[A]s an alternative to antitrust and competition law, economic regulation can and has been established in three exceptional cases: (1) for those markets where it is clear that competition cannot be achieved by market forces; (2) where deviation from efficiency is deemed socially desirable; and (3) where the social and private benefits are clearly different, since in each of these cases, it is clear that a market without intervention will not result in the desired outcome (Economides, N. Competition policy in network industries: an introduction in D W Jansen (eds), Competition in network industries: Past, Present and the Future (Edward Elgar Publishing 2006) 117-118
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