Understanding Regulation: Theory, Strategy, and Practice

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Regulation is a key concern of industries, consumers, citizens, and governments alike. Understanding Regulation takes the reader through the central issues of regulation and discusses these from a number of disciplinary perspectives. This book is written by a lawyer and an economist, but looks also towards business, political science, sociology, social administration, and other disciplines.. "A central argument of Understanding Regulation is that regulation inevitably gives rise to political contention, but that persons of different political persuasions can nevertheless converse sensibly on the search for better regulation.
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Editorial Reviews

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"It is an excellently constructed work, and provides much food for thought for the times in which we live."—New Law Journal

"The book is well researched and written with enough conviction to make a valuable contribution in developing our understanding of the choices regulation presents us with and the potential of new regulatory arrangements going forward."—Matthew Berry, Financial Adviser Careers Extra

"Some of the material is very useful and not easily available in textbook form elsewhere ... a good way of catching up on the reforms in a variety of policy sectors and thinking in different disciplines."—Public Administration

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Product Details

  • ISBN-13: 9780198774372
  • Publisher: Oxford University Press, USA
  • Publication date: 7/28/1999
  • Pages: 384
  • Product dimensions: 6.30 (w) x 9.30 (h) x 1.10 (d)

Meet the Author

Robert Baldwin is a Professor of Law at the LSE where he teaches Regulation and Criminal Law at undergraduate and graduate levels. He has published widely on regulation and has broad consultancy experience in regulation. His previous books include The Government of Risk (Oxford University Press, 2001 with Christopher Hood and Henry Rothstein). He is the Director of the LSE Short Course on Regulation.

Martin Cave is BP Centennial Professor at the London School of Economics and Political Science for 2010-11. He was a member of the U.K. Competition Commission from 1996-2002. He has authored numerous works on economic regulation, and has very extensive experience of advising regulatory agencies such as Ofcom, OFWAT, the Office of Fair Trading, international institutions such as the European Commission and the OECD, and governments in several countries.

Martin Lodge is Reader in Political Science and Public Policy at the LSE. His research and teaching interests are in the comparative study of Executive Government and Regulation.

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Table of Contents

List of Figures
List of Tables
1 Introduction 1
2 Why Regulate? 9
3 Explaining Regulation 18
4 Regulatory Strategies 34
5 Who Regulates? Institutions and Structures 63
6 What is 'Good' Regulation? 76
7 The Cost-Benefit Testing of Regulation 86
8 Enforcing Regulation 96
9 Setting Standards 118
10 Self-Regulation 125
11 Regulating Risks 138
12 Regulation in the European Context 150
13 Regulatory Competition and Coordination 180
14 British Utilities Regulation: The Basic Structure 190
15 Price Setting in Natural Monopolies 203
16 Regulation versus Competition 210
17 Price-Capping Mechanisms 224
18 Measuring Efficiency: Benchmarking, Yardsticking, and Performance 239
19 Regulating Quality 248
20 Franchising and its Limitations 257
21 Accountability 286
22 Procedures and Fairness 314
23 Conclusions 334
Select Bibliography 337
Index 359
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