Arthur S De Vany

The Emerging New Order in Natural Gas: Markets versus Regulation Arthur S De Vany

Commendation Quotes: "An illuminating work showing how the public can benefit by ingenious use of the market mechanism to replace government regulation. At a time when regulatory arrangements in natural gas, electricity, and telecommunications are in upheaval the study contributes understanding of the issues as well as promising guides for policy." - William J. Baumol, director C. V. Starr Center for Applied Economics New York UniversityReview Quotes: "This book...focuses on changes in the natural gas industry from 1987 through 1991, the relaxing of regulatory rules, and the formation of a network industry, which, when allowed to, can act in a competitive manner.... The authors test the extent to which markets have evolved under open access by focusing on field, city gate, hub, and futures markets. Based on their findings, a numer of conclusions and policy implications are offered....an innovative approach for analyzing transmission industries."-Journal of Economic LiteratureReview Quotes: ?This book...focuses on changes in the natural gas industry from 1987 through 1991, the relaxing of regulatory rules, and the formation of a network industry, which, when allowed to, can act in a competitive manner.... The authors test the extent to which markets have evolved under open access by focusing on field, city gate, hub, and futures markets. Based on their findings, a numer of conclusions and policy implications are offered....an innovative approach for analyzing transmission industries.?-Journal of Economic LiteratureReview Quotes: "The public policy implications of this book are profound. What has happened with natural gas can now happen with electricity--an industry three times as large. This rigorous case study...proves once again--consumers are resourceful, entrepreneurs are alert, and markets work."-Robert L. Bradley, Jr., president Institute for Energy ResearchReview Quotes: "An illuminating work showing how the public can benefit by ingenious use of the market mechanism to replace government regulation. At a time when regulatory arrangements in natural gas, electricity, and telecommunications are in upheaval the study contributes understanding of the issues as well as promising guides for policy."-William J. Baumol, director C. V. Starr Center for Applied Economics New York UniversityPublisher Marketing: Since 1984, relaxed federal guidelines have allowed the natural gas industry in the United States to become more open and flexible. The introduction of open access pipelines have removed many of the barriers to competition and markets. This book describes the implications of this policy.

Contributor Bio:  Walls, W David W. DAVID WALLS is Assistant Professor of Economics at the School of Economics and Finance at the University of Hong Kong.