'This book is a fine source of materials on price-caps and incentive regulation. It is highly topical and should appeal to anyone, especially economists, interested in the telecommunications industry. In addittion, it would make an excellent supplement text to any graduate-level course on regiulation.' Int. J. General Systems 20 1992

• 1 Introduction.- 2 A Non-Bayesian Incentive Mechanism Using Two-Part Tariffs.- 3 Regulating by Capping Prices.- 4 Information, Incentives, and Commitment in Regulatory Mechanisms: Regulatory Innovation in Telecommunications.- 5 Productivity and Price Caps in Telecommunications.- 6 Constant and Variable Productivity Adjustments for Price-Cap Regulation.- 7 A Sequential Mechanism for Direct Price Regulation.- 8 Incentives for Cost Reduction Under Price-Cap Regulation.- 9 The Quality of Regulation in Regulating Quality: A Proposal for an Integrated Incentive Approach to Telephone Service Performance.- 10 Optional Tariffs for Access Under the FCC’s Price-Cap Proposal.- 11 Optional Calling Plans and Bypass Efficiency.- 12 Pricing and Investment Incentives Under Price Ceiling Regulation.

'This book is a fine source of materials on price-caps and incentive regulation. It is highly topical and should appeal to anyone, especially economists, interested in the telecommunications industry. In addittion, it would make an excellent supplement text to any graduate-level course on regiulation.' Int. J. General Systems 20 1992

• 1 Introduction.- 2 A Non-Bayesian Incentive Mechanism Using Two-Part Tariffs.- 3 Regulating by Capping Prices.- 4 Information, Incentives, and Commitment in Regulatory Mechanisms: Regulatory Innovation in Telecommunications.- 5 Productivity and Price Caps in Telecommunications.- 6 Constant and Variable Productivity Adjustments for Price-Cap Regulation.- 7 A Sequential Mechanism for Direct Price Regulation.- 8 Incentives for Cost Reduction Under Price-Cap Regulation.- 9 The Quality of Regulation in Regulating Quality: A Proposal for an Integrated Incentive Approach to Telephone Service Performance.- 10 Optional Tariffs for Access Under the FCC’s Price-Cap Proposal.- 11 Optional Calling Plans and Bypass Efficiency.- 12 Pricing and Investment Incentives Under Price Ceiling Regulation.

'This book is a fine source of materials on price-caps and incentive regulation. It is highly topical and should appeal to anyone, especially economists, interested in the telecommunications industry. In addittion, it would make an excellent supplement text to any graduate-level course on regiulation.' Int. J. General Systems 20 1992

• 1 Introduction.- 2 A Non-Bayesian Incentive Mechanism Using Two-Part Tariffs.- 3 Regulating by Capping Prices.- 4 Information, Incentives, and Commitment in Regulatory Mechanisms: Regulatory Innovation in Telecommunications.- 5 Productivity and Price Caps in Telecommunications.- 6 Constant and Variable Productivity Adjustments for Price-Cap Regulation.- 7 A Sequential Mechanism for Direct Price Regulation.- 8 Incentives for Cost Reduction Under Price-Cap Regulation.- 9 The Quality of Regulation in Regulating Quality: A Proposal for an Integrated Incentive Approach to Telephone Service Performance.- 10 Optional Tariffs for Access Under the FCC’s Price-Cap Proposal.- 11 Optional Calling Plans and Bypass Efficiency.- 12 Pricing and Investment Incentives Under Price Ceiling Regulation.