Abstract
The effects of changes in regulatory processes and the choice of policy instruments can be predicted if there is an understanding of what happens while changes are taking place. Pressures for regulatory changes on existing institutions arise from the changing economic and political situation, while the choice of instruments and techniques employed is usually left up to the regulatory agency to define. A structural model of existing regulatory interactions is proposed which can predict the effects of changes in the regulatory environment better than the ''Averch-Johnson'' model that is usually used to analyze the effects of ''rate of return'' regulation of public utilities. Eight propositions are introduced to be included in the structural model to accomodate the rapid inflation and environmental concerns which have affected rate structures of public utilities and, ultimately, the quality of service, prices, and efficiency. (DCK)
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
