Chapter

Overview of Infrastructure Economics

Brett M. Frischmann

in Infrastructure

Published in print March 2012 | ISBN: 9780199895656
Published online May 2012 | e-ISBN: 9780199933280 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199895656.003.0003
Overview of Infrastructure Economics

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This chapter provides an overview of the traditional microeconomic analysis of infrastructure. There are two primary microeconomic perspectives on infrastructure: one that is grounded in public welfare economics and emphasizes the public goods attributes of infrastructure, and another that is grounded in regulatory economics and emphasizes the potential natural monopoly attributes of infrastructure industries. Both perspectives identify potential market failures that may justify some form of government intervention. Neither tradition focuses on infrastructure exclusively. Yet the traditions converge in the infrastructure context.

Keywords: microeconomic analysis; infrastructure analysis; public welfare economics; regulatory economics

Chapter.  6266 words. 

Subjects: Environment and Energy Law

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