In this paper prepared for the Miller Upton Forum on the Wealth and Well-Being of Nations, Kiesling asks why in this digital age the basic technology supporting the production and distribution of electric power has changed so little since the industry’s birth in the early twentieth century....

This paper proposes a regulatory mechanism for vertically related industries in which the upstream “bottleneck” segment faces significant returns to scale while other (downstream) segments may be more competitive. In the proposed mechanism, the ownership of the upstream firm is allocated to...

chapter 1 Introduction -- chapter 2 A brief history and theory of electric utility regulation in the United States -- chapter 3 A decentralized coordination framework for analyzing regulatory institutions -- chapter 4 Rethinking retail regulation: Enabling active demand and retail choice --...