A Pedagogical Note on the Economic Theory of Regulation

8 Pages Posted: 3 Oct 2005

See all articles by Thomas Randolph Beard

Thomas Randolph Beard

Auburn University - Department of Economics

David L. Kaserman

Auburn University, College of Business, Department of Economics (Deceased)

John W. Mayo

Georgetown University - Department of Strategy/Economics/Ethics/Public Policy

Date Written: March 2005

Abstract

While scores of papers have drawn on the basic insights of the early founders of the economic theory of regulation, the ability to cogently present the general form of the theory in a readily accessible graphical format has only recently emerged. While providing a promising approach for illustrating and analyzing regulatory (and deregulatory) outcomes, however, the analysis presented to this point appears to require the derivation of several different graphs. The result is that, while stemming from a single paradigmatic framework, the graphical approach fails thus far to offer a single unified basis for illustrating the general economic theory of regulation. In this paper, we seek to fill this lacuna by providing a simple, yet powerful, unifying graphical construct for presenting the myriad implications of that theory.

JEL Classification: D72, L51

Suggested Citation

Beard, Thomas Randolph and Kaserman, David L. and Mayo, John W., A Pedagogical Note on the Economic Theory of Regulation (March 2005). Available at SSRN: https://ssrn.com/abstract=811884 or http://dx.doi.org/10.2139/ssrn.811884

Thomas Randolph Beard

Auburn University - Department of Economics ( email )

415 W. Magnolia
Auburn, AL 36849-5242
United States

David L. Kaserman (Contact Author)

Auburn University, College of Business, Department of Economics (Deceased)

N/A

John W. Mayo

Georgetown University - Department of Strategy/Economics/Ethics/Public Policy ( email )

3700 O Street, NW
Washington, DC 20057
United States
(202) 687-6972 (Phone)
(202) 687-7310 (Fax)

Register to save articles to
your library

Register

Paper statistics

Downloads
311
Abstract Views
2,221
rank
96,348
PlumX Metrics