Curtin University Homepage
  • Library
  • Help
    • Admin

    espace - Curtin’s institutional repository

    JavaScript is disabled for your browser. Some features of this site may not work without it.
    View Item 
    • espace Home
    • espace
    • Curtin Research Publications
    • View Item
    • espace Home
    • espace
    • Curtin Research Publications
    • View Item

    Is Economic Regulation Possible? Arrow's Impossibility Theorem and the Management of Joint Use Infrastructure

    20725_downloaded_stream_181.pdf (108.7Kb)
    Access Status
    Open access
    Authors
    Wills-Johnson, Nick
    Date
    2007
    Type
    Conference Paper
    
    Metadata
    Show full item record
    Citation
    Wills-Johnson, Nick. 2007. : Is Economic Regulation Possible? Arrow's Impossibility Theorem and the Management of Joint Use Infrastructure, in Affleck, Fred (ed), PATREC Research Forum, 3rd, 04 Sep 2007. Murdoch University, Perth: PATREC.
    Source Title
    Is Economic Regulation Possible? Arrow's Impossibility Theorem and the Management of Joint Use Infrastructure
    Source Conference
    PATREC Research Forum, 3rd
    Additional URLs
    http://www.patrec.org
    Faculty
    Curtin Business School
    School of Economics and Finance
    URI
    http://hdl.handle.net/20.500.11937/46835
    Collection
    • Curtin Research Publications
    Abstract

    Economic regulation is portrayed as the objective application of clear economic theory to data in order to develop outcomes which overcome the problems associated with natural monopoly in a non-political, unbiased fashion. However, is the appearance of objectivity only skin-deep? This paper argues that it is; that economic regulation is a form of social choice and that the need for subjective assumptions underpinning regulatory forecasts renders this social choice subject to Arrow?s (1950) Impossibility Theorem. The same is true of any public-sector resource allocation process. The paper examines the consequences of this result for economic regulation using railways as a case study, and charts some potential policy options in response.

    Related items

    Showing items related by title, author, creator and subject.

    • Effects of economic deterrence theory and environmental regulation on tax evasion: evidence from energy sector
      Ya'u, Abba; Miraz, Mahadi Hasan; Saad, Natrah; Bala, Hussaini; Rengasamy, Dhanuskodi ; Olaniyi, Oladokun Nafi’u; Mustapha, Umar Aliyu (2023)
      Environmental regulation is the responsibility of individuals, corporations, and other entities to prevent environmental damage or improve the tarnished environment. The Environmental law of every country works to protect ...
    • Rural restructuring, policy change and uneven development in the central wheatbelt of Western Australia
      Tonts, Matthew A. (1998)
      This thesis examines economic restructuring and changing governmental regulation in the Central Wheatbelt of Western Australia. It argues that, for much of this century, Australian governments were committed to the ...
    • Behaviour and performance of key market players in the US futures markets
      Gurrib, Muhammad Ikhlaas (2008)
      This study gives an insight into the behaviour and performance of large speculators and large hedgers in 29 US futures markets. Using a trading determinant model and priced risk factors such as net positions and sentiment ...
    Advanced search

    Browse

    Communities & CollectionsIssue DateAuthorTitleSubjectDocument TypeThis CollectionIssue DateAuthorTitleSubjectDocument Type

    My Account

    Admin

    Statistics

    Most Popular ItemsStatistics by CountryMost Popular Authors

    Follow Curtin

    • 
    • 
    • 
    • 
    • 

    CRICOS Provider Code: 00301JABN: 99 143 842 569TEQSA: PRV12158

    Copyright | Disclaimer | Privacy statement | Accessibility

    Curtin would like to pay respect to the Aboriginal and Torres Strait Islander members of our community by acknowledging the traditional owners of the land on which the Perth campus is located, the Whadjuk people of the Nyungar Nation; and on our Kalgoorlie campus, the Wongutha people of the North-Eastern Goldfields.