Economics Dictionary of ArgumentsHome
| |||
|
| |||
| Deregulation: Deregulation in economics refers to the reduction or elimination of government rules and restrictions in an industry to encourage competition, increase efficiency, and promote innovation. It often involves privatization and liberalization of markets but can also lead to reduced oversight and potential market failures if not properly managed. See also Regulatory marktes, Trade, Market failure, Interventions, Interventionism._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
| Author | Concept | Summary/Quotes | Sources |
|---|---|---|---|
|
Economic Theories on Deregulation - Dictionary of Arguments
Krugman III 86 Deregulation/economic theories/Norman/Strandenes: Prior to the 1978 deregulation of air services in the United States, (…), Douglas and Miller (1974)(1) did a careful study of the effects of regulation, using an approach with points of similarity to our study. Douglas and Miller 1974: They modeled city-pair markets as Cournot oligopolies* and studied the effects of nonprice competition (competition in capacity offered) given publicly regulated airfares. They found, not surprisingly, that nonprice competition eliminates pure rents (through overcapacity). In an extension, they also looked at the trade-off between frequency and price, using queuing theory. >Cournot Competition, >Bertrand Competition. Other relevant studies are Jordan (1970)(2) and DeVaney (1975)(3). DeVaney looked at the effects of entry given alternative assumptions regarding scheduling decisions. Jordan looked at airline regulation as an endogenous regulatory regime. Finally, the present study(4) builds on the experience of deregulation in the United States. For a summary of the U.S. experience and a discussion of the issues involved in European deregulation, see McGowan and Seabright (1989)(5) and Strandenes (1987)(6). Krugman III 97 Regulation/deregulation: The effects of competition will be very similar whether the initial equilibrium is interpreted as one of regulated or unregulated monopoly. >Competition/Victor D. Norman. *((s) In the economics of oligopoly, the Cournot and Bertrand models explore different ways firms can compete. Cournot models focus on quantity competition, where firms choose output levels, while Bertrand models focus on price competition, where firms set prices. In Bertrand competition, firms making identical products often reach an equilibrium where prices are equal to marginal costs, leading to zero economic profits. In contrast, Cournot competition typically leads to higher prices and positive profits for firms, as they limit their output to maximize profits.) 1. Douglas, G. W., and J. C. Miller, Jr. 1974. Economic regulation ofdomesric air transport: Theory and policy. Washington, D.C.: Brookings Institution. 2, Jordan, W. A. 1970. Airline regulation in America: Effects and imper$ections. Baltimore: John Hopkins University Press. 3. DeVaney, A. S. 1975. The effect of price and entry regulation on airline output, capacity and efficiency. Bell Journal of Economics 6( 1):327-45. 4. Victor D. Norman and Siri P. Strandenes. „Deregulation of Scandinavian Airlines: A Case Study of the Oslo-Stockholm Route.“ In: Paul Krugman and Alasdair Smith (Eds.) 1994. Empirical Studies of Strategic Trade Policy. Chicago: The University of Chicago Press. 5. McGowan, E, and P. Seabright. 1989. Deregulating European airlines. Economic Policy no. 9 (October): 283-344. 6. Strandenes, Siri Pettersen. 1987. Scandinavian airline industry. Market structure and competition. Report no. 21/87. Bergen: Centre for Applied Research. Victor D. Norman and Siri P. Strandenes. „Deregulation of Scandinavian Airlines: A Case Study of the Oslo-Stockholm Route.“ In: Paul Krugman and Alasdair Smith (Eds.) 1994. Empirical Studies of Strategic Trade Policy. Chicago: The University of Chicago Press._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
Economic Theories EconKrug I Paul Krugman Volkswirtschaftslehre Stuttgart 2017 EconKrug II Paul Krugman Robin Wells Microeconomics New York 2014 Krugman III Paul Krugman Alasdair Smith Empirical Studies of Strategic Trade Policy Chicago: The University of Chicago Press 1994 |
||
Authors A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Concepts A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
