Regulatory Economics: Twenty Years of Progress?

In the 20 years since the Center for Research in Regulated Industries' Eastern Conference has been in existence there have been numerous changes in regulatory economics and regulation. This paper provides a review of the major changes seen from our own perspective. We review some of the major developments in theory as well as key developments in the theory and practice of incentive regulation. We are critical of some of the theory as well as the effectiveness of deregulation.