We are all victims of what George Stigler described as “the pervasive use of state support of special groups” and of governance failures everywhere....
George Stigler’s theory of economic regulation opened our eyes to the rent-seeking that undermines the public interest. Yet many in positions to influence policy...
George Stigler’s “The Theory of Economic Regulation” was an early application of public choice reasoning to a practical problem—the work of regulatory agencies. It...
George Stigler’s “The Theory of Economic Regulation” has left a lasting impact on the academic and real-world practice of regulatory policy. Fifty years after...
Relying on marginal market prices to provide the incentives for the production and delivery of electricity means that all of the biophysical things enrolled...
Even in an ideal electricity market, reliability is an elusive and precarious byproduct of companies’ search for profits. Since market designers are rarely in...