Show simple item record

dc.contributor.authorWills-Johnson, Nick
dc.date.accessioned2017-01-30T15:29:28Z
dc.date.available2017-01-30T15:29:28Z
dc.date.created2008-11-12T23:36:22Z
dc.date.issued2007
dc.identifier.citationWills-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.
dc.identifier.urihttp://hdl.handle.net/20.500.11937/46835
dc.description.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.

dc.publisherPATREC
dc.relation.urihttp://www.patrec.org
dc.subjectArrow
dc.subjectRegulation
dc.titleIs Economic Regulation Possible? Arrow's Impossibility Theorem and the Management of Joint Use Infrastructure
dc.typeConference Paper
dcterms.source.titleIs Economic Regulation Possible? Arrow's Impossibility Theorem and the Management of Joint Use Infrastructure
dcterms.source.seriesPATREC Research Forum
dcterms.source.conferencePATREC Research Forum, 3rd
dcterms.source.conference-start-date04 Sep 2007
dcterms.source.conferencelocationMurdoch University, Perth
dcterms.source.placePerth
curtin.identifierEPR-2440
curtin.accessStatusOpen access
curtin.facultyCurtin Business School
curtin.facultySchool of Economics and Finance


Files in this item

Thumbnail
This item appears in the following Collection(s)

Show simple item record