Regulation, Competition, and Liberalization

Mark Armstrong · David E. M. Sappington

391 citations0/0 files storedJournal of Economic Literature

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Merger and Competition Analysis Regulation and Compliance Studies Transport and Economic Policies

Abstract

In many countries throughout the world, regulators are struggling to determine whether and how to introduce competition into regulated industries. This essay examines the complexities involved in the liberalization process. While stressing the importance of case-specific analyses, this essay distinguishes liberalization policies that generally are procompetitive from corresponding anticompetitive liberalization policies.

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References

1997Capitalism, Socialism and Democracy 1976Markets and Hierarchies: Analysis and Antitrust Implications.2019American Economic Review 1962Economic Welfare and the Allocation of Resources for Invention 1971The Theory of Economic Regulation 1991Multitask Principal–Agent Analyses: Incentive Contracts, Asset Ownership, and Job Design 2021The Theory of Economic Regulation 1983A Theory of Competition Among Pressure Groups for Political Influence

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2009Toward a Theory of Regulation for Developing Countries: Following Jean-Jacques Laffont's Lead 2020Grow the Pie 2009Incentive regulation and investment: evidence from European energy utilities 2007Chapter 16 Regulation of Natural Monopoly 2014Joint impact of competition, ownership form and economic regulation on airport performance and pricing 2008Auction procedures and competition in public services: The case of urban public transport in France and London

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