Have you ever wondered how your telephone company or Internet
service provider can give you access to almost all people in the
world, or how electricity suppliers can compete with each other if
there is only one electric supply line passing through your street?
This Element deals with the economics and public regulation of such
network industries. It puts particular emphasis on the specific
economic concepts used for analyzing them and on the regulatory
reform movement and the compatibility of regulation and
competition. Worldwide most of these industries have changed
dramatically in recent years, telecommunications in particular.
Network industries mostly exhibit economies of scale in production
and similar economies in consumption. Both of these properties
cause market power problems that often require industry-specific
regulation. However, due to technological and market changes
network policies have moved on from end-user regulation to
wholesale regulation and in some cases to deregulation.
General
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