Britain's largest railroad company have raised troubling questions about privatization. This book addresses one of the most …

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 information, price regulation with imperfect and asymmetric information, and topics on the …

This paper studies the effect of soft-budget constraints in a pure adverse selection model of monopoly regulation. We … regulatory set-up in which firms are free to enter natural monopoly markets and to choose their price and output levels as in the …-up allows governments to avoid re-funding moneyloosing firms and that welfare is larger than under traditional regulation where …