Economic Research On Price Regulation Of Resources Product

Since industrial society, resources products of production and consumption growing gap, natural gas and other mineral resources are non-renewable resources, it has become constraint of socio-economic development. Resources products, as basic material of social and life necessiities, which constitute the basic price level of nation economy. Whether the configuration of resources products is the market mechanism or mechanisms of price regulation and how to run the regulation, is a problem of institution.This paper takes theory of dissipation of rent, taking attributes of resources product as logical starting point, research governance mechanisms of dissipation of rent of resources products caused by price regulation. Based on theoretical analysis , carrying out an empirical analysis of price regulation in the United States and China.,the main contents and conclusions of this paper are:First of all, the general pricing and price regulation economics theory are reviewed. Study at home and abroad focused on the neoclassical economics framework of trying to "find" under the price regulation so that the optimal allocation of natural gas resources in the equilibrium price. The fundamental reason can not be resolved within resource pricing is that neoclassical economics does not involve value judgments under neoclassical economics system. Large-scale industrial era, the impact of resource constraints are increasingly becoming an important factor in institutional arrangements, resources product prices in charge of the utility to give up, return price of considerable quality and value theory and marginal analysis methods.Second, inferred from two perspectives that resources products pricing does not apply in general neoclassical economics, need price regulation for resource allocation. That is, abandon the cost definition in accounting to explain natural monopoly and price regulation. This paper takes the attribute of resources products. Natural gas has time attributes, social attributes, geographic attributes, and the combination of three attributes role each other.Non-renewable natural attributes of natural gas matches intergenerational optimal exploitation, the costs of environment pollution and efficient use of resources; in case of the commercialization of resources, time attributes and social attributes of natural gas by combining the use of resources the equal rights of the need for a fair role(usually the form of government in modern society )to protect low-income citizens the using right of natural gas; the distribution of natural gas form its geographical attributes ,and resource sharing need to transport means; they rely on simple supply and demand of the market price mechanism could not be completed. Another perspective, by the division of labor, this paper tests the theory that natural gas is different from the general industry product, because natural gas prices did not do as a result of the general division of labor and product market expansion brought about by prices declining.Third, this paper taking the theory of dissipation of rent and price regulation, put forward the basic theory of governance mechanism of resources products price regulation foming dissipation of rent, put forward the " dissipation of rent - minimize of dissipation of rent " governance approach, analysis on the institution arrangements of natural gas products price regulation.as a result of resource constraints.Fourth, because of neutral regulation , countries with different property implement price regulation on natural gas. The paper gives up the traditional general model of governance, privatization, nationalization and collective self-governance, taking the perspective of institutional analysis in order to minimize dissipation of rent, build a "price regulation brought about dissipation of rent - the legal system and other institutional arrangements tend to minimize of dissipation of rent " an institution of nested structure. That is, resources products price regulation brought about dissipation of rent, in order to minimize dissipation of rent, the legal system and regulation institution in conjunction with the price regulation institution to form an integrated structure to reduce dissipation of rent, fix the direction and extent of dissipation, reduce transaction costs, sustain relative price stability.Fifth, laws are the primary constraints to price regulation. Due to resource uncertainty in the future, the institution is a solution to the choice of uncertainty. Under price regulation, through the legal system rights can be defined between the national, market and enterprises to reduce dissipation of resources rent.Sixth, resources product price regulation, resources legal systems, regulation institution constitute the structure of minimizing dissipation of rent. The object of regulation - resources products, the subject of regulation - regulation of professional agencies, the rules of Regulation - operation of three-dimensional structure that is consisted of arrangements of legal and other regulation institution need to rely on the rule of law,and rule in accordance with the law can solve two problems: First, determining the path of the minimum dissipation of rent. That is, election of the cost required for different program; not need to take into account the level required to pay the cost, but also the need for comprehensive trade-off of the efficiency and fairness. Second, making the effectiveness of regulatory agencies in line with the requirements of minimum dissipation of rent. That is, formal rules and legal acts of regulatory agencies will be optimized to control the binding of the utility function, so that price regulation brought about by dissipation of rent. Take a point of studying minimization dissipation of rent, using the traditional SCP paradigm of industrial economics, studying the market structure by resources allocation of time and space efficiency , studying barriers to entry by imputed rent , studying social regulation acting on minimizing dissipate of rent by the external costs. Legal as formal rules can solve complex socio-economic system of measurement, implementation to determine the costs and benefits, lower information, monitoring and implementation costs, and tend to minimize dissipation of rent.Seventh, for the construction of the "price regulation brought about dissipation of rent- legal system and other regulation institution tend to bound the minimum dissipation of rent " nested structure of the institution, taking empirical study and marginal analysis oon United States and China's natural gas price regulation. Research on price regulation , there is a point needed to clear: the modern regulation is due to a conflict of interest by the community to coordinate the product of an objective need. The cycle of natural gas price regulation in United States shows that price regulation is closely related to certain level of economic development of society and market demand. Policy orientation of price regulation is closely related to ability to supply natural gas resources .Namely, price regulation is impacted by the constraint of resource. China has no professional regulatory agencies of natural gas ,which has been included in the energy management system. In different historical period, nation-building tasks and objectives of the different effect natural gas industry development and price regulation policy. Under public ownership, in order to achieve the maximization of national wealth accumulation, price regulation is a powerful tool. To remove the resource constraints, price regulation to improve the efficiency of the use of marginal progressive, and maintain the stability of relative prices in order to obtain the proceeds . Since market economy, price regulation policy can basically be a positive incentive to increase output and supply.