Optimal Regulation: The Economic Theory of Natural Monopoly

Kenneth Train
Cambridge: The MIT Press, 1991

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Front Material [ front.pdf, 0.35MB] or [ front.ps.Z, 0.77MB]

  • Title Page and Copyright Information
  • Table of Contents
  • Preface

Introduction: The Economic Rationale and Task of Regulation, [ intro.pdf, 0.84MB] or [ intro.ps.Z, 1.78MB]


  1. The Averch-Johnson Model of Rate-of-Return Regulation, [ ch1.pdf, 2.13MB] or [ ch1.ps.Z, 4.65MB]
  2. Regulatory Mechanisms to Induce Optimal Outcomes for One-Product Natural Monopolies, [ ch2.pdf, 1.16MB] or [ ch2.ps.Z, 2.43MB]
  3. The A-J Model under Uncertainty, [ ch3.pdf, 0.9MB] or [ ch3.ps.Z, 1.98MB]
  4. Ramsey Prices, [ ch4.pdf, 1.5MB] or [ ch4.ps.Z, 3.25MB]
  5. The Vogelsang-Finsinger Mechanism, [ ch5.pdf, 1.42MB] or [ ch5.ps.Z, 3.1MB]
  6. Surplus Subsidy Schemes, [ ch6.pdf, 0.73MB] or [ ch6.ps.Z, 1.53MB]
  7. Multipart Tariffs, [ ch7.pdf, 2.32MB] or [ ch7.ps.Z, 4.91MB]
  8. Time-of-Use Prices and Riordan's Mechanism, [ ch8.pdf, 1.15MB] or [ ch8.ps.Z, 2.47MB]
  9. Self-Selecting Tariffs and Sibley's Mechanism, [ ch9.pdf, 0.84MB] or [ ch9.ps.Z, 1.78MB]
  10. Optimality without Regulation, [ ch10.pdf, 1.06B] or [ ch10.ps.Z, 2.23MB]

Appendix. Price Caps [ app.pdf, 0.63B] or [ app.ps.Z, 1.36MB]

References and Index [ ref_ind.pdf, 0.39B] or [ ref_ind.ps.Z, 0.86MB]