Privatizzazione e autorita di regolazione dei servizi di pubblica utilita: un'analisi economica

Although independent regulatory agencies are becoming more and more pervasive in many western countries, their study from an economic analysis viewpoint is in its infancy. The aim of the paper is to put together some suggestions coming from the economic theory of organisations, regulation and privatisation in order to attempt a cost-benefit analysis of different institutional arrangements for regulation. In particular the questions addressed are, (i) is the privatisation cum regulation model to be preferred to the state owned firm model? And, (ii) can independent agencies do better than ministerial bureaucracies in regulating public utilities? The answer to both questions is affirmative under mild conditions.