Ekaterina Korol'kova

Natural Monopoly: Regulation Versus Competition

2000. Vol. 4. No. 4. P. 528–551 [issue contents]

In previous lectures, we considered: the evolution of approaches to the concept of natural monopoly; issues of regulation of natural monopolies (the history of regulation, the main theories of regulation, goals and forms of regulation, evaluation criteria); the main reasons and directions of the current regulatory reform; and regulatory mechanisms (regulation of the rate of return on capital, incentive regulation (price limits, yardstick competition, price discrimination, Ramsay prices, Vogelsang - Finsinger mechanism, multi-component tariffs)). In lectures 3 and 4, using the example of two major industries - electricity and gas-we will analyze how regulatory reform is unfolding in different countries, how the traditional appearance of these sectors is changing, what models and mechanisms are the basis for the ongoing transformation, and what problems complicate the reform (lecture 4 will be published in No. 1 for 2001). Throughout the world, the electricity and gas industries are undergoing a rapid deregulatory transformation.The traditional image of industries, characterized by a monopolistic structure, extensive regulation and a high share of state ownership, is changing in the direction of a more complex and multi-faceted, and new concepts of these sectors are being formed in the process of deregulation.

Citation: Korol'kova E. (2000) Lektsii. Estestvennaya monopoliya: regulirovanie i konkurentsiya [Natural Monopoly: Regulation Versus Competition]. HSE Economic Journal , vol. 4, no 4, pp. 528-551 (in Russian)
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