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Science 5 December 1986:
Vol. 234. no. 4781, pp. 1211 - 1216
DOI: 10.1126/science.234.4781.1211
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Articles

Deregulation: Causes and Consequences

ELIZABETH E. BAILEY 1

1 Dean of the Graduate School of Industrial Administration at Carnegie Mellon University, Pittsburgh, PA 15213, and former vice chairman of the Civil Aeronautics Board.

As a consequence of deregulation, there have been fundamental changes in the way transportation and communications firms are conducting business. Companies are finding that they must be driven by market opportunities and financial needs, not by regulatory considerations. Prices must be based on cost, operations must become more efficient, and consumer-oriented product niches must be found. Moreover, deregulation has added a new element in industrial dynamics, by fostering more relations between the various modes of transportation and by cross-fertilization in computer and telecommunication technology. All in all, a more competitive and innovative spirit emerges from deregulation.


THIS ARTICLE HAS BEEN CITED BY OTHER ARTICLES:
Smart Computer-Assisted Markets.
K. A. MCCABE, S. J. RASSENTI, and V. L. SMITH (1991)
Science 254, 534-538
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