Regulation is a key concern of industries, consumers, citizens, and governments alike. Building on the success of the first edition, Understanding Regulation, Second Edition provides the reader with an introduction to key debates and discussions in the field of regulation from a number of disciplinary perspectives, looking towards law, economics, business, political science, sociology, and social administration. The book has been extensively revised and updated to take into account the significant developments and events of the past decade. Containing several new chapters, it has been completely restructured into seven parts, covering: the fundamental issues regarding regulation; different types of regulatory strategies; rules and enforcement; quality and evaluation; regulation at different levels of government; network issues; and concluding thoughts.Drawing on cross-sectoral and cross-national examples, this book reviews the central questions of regulation, and reflects upon those contentious issues that affect the design and operation of regulatory institutions. Amongst other topics, it discusses "better regulation," enforcement, self-regulation, risk regulation, cost-benefit analysis, and more utility regulation-oriented topics, such as price-setting. It will be an essential resource for academics, researchers, and graduates across the social sciences studying regulation.