Economists have long recognized that regulation is an imperfect solution to market failure. Do the inefficiencies of regulation outweigh the inefficiencies of market failure? In this paper, we develop a stylized model of a monopolist offering two services, one more widely demanded than the other. We compare aggregate surplus from unregulated monopoly with aggregate surplus from a median voter m...

There is no doubt that related to safety-critical systems such as chemical plants, nuclear reactors, space shuttles and aircrafts, the issues of reliability, operating safety and environmental protection are of major importance. However, these issues together with increasing demands for availability and cost efficiency are relevant to not only mentioned safety-critical systems, but also other i...

Economic efficiency in using the solar panels as DC sources for impressed current cathodic protection of offshore structures was compared with sacrificial anode protection. The calculation based on example a sheet pile wall surface area 2000 m2 protected by various methods protection: powered rectifier device, batteries, without batteries and results showed that cost is lowest after 10 years op...