between a median consumer and a monopolist. When quality is non-excludable and non-rival, rate-of-return regulation yields … higher economic efficiency than price cap regulation …

of an MQS regulation in such an environment? We develop a price competition model of vertical differentiation that …

whether regulation has evolved in tandem with these developments, three critical questions are examined: Is regulation … regulatory format? An exploration of these questions produces relatively little evidence that regulation has moved in the …