regulation
22. 'Nineteenth Century Urban Market Failure?: Chadwick on Funeral Industry Regulation', Journal of Regulatory Economics, 12(1), July, 27-51 (1997) 505
23. 'The Economics of Railroading: The Beginning of Cartelization and Regulation', Bell Journal of Economics and Management Science, 1 (2), Autumn, 227-44 (1970) 530
24. 'The Costs and Benefits of Early Regulation of the Railroads', Bell Journal of Economics, 11 (1), Spring, 343-50 (1980) 548
25. 'Government Prohibitions on Volunteer Fire Fighting in Nineteenth-Century America: A Property Rights Perspective', Journal of Legal Studies, XV (1), January, 69-92 (1986) 556
26. 'Political Choice and the Child Labor Statute of 1938: Public Interest or Interest Group Legislation?', Public Choice, 82, January, 85-106 (1995) 580
Name Index 603
Volume 2
Acknowledgements vii
Part I Cracks in the Mirror: Public Interest and Efficiency Questioned
1. 'Behavior of the Firm Under Regulatory Constraint', American Economic Review, LII, December, 1052-69 (1962) 3
2. 'The Effectiveness of Regulation of Electric Utility Prices', Southern Economic Journal, XXXVI (4), April, 365-75 (1970) 21
3. 'The Effectiveness of the Federal Power Commission', Bell Journal of Economics and Management Science, 1 (2), Autumn, 271-303 (1970) 32
4. 'A Test of the Property-Rights Theory of the Firm: Water Utilities in the United States', Journal of Law and Economics, XXI (2), October, 395-408 (1978) 65
Part II The New Theory of Regulation: Public Interest Versus Interest Groups
5. 'The Theory of Economic Regulation', Bell Journal of Economics and Management Science, 2, Spring, 3-21 (1971) 81
6. 'The Social Costs of Monopoly and Regulation', Journal of Political Economy, 83 (4), August, 807-27 (1975) 100
7. 'Toward a More General Theory of Regulation' and Gary Becker (1976) 'Comment', Journal of Law and Economics, XIX (2), August, 211-40 and 245-8 (1976) 121
8. 'Rent Extraction and Rent Creation in the Economic Theory of Regulation', Journal of Legal Studies, XVI (1), January, 101-18 (1987) 155
9. 'A Theory of Competition among Pressure Groups for Political Influence', Quarterly Journal of Economics, XCVIII (3), August, 371-400 (1983) 173
10. 'Endogenous Change and the Economic Theory of Regulation', Journal of Regulatory Economics, 3 (3), September, 265-74 (1991) 203
11. 'Efficient versus "Popular" Tariffs for Regulated Monopolies', Journal of Business, 69 (1), January, 75-87 (1996) 213
Part III Contracts and Franchise Bidding
12. 'Why Regulate Utilities?', Journal of Law and Economics, XI, April, 55-65 (1968) 229
13. 'Chadwick and Demsetz on Competition and Regulation', Journal of Law and Economics, XIX (1), April, 149-62 (1976) 240
14. 'Franchise Bidding for Natural Monopolies--in General and with Respect to CATV', Bell Journal of Economics, 7 (1), Spring, 73-104 (1976) 254
15. 'Regulation and Administered Contracts', Bell Journal of Economics, 7 (2), Autumn, 426-48 (1976) 286
16. 'Human Capital and Incumbent Advantages in the Contract Managed Firm', Southern Economic Journal, 47 (1), July, 100-109 (1980) 309
17. 'Capital Fixity, Innovations, and Long-Term Contracting: An Intertemporal Economic Theory of Regulation', American Economic Review, LXXII (1), March, 32-46 (1982) 319
Part IV Externalities, Market Failure and Regulatory Responses
18. 'The Fable of the Bees: An Economic Investigation', Journal of Law and Economics, XVI (1), April, 11-33 (1973) 337
19. 'Transfused Blood, Serum Hepatitis, and the Coase Theorem', Journal of Law and Economics, XVII (2), October, 265-89 (1974) 360
20. 'Contracting Problems and Regulation: The Case of the Fishery', American Economic Review, LXXII (5), December, 1005-22 (1982) 385
21. 'Contractual Responses to the Common Pool: Prorationing of Crude Oil Production', American Economic Review, 74 (1), March, 87-98 (1984) 403
22. 'Mitigating the Tragedy of the Commons', Southern Economic Journal, 52 (3), January, 653-64 (1986) 415
23. 'The Fable of the Keys', Journal of Law and Economics, XXXIII (1), April, 1-25 (1990) 427
Name Index 453
Volume 3
Acknowledgements ix
Introduction xi
Part I The Beginnings
1. 'On Tolls and Transport Charges', translated by Elizabeth Henderson from Annales des Ponts et Chaussees, 2e ser. (1849), 17 in International Economic Papers, No. 11, London: Macmillan & Co Ltd., 7-31 (1962) 3
2. 'The Laws of Trade Applied to the Determination of the Most Advantageous Fare for Passengers on Railroads', Journal of the Franklin Institute, XXVI (6), December, 369-79 (1840) 28
3. 'Monopoly Price Discrimination in 1850: Dionysius Lardner', History of Political Economy, 3, Spring, 208-23 (1971) 38
4. 'Public Economics at the Ecole des Ponts et Chaussees: 1830-1850', Journal of Public Economics, 2, 241-56 (1973) 54
5. 'Results of Different Principles of Legislation and Administration in Europe; of Competition for the Field, as compared with Competition within the Field, of Service', Journal of the Statistical Society, XXII, 381-420 (1859) 70
6. 'The Prohibition of Railroad Pools', Quarterly Journal of Economics, IV, 158-71 (1890) 110
Part II Early Theories of Railway Regulation: Cost Versus Monopoly
7. 'A Contribution to the Theory of Railway Rates', Quarterly Journal of Economics, V, July, 438-65 (1891) 127
8. 'Articles and Controversies between Pigou and Taussig', Quarterly Journal of Economics, XXVII, February, May, August, 378-84, 535-38, 687-94 (1913) 155
9. 'The Theory of Railway Rates Once More', Quarterly Journal of Economics, XLVII, February, 337-42 (1933) 174
10. 'The Literature on Railway Rate Theory', Quarterly Journal of Economics, XLVII, February, 167-230 (1933) 180
Part III The Early Theory of Price Discrimination and Regulation
11. 'Contributions to the Theory of Railway Rates--III', Economic Journal, XXII, June, 198-218 (1912) 247
12. 'Price Discrimination in Decreasing Cost Industries', American Economic Review, XXXI, December, 794-802 (1941) 268
13. 'In Defense of the Long-Haul/Short-Haul Discrimination', Bell Journal of Economics, 10 (2), Autumn, 706-8 (1979) 277
14. 'Full Price Competition and Dupuit's Defense of the Long-and-Short-Haul "Discrimination"', Journal of Regulatory Economics, 1 (4), December, 359-71 (1989) 280
Part IV The Development of Marginal Cost Pricing: The Search for Efficiency Rationales
15. 'The General Welfare in Relation to Problems of Taxation and of Railway and Utility Rates', Econometrica, 6, July, 242-69 (1938) 295
16. 'The Dupuit Taxation Theorem' and 'A Further Note On The Dupuit Taxation Theorem', Econometrica, 7, April, 145-50 and 156-7 (1939) 323
17. 'The Relation of Prices to Marginal Costs in an Optimum System' and 'A Final Note', Econometrica, 7, April, 151-5 and 158-60 (1939) 331
18. 'Some Objections to Marginal-Cost Pricing', Journal of Political Economy, LVI, June, 218-38 (1948) 339
19. 'The Marginal Cost Controversy', Economica, N.S., XIII (49-52), August, 169-82 (1946) 360
20. 'Recent Developments in the Theory of Marginal Cost Pricing', Review of Economic Studies, XVII, 107-26 (1950) 374
Part V Joint Cost and Peak Load Pricing
21. 'Composite Demand and Joint Supply in Relation to Public Utility Rates', Quarterly Journal of Economics, XLIV, November, 40-62 (1930) 397
22. 'Peak Loads and Efficient Pricing', Quarterly Journal of Economics, LXXI, November, 585-610 (1957) 420
23. 'Peak Loads and Efficient Pricing: Comment', Quarterly Journal of Economics, LXXII, August, 451-62 (1958) 446
24. 'Peak-Load Pricing', Journal of Business, XXXIII, April, 157-79 (1960) 458
25. 'Peak-Load Pricing and Optimal Capacity under Indivisibility Constraints', American Economic Review, LVI (4), September, 810-27 (1966) 481
26. 'Peak-Load Pricing', Journal of Political Economy, 76, January/February, 101-13 (1968) 499
27. 'The Theory of Peak-Load Pricing: A Survey', Journal of Regulatory Economics, 8 (3), November, 215-48 (1995) 512
Name Index 547
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