As both a regulator and an academic, Fred Kahn argued that end-use electricity consumers should face prices that reflect the time-varying marginal costs of generating electricity. This has been very slow to happen in the US, even in light of recent technological advances that have lowered costs...

The history of natural gas wellhead and pipeline regulation, deregulation and regulatory reforms are discussed. These reforms brought natural gas shortages and pipeline inefficiencies to an end. They also created an economic platform that could support unanticipated developments in the supply...

Economic evaluations of alternative electric generating technologies typically rely on comparisons between their expected "levelized cost" per MWh supplied. I demonstrate that this metric is inappropriate for comparing intermittent generating technologies like wind and solar with dispatchable...

The 1990 Clean Air Act Amendments initiated the first large-scale use of the tradable permit approach to pollution control. The theoretical case for this approach rests on the assumption of an efficient market for emission rights. The authors' empirical analysis shows that the emission rights...