Regulation 2025: Spectrum of Regulatory Responses

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Meade, Richard
Evans, Lewis
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2015
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Abstract

This report provides a high-level review of the spectrum of regulatory responses (i.e. interventions, or approaches) that commonly arise in developed economies. The review is of regulation in general, but with frequent references to transport regulation. The observed spectrum of regulatory responses is explained in terms of technological innovations in both regulated industries and regulation itself, affecting both whether and how to regulate. Hence, the report highlights the main changes of regulatory approaches, and their drivers. The rationales for different regulatory approaches are summarised, as are their pros and cons. Finally, some likely future directions in transport regulation are discussed, including particular reference to the regulatory challenges and opportunities presented by tracking technologies, unmanned vehicles (e.g. driverless cars), and alternative passenger transport services (e.g. Uber).

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Industry economics and industrial organisation

Microeconomic theory

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Meade, R; Evans, L, Regulation 2025: Spectrum of Regulatory Responses, 2015

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