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Paperback | $34.00 Short | £23.95 | ISBN: 9780262600187 | 224 pp. | September 1988

Markets for Power

An Analysis of Electric Utility Deregulation


Markets for Power provides an unusually complete analysis of the economic, technical, and institutional aspects of the electric utility industry. The authors evaluate four currently popular options for deregulating this unique segment of the economy, and in a balanced program for reform, they advise against total deregulation and recommend a cautious approach to even partial deregulation.

Paul L. Joskow is Professor of Economics and Richard Schmalensee is Professor of Applied Economics, both at MIT

About the Authors

Paul L. Joskow is Professor of Economics at MIT.

Richard L. Schmalensee is John C. Head III Dean and Professor of Management and Economics at the MIT Sloan School of Management. He is co-editor of Management: Inventing and Delivering Its Future (MIT Press, 2003).


"This is by far the best treatment of regulatory policy in the electric utility industry. The book succeeds in its analysis of deregulation proposals by sticking closely to economic principles, and avoiding the tiresome polemics associated with debates over competition versus government. control .... Particularly interesting and novel is [the authors'] discussion of the potential for competition in power generation. The book is also noteworthy for its style dispassionate and closely reasoned, yet easily accessible, to the generalist."
- Robert Weiner, Journal of Policy Analysis and Management