Summary of The Economics of Regulation: Principles and Institutions: Economic principles

The Economics of Regulation: Principles and Institutions is a comprehensive introduction to the economic principles and institutions governing regulation and public policy. The authors provide an overview of economic principles, in a manner accessible to students with no prior economic background, as they apply to public policy. The chapters focus on the microeconomics of regulation, such as the public choice model, cost-benefit analysis, and special interest politics. Additionally, the authors introduce the complexity of macroeconomic issues, such as the impact of industry price stability, regulation in coordinating agent markets, and emerging technological trends. The authors explore topics including managerial market power, regulatory capture, competition policy, deregulation, environmental regulation, and more. As a text book, the Economics of Regulation: Principles and Institutions is intended to provide students with an understanding of the foundational principles and institutions of the economics of regulation, as well as its impact on public policy decisions.