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Consistent Regulation of Infrastructure Businesses: Some Economic Issues *
Author(s) -
Menezes Flavio M.
Publication year - 2009
Publication title -
economic papers: a journal of applied economics and policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.245
H-Index - 19
eISSN - 1759-3441
pISSN - 0812-0439
DOI - 10.1111/j.1759-3441.2009.00002.x
Subject(s) - consistency (knowledge bases) , point (geometry) , time consistency , measure (data warehouse) , business , public economics , economics , risk analysis (engineering) , computer science , actuarial science , mathematics , data mining , geometry , artificial intelligence
This article examines some important economic issues associated with the notion that consistency in the regulation of infrastructure businesses is a desirable feature. It makes two important points. First, it is not easy to measure consistency. In particular, one cannot simply point to different regulatory parameters as evidence of inconsistent regulatory policy. Second, even if one does observe consistency emerging from decisions made by different regulators, it does not necessarily mean that this consistency is desirable. It might be the result, at least partially, of career concerns of regulators.