The Anatomy of Institutional and Organizational Failure
Topics in Regulatory Economics and Policy(2005)
摘要
We have attempted to show that regulatory failures are products of institution designs where rigidities in the ability of the institutions to adapt to shocks lead to profound disappointment in the public’s expectations. The politically sensitive character of these essential services makes them ripe for instant reform. Kahn (1988, p.xxxvii) has pointed out we really don’t have a choice between perfect markets and perfect regulation as he admonished the “…central institutional issue of public utility regulation” remains the one that I identified at that time- finding the best possible mix of inevitably imperfect regulation and inevitably imperfect competition.”
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