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This comprehensive book contains case studies on the evolution of
competition policy, with an emphasis on merger policy, for seven
major US industries that have experienced substantial deregulation
in the past forty years - electricity, natural gas,
telecommunications, railroads, airlines, hospitals and banking.
Also included is a comparison of the EU's experience in attempting
to bring about competition in the energy, finance, and airline
industries. The contributors to the volume, each a recognized
expert on the industry examined, explore the positive and negative
implications of the substitution of market-oriented processes for
historic patterns of command and control regulation. The chapters
reveal clear similarities in the economic, legal and public policy
issues that have arisen following deregulation of these economic
sectors. Together they provide a good basis to discern the
consistency of the problems and the relative success of differing
responses to these issues over a range of industries going through
similar transformation. While taking a basically positive view of
the movement away from direct regulation, the contributors identify
a number of continuing problems with achieving workable competition
in these industries. The thorough analyses presented here will be
of great value to law, economics, and political science researchers
interested in deregulation, economic consultants advising
government agencies or private parties, attorneys who focus on
deregulated industries, policy planners at the agencies overseeing
these industries, and students in advanced seminars on economic
regulation.
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