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Privatization of natural monopoly public enterprises: The regulation issue (1995)

Bradburd, Ralph

Springer

Review of industrial organization 10 (1995), S. 247-267

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ISSN: 1573-7160

Keywords: Allocative efficiency ; monopoly ; privatization ; public enterprise ; regulation

Source: Springer Online Journal Archives 1860-2000

Topics: Economics

Notes: Abstract The paper presents a simple model that calculates — as a percentage of industry revenues — the welfare gains or losses that might ensue when a public enterprise natural monopoly is replaced by a profit maximizing private monopoly. The model incorporates both the pre-privatization demand elasticity and production efficiency changes subsequent to privatization. The magnitude of the welfare changes suggests that allocative efficiency improvements do not provide a compelling rationale for post-privatization regulation. Greater consideration must be given to other regulatory objectives including distributional concerns and the need to create an institutional environment that encourages investment.

Type of Medium: Electronic Resource

URL: http://dx.doi.org/10.1007/BF01027074

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