Several theories have been advanced to explain the observed pattern of government regulation of the economy. These include the "public interest" theory and several versions, proposed either by political scientists or by economists, of the "interest group" or "capture" theory. This article...

Students of the regulated industries often assume that regulation is designed either to approximate the results of competition or to protect the regulated firms from competition. But neither view explains adequately a number of important phenomena of regulation and regulated industries. Foremost...

The development of cable television has been subjected to a comprehensive and complex array of federal, state, and local regulations; and many new proposals for regulation are being discussed. This paper attempts a critique of the emerging pattern of regulation. The author analyzes the major...

This paper provides a methodology to analyze the potential benefits and costs of airline mergers. The methodology is applied to the recent merger between North Central Airlines and Southern Airways -- the superior product created by a merger which increases the amount of single-carrier versus...