The public interest theory of regulation: non-existence or misinterpretation?

Michael Hantke-Domas

    Research output: Contribution to journalArticle

    41 Citations (Scopus)

    Abstract

    The Public Interest Theory of regulation explains, in general terms, that regulation seeks the protection and benefit of the public at large. This paper argues that possibly the Public Interest Theory does not exist as such for reasons that will be discussed later. In addition, the paper contends that the Stigler's and Posner's characterisation of the Public Interest Theory has similarities with the welfare economics rationale for regulation. Nevertheless, the similarities do not prove or deny a connection between both the concepts of public interest and the welfare economics rationale for regulation.
    Original languageEnglish
    Pages (from-to)165-194
    Number of pages30
    JournalEuropean Journal of Law and Economics
    Volume15
    Issue number2
    DOIs
    Publication statusPublished - Mar 2003

    Fingerprint

    interest theory
    public interest
    regulation
    welfare economics
    General Terms
    Public interest

    Keywords

    • Theories of regulation
    • Microeconomics
    • Welfare economics

    Cite this

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    abstract = "The Public Interest Theory of regulation explains, in general terms, that regulation seeks the protection and benefit of the public at large. This paper argues that possibly the Public Interest Theory does not exist as such for reasons that will be discussed later. In addition, the paper contends that the Stigler's and Posner's characterisation of the Public Interest Theory has similarities with the welfare economics rationale for regulation. Nevertheless, the similarities do not prove or deny a connection between both the concepts of public interest and the welfare economics rationale for regulation.",
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    The public interest theory of regulation: non-existence or misinterpretation? / Hantke-Domas, Michael.

    In: European Journal of Law and Economics, Vol. 15, No. 2, 03.2003, p. 165-194.

    Research output: Contribution to journalArticle

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