Franchise Bidding for Natural Monopolies-in General and with Respect to CATV

Abstract

The orthodox attitude among economists toward regulation is one of "disdain and contempt." The general reputation is undeserved, but it fails to discriminate among different economic activities and different types of regulation. An effort to distinguish between those circumstances in which regulation, in some form, is immanent from those in which market modes can be made to work relatively well is needed.