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This paper argues that the study of policy incidence in industrial organization needs to take the endogeneity of government into account. The point is made by investigating whether political conside...
This paper is based on a keynote address given at the 2004 International Industrial Organization Conference in Chicago, April 2004. I draw selectively on the literature from the past 25 years on reg...
This study tests whether recent reforms of the electric power industry reverse the predicted effects of regulation on profits, risk, and return for electric utilities. The analysis also considers pote...
Telstra and the Telecom Corporation of New Zealand (TCNZ) are examined against the backdrop of deregulation, corporatisation and privatisation of telcommunications companies (TelCos) world-wide. This ...
Introduction Recent, highly publicized bank failures have inspired some observers to advocate reversal of the financial deregulation begun in 1980; they argue that the excessive risk assumed by unr...
Rent seeking has been part of government regulation since at least 1887, when the railroads succeeded in gaining partial government enforcement of their cartels (Hilton 1966; Kolko 1965). Recent the...
In this article, I examine the burgeoning literature on the behavior of unregulated banking systems. The analysis of banking and money has been dubbed the “legal restrictions theory.” Many ofthe the...
Over the past decade, the federal government of the United States has eliminated or substantially reduced the regulation of price and entry in domestic aviation, trucking, railroads, interstate buse...
Free trade has long been accepted amongst economists as the desideratum for global prosperity. But if free trade in goods is to be secured it needs to be accompanied by unhindered cross-border move...
Restrictions on freedom of entiy almost always reduce the quantity and quality of financial services available to the economy, and thus hinder or distort economic growth. Competition in banking, on ...
George Selgin and Biagio Bossone have taken much time and effort to analyze my proposal for banking deregulation (Thomas 2000). Selgin challenges many points in my proposal, but he shares my underly...
A regular reader ofthe Cato Journal, or anyone armed with a working knowledge ofthe English language for that matter, might be excused for assuming that Hugh Thomas’s article—“A Proposal to Deregul...
At the University of Arizona, electronic trading (now commonly known as e-commerce) in the experimental laboratory began in 1976 when Arlington Williams conducted the initial experiments testing th...
Rights-based institutions have been adopted for certain natural resources in order to more effectively mitigate the losses of the common pool. Past central government (command and control) regulatio...

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