Economic theory states that “free market” competition naturally achieves lower prices—thereby increasing efficiency and benefiting society. This is the first paper in the literature to use means testing to statistically analyze electricity prices, from 1970-2011, for states that...

This chapter provides a comprehensive overview of the theoretical and empirical literature on the regulation of natural monopolies. It covers alternative definitions of natural monopoly, public interest regulatory goals, alternative regulatory institutions, price regulation with full...