The Line in the Sand: The Shifting Boundary Between Markets and Regulation in Network Industries

Beginning with the 1978 deregulation of the US airline industry, network industries worldwide have been exposed to the transforming winds of market forces. The shifts from government regulation toward market discipline and sometimes back again have driven the transformation of those industries in the years since.But where should the boundary between regulation and putatively competitive markets ultimately settle? These economists of NERA Economic Consulting have been examining that question for three decades, advising and testifying for companies, governments, and regulators on six continents. Edited by Sarah Voll and Michael King, this book is the result of conversations and debates among colleagues around the world. It is designed to identify and consider the issues, methodologies, and techniques that will be critical in the playing field of the key network industries energy, transport, and water in the 21st century.