Market Structure and the Pricing of Electricity and Natural Gas
研究了美国电力和天然气市场结构（双产品垄断与单产品垄断）对价格的影响，发现结果最符合政治经济学理论，即监管者回应利益集团活动。
US Electricity and natural gas markets have traditionally been serviced by one of two market structures. In some markets, electricity and natural gas are sold by a regulated dual‐product monopolist, while in other markets, electricity and natural gas are sold by separate regulated single‐product monopolies. I analyze whether electricity and natural gas prices depend on the market structure and compare these results to the predictions of a number of theories. The results are most consistent with the political economy theories suggesting that regulators respond to interest group activity.