Basic Network Utility Economics: The Innate Economics of the Electricity, Gas, Water, Rail and Other Physical Network Industries

The economics of the heavy natural monopolies electricity, gas, water and rail is not as straightforward as most microeconomics texts assume. This book, by a professional, explains the techniques that are actually used by practitioners to analyse and advise policymakers, in simple language suitable for anyone with an understanding of basic economics. It starts by explaining the absolute basics of each industry and examining their fundamental characteristics. In the course of this easy and informative exposition the limitations of neoclassical models are exposed, and more general tools are gently explained, using a hundred color diagrams and a minimum of algebra.