This paper estimates the productivity and consumer and producer changes in the New Zealand telecommunications network market between 1987, when it was deregulated, and 1993 as the major firm, Telecom, evolved from a government department to a public company in an environment of light regulation....

Positive models of public-utility regulation should capture personal incentives of regulators. A regulatory objective function is specified by appeal to standard human concerns coupled with politics and processes peculiar to public-utility regulation. Constraints a rational regulator would...