The Euro Currency free essay sample

Portrays the monetary advances which have just been started toward making a bound together European money. At that point subtleties the monetary and political occasions of the previous not many months which have obfuscated the Euros future. Presentation As of late there has been expanding hypothesis that the development towards a solitary money in the European Monetary Union (EMU) will be postponed or even relinquished (Kamm and Steinmetz, 1997). The motivation behind this investigation will be to initially depict the monetary advances which have just been started, both exclusively and all things considered. By the part conditions of the European Union to make a typical money. The conversation will at that point detail the financial and political occasions of the previous scarcely any months which have thrown an improving cover over the probability of an Euro-cash sooner rather than later. The introduction will finish up with certain theories on the probabilities for a typical money in the more extended term just as sum up the natural challenges of financial administration

Alfred Stieglitz's Photograph of Marcel Duchamp's Fountain Term Paper

Alfred Stieglitz's Photograph of Marcel Duchamp's Fountain - Term Paper Example The paper Alfred Stieglitz's Photograph of Marcel Duchamp's Fountain centers around investigation and research about Alfred Stieglitz's photo of Marcel Duchamp's Fountain fine art. Stieglitz set the ‘Fountain’ at the viewer’s eye level, brought it close, and amplified its essence. He further pivoted it somewhat on its hub to set up only a bit of strain, and lit it from better than that it looks significantly secluded against its setting yet additionally hidden, grumpy and baffling. Duchamp’s ‘the Fountain’ is seen through the eyes of Albert Stieglitz. The photo is white in shading that is made of the range of hues. It is made of porcelain which is a cleaned/delicate material. Stieglitz took a standard article, gave it importance by situating it so that its helpful essentialness was eclipsed by the enhanced one with another title and another perspective, along these lines making a totally different idea for that object. Alfred Stieglitz life tra versed from 1864 to 1946. Stieglitz was the most regarded picture taker of his time, and he battled for the acknowledgment of photography as a substantial type of craftsmanship. He is one of the figures who altered the American photography. Brilliant Lint thinks that its difficult to envision the bearing that photography would have taken without the contribution of Stieglitz. He was an advertiser of different people’s works, lighting up them with his photograph works. The ‘Fountain’ was brought to 291, and when it was there it was shot by Stieglitz who was enormously diverted by Duchamp’s ‘Fountain’.

2012 Applicant facts #1 COLUMBIA UNIVERSITY - SIPA Admissions Blog

2012 Applicant facts #1 COLUMBIA UNIVERSITY - SIPA Admissions Blog SIPA’s diverse student body is one of its greatest attributes. Each year we receive applications from nearly 100 different countries from applicants with varied academic and professional backgrounds. As you await your decisions, we thought it would be fun to post a few entries based on factoids about this year’s applicant pool. This first post has some information on the citizenship of the Fall 2012 applicants. Columbia and SIPA, in particular, has one of the most international student bodies in the world. Columbia University ranks third in the United States in terms of international student enrollment and SIPA commonly enrolls students from more than 100 countries per year. This year applicants for our two-year programs hail from 98 different countries.   This figure, however, does not include U.S. Permanent Residents.   Many Permanent Residents represent countries not reflected in the 103 countries below. Afghanistan Albania Argentina Armenia Australia Austria Azerbaijan Bahrain Bangladesh Belarus Belgium Bhutan Bolivia Bosnia and Herzegovina Brazil Bulgaria Burma Cameroon Canada Chile Colombia Costa Rica Croatia Cyprus Czech Republic Democratic Republic of the Congo Denmark Ecuador Egypt El Salvador Ethiopia Finland France Georgia Germany Ghana Greece Guinea Honduras Hungary Iceland India Indonesia Iran Ireland Israel Italy Jamaica Japan Jordan Kazakhstan Kenya Kuwait Latvia Lebanon Malawi Mexico Mongolia Morocco Mozambique Nepal The Netherlands New Zealand Niger Nigeria Norway Pakistan Paraguay Peoples Republic of China Peru Philippines Poland Portugal Romania Russia Saudi Arabia Serbia Sierra Leone Singapore Slovenia South Africa South Korea Spain Sri Lanka Sweden Switzerland Syria Taiwan Tanzania Thailand Trinidad and Tobago Tunisia Turkey Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Venezuela Vietnam Zambia Zimbabwe

Juvenile Court Vs. Adult - 1452 Words

Nowadays, murders, rapists and other heinous crimes can be committed by anyone. A fourteen-year-old teenager murders someone or does a massacre in school can be often seen from the headline news of newspaper. However, these youth criminals may have much less severe punishment than adults may have who have done the same crime. A criminal is a criminal that must be punished as no difference between adult and youths; especially, the crimes are categorized under murder and rape. A bullet wound just hurt as much when a child as fires the gun as when an adult fires the gun. Therefore, regardless to age, the youths who commit heinous crimes like murder and rape should be charged as adults in a way of the punishment they deserve the same. The difference between juvenile court and adult court have been distinct. The issue has been a controversial one for a long time. The two justice systems, juvenile court and adult court have been long established for decades. Both involve people accused of crimes with the basic individual rights in the court. According to Pacific Juvenile Defender Center, it stated, â€Å"Youth may be held under juvenile court jurisdiction from age 12 until age 21, or until age 25 if he or she is committed to the California division of juvenile justice.† (YLC, 2009) The purpose of juvenile court system was set up for those youths who are not as mature and cannot be held as adults. However, juvenile crimes are becoming more often and heinous, it is necessary to focusShow MoreRelatedJuvenile Vs Juvenile915 Words   |  4 PagesJuvenile v. Adult Corrections Juvenile delinquents use to not face police or a correction system, only the fear and punishment of their families. However, as the juvenile delinquents aged they were faced with harsher punishments, but it was not until the 1800s reformers started looking for ways to teach values and built asylum and training schools. Then the concept of parens patriae occurred to establish the right to intervene in a child’s life when there were issues (Siegel, 2016). The next majorRead MoreJuvenile Violent Crime And Juvenile Crime Rates1720 Words   |  7 Pagespunishments as adults, depending on the crime they committed. Punishments even included death if the juvenile was deemed to be past the point of help. Later on courts were geared more towards rehabilitation than punishment. Reform movements came along and parents could send their children off to reformatories to live and work as part of their rehabilitation. Due to poor living and working conditions many of these places were closed down. Soon after the Progressive Era, the first juvenile court system wasRead MoreJuvenile Rehabilitation: Adult Prison vs. Juvenile Incarceration1703 Words   |  7 PagesJuvenile Rehabilitation: Adult Prisons vs. Juvenile Incarceration Maureen Fries-Labra English 122 Anna Hopson December 14, 2009 Juvenile Rehabilitation: Adult Prisons vs. Juvenile Incarceration The criminal justice system has a branch for juvenile offenders. Established in the early twentieth century; it is the responsibility of this division to decide the fates of youthful offenders. This is administered by family court with support of social workers and family. With the increased numberRead MoreEssay on Adult Justice System vs. Juvenile Justice System1145 Words   |  5 PagesAdult Justice System vs. Juvenile Justice System Versus CJ150: Juvenile Delinquency Josh Skaggs There are many similarities and differences between the adult and juvenile justice systems. Although juvenile crimes have increased in violence and intensity in the last decade, there is still enough difference between the two legal proceedings, and the behaviors themselves, to keep the systems separated. There is room for changes in each structure. However, we cannot treat/punish juvenileRead MoreShould The Texas Criminal Justice System Be Legal?1375 Words   |  6 Pagesjustice system be able to charge juveniles as adults in trials when faced with serious charges? Prosecutors are using both sides of this argument to their advantage. In Texas, the Juvenile Law states that, â€Å"a juvenile is defined as a person who is not old enough to be held responsible for criminal acts.† In order for a juvenile to be tried as an adult, a prosecutor can use one of many ways to go about this. One way prosecutors can proceed, in trying the juvenile as an adult, is by exercising the 2011 SenateRead MoreMaking Poor Decisions : The Sentencing Age For Juveniles1257 Words   |  6 Pageswhat happens when making a poor decision results in unforeseen consequences that can lead to the destruction of an individual’s adult life. For some juveniles, those poor decisions consist of the commission of criminal offenses, which can automatically set them up for failure in their adult lives. P1 P2 Taking the initiative to change the sentencing age for juveniles will help America not only use funds in a more constructive way, but will also help youth learn from their mistakes without beingRead MoreJuveniles and The Death Penalty Essay1604 Words   |  7 PagesJuveniles and The Death Penalty *No Works Cited One of the most controversial issues in the rights of juveniles today is addressed in the question, Should the death penalty be applied to juveniles? For nearly a century the juvenile courts have existed to shield the majority of juvenile offenders from the full weight of criminal law and to protect their entitled special rights and immunities. In the case of kent vs. United states in 1996, Justice Fortas stated some of these special rightsRead MoreJuvenile Delinquency Prevention Act Of 19741576 Words   |  7 Pagesexploring the internet on juvenile delinquents. We as a class have had many good questions to answer about the different ways juveniles are treated, and what the correct or incorrect treatment is for juveniles. We have written many papers and had many discussion on historical milestones, landmark cases, adult courts, juvenile courts, probation and parole, detention centers and juvenile training programs. This semester has really changed the way that I look at juvenil e delinquents. Three historicalRead MoreSimilarities and Differences Between the Juvenile Justice and Adult Criminal System835 Words   |  4 PagesRunning Head: JUVENILE V. CRIMINAL 1 Juvenile Justice System V. Criminal Justice System Ronda Cauchon CJ150-01 Professor Abreu Kaplan University October 9, 2012 JUVENILE V CRIMINAL 2 Juvenile Justice System V. Criminal Justice System In the earliest of times, juvenile offenders were treated theRead MoreThe Juvenile Justice System Is The Primary System Used991 Words   |  4 Pages The Juvenile Justice System is the primary system used to handle youth who are convicted of criminal offenses. It is just over 100 years old. Over time it has gone through several changes and its unlikely to disappear anytime soon. We as Americans are still trying to find different ways to approach juvenile justice vs. approaching it as adult justice. Throughout most of history, young adults and or children did not have a separate status between juvenile and adults. Once you reached the ages

The Definition Civil Liberties and Some Examples

Civil liberties are rights that are guaranteed to the citizens or residents of a country or territory. Theyre  a matter of fundamental law. Civil Liberties vs. Human Rights Civil liberties generally differ from human rights, which are universal rights to which all human beings are entitled regardless of where they live. Think of civil liberties as rights that a government is contractually obligated to protect, usually by a constitutional bill of rights. Human rights are rights implied by ones status as a person  whether the government has agreed to protect them or not. Most governments have adopted constitutional bills of rights that make some pretense of protecting basic human rights, so human rights and civil liberties overlap more often than they dont. When the word liberty is used in philosophy, it generally refers to what we would now call human rights rather than civil liberties because theyre regarded as universal principles and not subject to a specific national standard. The term civil rights is a near-synonym, but it often specifically refers to rights sought by African Americans during  the American civil rights movement. Some History The English phrase civil liberty was coined in a 1788 speech by James Wilson, a Pennsylvania state politician who was advocating the ratification of the U.S. Constitution. Wilson said:   We have remarked, that civil government is necessary to the perfection of society. We now remark that civil liberty is necessary to the perfection of civil government. Civil liberty is natural liberty itself, divested only of that part, which, placed in the government, produces more good and happiness to the community than if it had remained in the individual. Hence it follows, that civil liberty, while it resigns a part of natural liberty, retains the free and generous exercise of all the human faculties, so far as it is compatible with the public welfare. But the concept of civil liberties dates back much further and most likely predates that of universal human rights. The 13th century English Magna Carta refers to itself as the great charter of the liberties of England, and of the liberties of the forest (magna carta libertatum), but we can trace the origin of civil liberties back much further to the Sumerian praise poem of Urukagina at around the 24th century BCE. The poem which establishes the civil liberties of orphans and widows and creates checks and balances to prevent government abuses of power. Contemporary Meaning In a contemporary U.S. context, the phrase civil liberties generally brings to mind the American Civil Liberties Union (ACLU), a progressive advocacy and litigation organization that has promoted the phrase as part of its efforts to protect the authority of the U.S. Bill of Rights. The American Libertarian Party also claims to protect civil liberties but it has deemphasized civil liberties advocacy over the past several decades in favor of a more traditional form of paleoconservatism. It now prioritizes states rights rather than personal civil liberties. Neither major U.S. political party has a particularly impressive record on civil liberties, although the Democrats have historically been stronger on most issues due to their demographic diversity and relative independence from the Religious Right. Although the American conservative movement has had a more consistent record with respect to the Second Amendment and eminent domain, conservative politicians do not generally use the phrase civil liberties when referring to these issues. They tend to avoid talking about the Bill of Rights for fear of being labeled moderate or progressive. As has been largely true since the 18th century, civil liberties are not generally associated with conservative or traditionalist movements. When we consider that liberal or progressive movements have also historically failed to prioritize civil liberties, the necessity of aggressive civil liberties advocacy, independent of other political objectives, becomes clear.   Some Examples If the fires of freedom and civil liberties burn low in other lands, they must be made brighter in our own.  President Franklin D. Roosevelt  in a 1938 address to the National Education Association. Yet four years later, Roosevelt authorized the forcible internment of 120,000 Japanese Americans on the basis of ethnicity.   You dont have any civil liberties if youre dead. Senator Pat Roberts (R-KS) in a 2006 interview regarding post-9/11 legislation.Manifestly, there is no civil liberties crisis in this country. People who claim there is must have a different goal in mind. Ann Coulter in a 2003 column

The Roman Colosseum Free Essays

The Roman Colosseum was built around 70 AD and was opened around 80 AD. The Roman Colosseum is an amphitheatre in the center of rome. It was a gift to the people of roman. We will write a custom essay sample on The Roman Colosseum or any similar topic only for you Order Now The colosseum was used as many things such as gladiator battles, execution, drama, animal hunts, mock sea battles. The colosseum is 157 feet tall and covers 6 acres of ground. The Colosseum was also thought to of been designed by many different people, not just one. The Colosseum can hold up to 50,000 people and has 80 or more entrances. The games and even festivals could last up to 100 days at the Colosseum. The Romans would sometimes flood the Colosseum and have miniature naval battles. In the first games held at the Colosseum somewhere around 9,000 wild animals were slaughtered. People think that through all the games held at the Colosseum somewhere around one million animals have been killed and 500,000 people have been killed also. The Colosseum is the most famous tourist attraction site in all of Rome and it gets millions of views every year. In animal games, some animals were wiped out entirely from the face of the earth. One of the animals was the North African Elephant it was also a war animal. The Hippopotamus is not even found in the Nile river anymore because of this. The Hypogeum was the area beneath the Colosseum and it had to levels to it. There were over 32 different animal cages and 80 vertical shafts leading straight to the Colosseum floor. Gladiators were usually slaves but not always, somewhere ex-soldiers trying to show off their ability of fighting. The fighting didn’t always go to the death. There were referees that would stop the fighting after someone was seriously injured. Sometimes they both got to leave the arena if the enthused the crowd. Gladiator battles were originally funeral services. Gladiators didn’t just fight anyone, it was kind of like MMA fighting were the have weight groups, gladiators had classes based off of record, skill, and experience. Some gladiators were women. They fought in the Colosseum same as men did. Although their participation in the gladiator games might have ended somewhere around 200 A.D. In the Colosseum the also did dramas and plays. They did comedy plays and tragedy plays. One actor could play many different characters because they wore mask and would go behind a background and change their mask into a different character. The mask would have different expression on them so the audience knew what how the character was feeling. At first all actors were males and when playing a womens part, they just dressed up like a girl and used a high pitched voice. Their costumes were very dramatic and oversized so they could be seen in the back of the theater. In the theater they also had animal and gladiator battles. They even had animal on animal fights. In one animal on animal fight an elephant picked up a spear with his trunk and stabbed a rhino’s eyes out. One man one time beat 20 different animals in a single battle, they were all lions and bears and leopards. How to cite The Roman Colosseum, Papers

Electricity and Natural Gas Markets †Free Samples to Students

Question: Discuss about the Electricity and Natural Gas Markets. Answer: Introduction Monopoly is a market where single seller captures the entire market share. Because of maximum market power the monopolist always, exploit resources. In a monopoly market resource allocation and distribution is not done in an efficient manner. There is always a deadweight loss in the resulting market. However, there are situation where presence of a single business firm leads to economies of scale and hence, is best in terms of efficiency in allocation. Such a market is called natural monopoly. It might happen that one firm is able to operate at the decreasing part of average total cost and still satisfies market demand. This is the situation where the production process entails a high fixed cost compared to the variable cost. This is described as the situation of natural monopoly. Dividing natural monopoly market results in rising average cost and hence a higher price in the market. Mostly public utilities such as water service, electricity service are examples of natural monopoly. Natural monopoly possesses a dilemma in public policy designing. Because of presence of economies of scale, natural monopoly entails productive efficiency. If entry is allowed in the market then consumers suffers with a high price. Being a sole supplier in the market the monopoly might be tempted to exploit its monopoly power and earn a higher profit. Therefore, such an unregulated monopoly causes concern. Comparison between monopoly and perfect competition In a perfectly competitive market, there are several sellers and buyers participating in the exchange process. The equilibrium of a single firm occurs at a point where price equals marginal cost in the short run and in the long run price is set at the minimum point of average total cost leaving only normal profit for the firms presents in the industry (Lim Yurukoglu, 2015). The equilibrium in the industry is obtained at the point of intersection between the industry demand and supply curve. The situation is different in a monopoly market. There are no difference between firm and industry in a monopoly market. The industry supply curve becomes marginal cost curve for the monopolist. The monopolist set it price where marginal revenue equals marginal cost. The resulted price and quantity in the monopoly market is inefficient in comparison to the competitive market. It is seen that the monopolist sells a lower quantity at a high price as compared to competitive firm (Stiglitz Rosengard, 2015). This results in loss of welfare to the society known as deadweight loss. This is explained in the following figure. As discussed above existence of monopoly in a pure form is a inefficient form of market. The situation in natural monopoly is quite different. There are markets where allowing competition is not an optimal decision. Public utilities are examples of natural monopoly. Natural monopoly operates at the falling part of average total cost. Because of operating at the left of minimum point of average cost natural monopolists reap the benefit of economies of scales (Lim Yurukoglu, 2014). However, the pricing strategy here leads to ambiguity. Three types of pricing strategy can be observed in a natural monopoly market. Unregulated natural monopoly In a natural monopoly market, the single supplier can behave like a pure monopolist if the market left unregulated. Here, the monopolist set its price by following standard profit maximization condition. The profit maximizing condition indicates price and quantity where marginal revenue and marginal cost curve cut each other. In an unregulated situation profit maximizing monopolist would chose this point at an optimum equilibrium point (Kirzner, 2015). A denotes the point where the natural monopolist operate in the absence of regulation. The profit maximizing price is shown in the above figure is shown as PM. It is obtained corresponding to the point where marginal revenue cuts marginal cost curve. Condition of a competitive form of market is most efficient for the society. The competitive firm set its price at a point where is equalizes with marginal cost. It is called the efficient pricing (Foster, 2014). Point C shows the socially optimum point. PE is the socially efficient price. Corresponding to this the optimum quantity is QE. Price in the efficient condition is less than that that under profit maximization condition. The situation is different from the competitive market. In the competitive market firms operates at the minimum point of average cost. In the natural monopoly, firm operates at the falling part of average cost curve. Hence, natural monopolist fails to recover average cost of production. It the monopolist set its price at his level then a loss will be realized. The loss is indicated by the area of the rectangle PRBCPE. Natural monopolist output when leave unregulated is QM and corresponding price is PM. Socially optimum price is PC and optimum quantity is Qc. Clearly PM is much grater than PC and QM is much less than QC. As the society gets a lower quantity, good at a high price there are huge amount of dead weight loss as shown by the triangle AEC. To make the monopolist operate at the efficient point government has to subsidize for the loss incurred by the monopolist at this point. The additional burden of subsidy may exceed the deadweight loss (Brown, 2017). Hence, the regulators should make some alternatives of price. Price regulation As an alternative, the regulators can set price following average pricing rule. The price here is set at a point where price equals average cost (Makholm, 2015). In the above figure, B denotes this point. Corresponding to this point optimal market quantity is OQR and price is OPR. At this point total revenue earned by the monopolist equals total cost. Hence, if the monopolist operates at this point then only normal profit will be earned. Debate remains whether government should go for a regulatory policy or not (Yurukoglu Lim, 2014). If the policy of regulation fails to give desired return then it might lead to inefficiency in the allocation of resources and results in loss to the entire society. The regulator has two options whether to go for a marginal cost pricing strategy or choose an average pricing strategy. The monopolist will never choose an output level beyond OQR. With a natural monopoly, the monopolist enjoys economies of scale. This means the long run marginal cost curve is below the long run average cost curve. Therefore, pricing strategy based on marginal cost results always incurred loss for the monopolist. The best option for regulator is then to use average cost pricing strategy and set the price equal to its average cost. In this situation, there will be no excess profit (Carvalho Marques, 2014). Here, only profit is realized that is a part of cost. Price cap regulation versus Cost plus regulation Regulators attempt to choose a regulation point like by equalizing price with marginal cost. In order to implement the strategy the regulators use a simple and general approach. They first compute the average production cost of natural monopoly companies like electricity or water companies. In the cost calculation, they include the normal profit rate (Simshauser, 2017). The normal profit is included in order to ensure the fact that the monopolists able to earn a normal profit after the regulation. After calculation of cost, price is determined accordingly. The process of regulating price in this method is called cost plus regulation. Though the method is simple but is has its own shortcoming. The monopoly seller can reimburse for the cost accounted in the production process. The producer gives less care to the issue of high cost. Because the monopolist knows that, the burden of high cost can be pass to the consumers by charging a high price. The regulation through cost plus technique lacks efficiency. It cannot efficiently choose the minimum price for the society (Basso, Figueroa Vsquez, 2017). Once price regulation is undertaken through cost plus method then the monopolist has a tendency to overstate its cost. If the right cost figures are not disclosed then it is not possible to efficiently set the price. There is another factor to be considered here. When price is set equal to its average total cost then the producer lose all initiatives for reducing its production cost. In an unregulated market monopolists tries to minimize cost at least as possible to maximize profit. In fact, in the regulated market monopo list can engage in practice that unnecessarily increase total cost and hence average cost (Puller, 2013). Here, the monopolist can employ a large number of staff even when their marginal productivity is zero. The monopolist can consider expanding its business by undertaking capital projects. Building additional factory or raising its fixed capital cost the monopolist always attempt to maintain a high price in the market (Li et al., 2015). As an alternative to cost plus regulation, the regulators can undertake price cap regulation for a natural monopoly market. The policy began in 1980s and 1990s when policy makers were searching for an alternative to cost pricing technique and implemented price cap regulation. In this technique, the regulators set a fixed price that is independent of the production cost. The monopolist has to this price for a specific period. The price is usually revised with the passes of time (Varian, 2014). Considering the fact that the monopolist enjoys economies of scale, a general downward trend is observed in price revision. As the price is fixed, the monopolist attempts to reduce its profit retain a higher profit margin. If the monopolist able to find some cost efficient production technology then is its profit shares goes up until next revision of price s made. In case the monopolists fail to do so, the profit margin goes down. As a upper cap is fixed on the price this is known as price cap r egulation. If the monopolist fails to offer services at the set price then it suffers loss. In this situation, the monopolist has to wait for the next price revision. The next price revision is made based on firms performance (Dahl, 2015). However, execution of such a policy needs good care. The set price should be a realistic one. If the regulators set an unexpectedly low price then the monopolist cannot sustain with such a low price. Again, the policy fails to work if market condition changes overtime. In times f unexpected shock in the market, cost might be increased and hence the monopolist is unable to offer goods or services at the set cap (Leveque, 2013). However, price cap regulation is superior to cost plus regulation in terms encouraging the monopolist to make greater investment on innovation and thus increasing efficiency. Conclusion The essay discusses price regulation in a natural monopoly market. A competitive market is preferable over a monopoly market. In the monopoly market a lower quantity is sold at high price. As a result, the society suffers from welfare loss. A natural monopoly on the other hand, is a market where a single seller than allowing competition in the industry best serves the market. The natural monopolist always faces a falling average total cost and hence enjoys the benefits of economies of scale. The problem occurs when the natural monopolist behaves like a pure monopolist and charges abnormally high price. In this situation, the government considers regulating price in the monopoly market. The pricing policy used by the regulator is average pricing policy. The regulators cannot choose marginal pricing policy because at this point the monopolist incurs lose. Implementation of such a pricing strategy needs subsidy from the government to recover loss. It is unlikely for the government to in crease unnecessary burden on its budget. Average or marginal pricing policy is considered under the cost plus regulation. However, here the monopolist can still maintain a high price by overstating its cost. Another regulatory practice is in terms of implementing price cap regulation. It is superior in the sense that here the monopolist has a tendency to reduce cost for increasing profit and thus entails greater efficiency. References Basso, L. J., Figueroa, N., Vsquez, J. (2017). Monopoly regulation under asymmetric information: prices versus quantities.The RAND Journal of Economics,48(3), 557-578. Brown, K. C. (Ed.). (2017).Regulation of the natural gas producing industry. Routledge. Carvalho, P., Marques, R. C. (2014). Computing economies of vertical integration, economies of scope and economies of scale using partial frontier nonparametric methods.European Journal of Operational Research,234(1), 292-307. Dahl, C. (2015).International Energy Markets: Understanding Pricing, Policies, Profits. PennWell Books. Foster, J. B. (2014).The theory of monopoly capitalism. NYU Press. Kirzner, I. M. (2015).Competition and entrepreneurship. University of Chicago press. Leveque, F. (Ed.). (2013).Transport pricing of electricity networks. Springer Science Business Media. Li, H., Sun, Q., Zhang, Q., Wallin, F. (2015). A review of the pricing mechanisms for district heating systems.Renewable and Sustainable Energy Reviews,42, 56-65. Lim, C. S., Yurukoglu, A. (2014). Dynamic Natural Monopoly Regulation: Time Inconsistency, Asymmetric Information, and Political Environments.Documento de Trabajo, Stanford University. Lim, C. S., Yurukoglu, A. (2015). Dynamic natural monopoly regulation: Time inconsistency, moral hazard, and political environments.Journal of Political Economy. Makholm, J. D. (2015). Regulation of natural gas in the United States, Canada, and Europe: Prospects for a low carbon fuel. Puller, S. L. (2013). Efficient retail pricing in electricity and natural gas markets.The American Economic Review,103(3), 350-355. Simshauser, P. (2017). Monopoly regulation, discontinuity stranded assets.Energy Economics,66, 384-398. Stiglitz, J. E., Rosengard, J. K. (2015).Economics of the Public Sector: Fourth International Student Edition. WW Norton Company. Varian, H. R. (2014).Intermediate Microeconomics: A Modern Approach: Ninth International Student Edition. WW Norton Company. Yurukoglu, A., Lim, C. (2014). Dynamic Natural Monopoly Regulation: Time Inconsistency, Asymmetric Information, and Political Environments. In2014 Meeting Papers(No. 530). Society for Economic Dynamics.