Generating electricity from renewable sources is more expensive than conventional approaches but reduces pollution externalities. Analyzing the tradeoff is much more challenging than often presumed because the value of electricity is extremely dependent on the time and location at which it is...

In June 2000, after two years of fairly smooth operation, California's deregulated wholesale electricity market began producing extremely high prices and threats of supply shortages. The upheaval demonstrated dramatically why most current electricity markets are extremely volatile: demand is...

The next section reviews the evolution of the domestic airline industry since the late 1970s, when it was abruptly freed from most regulatory constraints on pricing, entry, and exit. (International air travel is considered here only as it relates to competition in the domestic industry.) The...