Regulating and Deregulating the Public Utilities 1830-2010

History can provide invaluable insights into important issues of the economic and social regulation of utilities, and offer lessons towards future debates. But the history of utility regulation – which speaks of changing, diverse and complex experiences around the world – was, unfortunately, sidelined or marginalised when economists and policymakers enthusiastically embraced the question of how to reform the utilities from the 1970s. This paper provides an overview of the three, overarching, `waves' of utility regulation from the nineteenth century to the present, documenting how, when and why the ways in which the roles of the state, the market and firms altered over time. It then contextualises and explains the main contributions of each of the papers included in this special issue of Business History, which cover energy, communications, water, transportation and other urban infrastructure regulation, across Western Europe, the United States and Australia

The dynamics of entry, exit and profitability: an error correction approach for the retail industry

We develop a two equation error correction model to investigate determinants of and dynamic interaction between changes in profits and number of firms in retailing. An explicit distinction is made between the effects of actual competition among incumbants, new firms competition and potential competition from firms outside the market. Effects of cost, demand and general income changes on profitability are investigated to gain insight in the role of retailing in the cost, demand and wage inflationary processes. The relative importance of profitability, growth and unemployment as determinants of net entry are studied. The model is tested using a panel data set of 36 Dutch shoptypes covering the 1977–1988 period

Sunk Costs, Depreciation, and Industry Dynamics

Two of the most robust results from dynamic competitive models of industrial organization suggest that higher sunk cost industries should exhibit (1) higher intertemporal variability in the market value of their firms, and (2) lower intertemporal variability in the size of their industries. These predictions have done well empirically. This paper argues on theoretical and empirical grounds that depreciation generates countervailing effects

Nuclear power for sustainable development: Current status and future prospects

Interest in nuclear power has been revived as a result of volatile fossil fuel prices, concerns about the security of energy supplies, and global climate change. This paper describes the current status and future plans for expansion of nuclear power, the advances in nuclear reactor technology, and their impacts on the associated risks and performance of nuclear power. Advanced nuclear reactors have been designed to be simpler and safer, and to have lower costs than currently operating reactors. By addressing many of the public health and safety risks that plagued the industry since the accidents at Three Mile Island and Chernobyl, these reactors may help break the current deadlock over nuclear power. In that case, nuclear power could make a significant contribution towards reducing greenhouse gas emissions. However, significant issues persist, fueling reservations among the public and many decision makers. Nuclear safety, disposal of radioactive wastes, and proliferation of nuclear explosives need to be addressed in an effective and credible way if the necessary public support is to be obtained.Nuclear power New reactor technologies Nuclear accidents

Towards defining and measuring the affordablity of public utility services

World Bank, Policy Research Working PaperSeries - 491