The Telecommunications Act Of 1996 The Costs Of Managed Competition

Author : Dale E. Lehman,Dennis Weisman
Publisher : Springer Science & Business Media
Page : 134 pages
File Size : 50,6 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9781461543152

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The Telecommunications Act of 1996: The “Costs” of Managed Competition by Dale E. Lehman,Dennis Weisman Pdf

The Telecommunications Act of 1996 envisioned a competitive free-for-all in the U.S. telecommunications industry with removal of barriers to entry in local telecommunications markets and the lifting of the artificial restrictions that kept the Regional Bell Operating Companies (RBOCs) out of the interLATA long-distance market. After close to 5 years, only one RBOC has been granted permission (controversially) to enter the interLATA market, and local competition has yet to provide most consumers with meaningful choices. In addition, the wave of mergers across the industry has raised the specter of putting the former Bell System back together again. Policymakers now openly question whether the Act can deliver what it promised. Three principal themes are developed in this book. First, there has been a coordination failure between Congress and the FCC in translating the principles embodied in the Act into practice. The authors provide evidence for this by analyzing stock market reactions to legislative and regulatory actions. This coordination failure was largely predictable, given the ambiguity in the Act, as well as conflicting jurisdictions between the FCC and the states. Second, the Act calls for wholesale prices to be `based on cost.' Regulators adopted a costing standard (TELRIC) that provides a means to subsidize competitive entry in local telephone service markets. The ready adoption of the TELRIC standard by regulators is shown to be tied to the third theme: price cap regulation provides regulators with `insurance' against the adverse effects of competition in local telephone markets. Statistical analysis reveals that regulators in price cap states set uniformly lower unbundled network element prices (lower barriers to entry) in comparison with regulators in rate-of-return and earnings sharing states. The result is a triumph of regulatory processes over market processes - the antithesis of the purpose of the Act.

Author : Dale E Lehman,Dennis Weisman
Publisher : Unknown
Page : 144 pages
File Size : 41,6 Mb
Release : 2000-09-01
Category : Electronic
ISBN : 1461543169

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The Telecommunications Act Of 1996 by Dale E Lehman,Dennis Weisman Pdf

Author : Michael A. Crew
Publisher : Springer Science & Business Media
Page : 216 pages
File Size : 43,6 Mb
Release : 2013-03-09
Category : Business & Economics
ISBN : 9781475731927

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Expanding Competition in Regulated Industries by Michael A. Crew Pdf

Expanding Competition in Regulated Industries reviews the changing regulatory environment, notably incentive regulation and competition in regulated industries. Some of the major changes in electricity, gas, and telephone utilities allow for competition in local service through unbundling. This book is of interest to researchers, utility managers, regulatory commissions, and the Federal Government.

Author : Robert W. Crandall
Publisher : Rowman & Littlefield
Page : 225 pages
File Size : 51,7 Mb
Release : 2005-04-26
Category : Business & Economics
ISBN : 9780815797708

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Competition and Chaos by Robert W. Crandall Pdf

The 1996 Telecommunications Act was an attempt to increase competition among telecommunications providers in the United States by reducing regulatory barriers to market entry. This competition was expected to drive innovation in the telecommunications sector and reap economic benefits for both American consumers and telecommunications providers. The legislation, however, had a markedly different impact. While many of the more aggressive providers enjoyed sharp short-term rises in stock market values, they soon faced sudden collapse, leaving consumers with little or no long-term benefit. In Competition and Chaos, Robert W. Crandall analyzes the impact of the 1996 act on economic welfare in the United States and how the act and its antecedents affected the major telecommunications providers. He argues that the act was far too stringent, inviting the Federal Communications Commission and state regulators to micromanage competitive entry into local telecommunications markets. Combined with the bursting of the dot.com and telecom stock market bubbles, this aggressive policy invited new and existing firms to invest billions of dollars unwisely, leading to the 2001–02 collapse of equity values throughout the sector. New entrants into the market invested more than $50 billion in unproductive assets that were quickly wiped out through massive failures. The 1996 act allowed the independent long-distance companies, such as MCI and AT&T, to live a few years longer. But today they are a threatened species, caught in a downward spiral of declining prices and substantial losses. The industry is preparing for an intense battle for market share among three sets of carriers: the wireless companies, the local telephone carriers, and the cable television businesses. Each has its own particular advantage in one of the three major segments of the market—voice, data, and video—but none is assured a clear path to dominance. Although the telecom stock market collapse i

Author : Anonim
Publisher : Unknown
Page : 1136 pages
File Size : 53,8 Mb
Release : 1986
Category : Energy policy
ISBN : UCAL:B5145858

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Antitrust Law Journal by Anonim Pdf

Author : Michael A. Crew,Menahem Spiegel
Publisher : Springer Science & Business Media
Page : 247 pages
File Size : 41,9 Mb
Release : 2006-02-20
Category : Business & Economics
ISBN : 9780387231969

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Obtaining the best from Regulation and Competition by Michael A. Crew,Menahem Spiegel Pdf

Deregulation has introduced competition into traditionally monopolistic markets, particularly telecommunications and electric utilities. This book brings together ten essays that were presented at the Center for Research in Regulated Industries at Rutgers University and funded by several regulated companies. The authors, who include young scholars as well as established and highly regarded consultants and researchers, address some of the major issues now facing network industries and regulators - deregulation, competition, stranded assets, diversification, pricing, and mergers and acquisitions.

Author : Ahmad Faruqui,Kelly Eakin
Publisher : Springer Science & Business Media
Page : 372 pages
File Size : 47,7 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9781461508335

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Electricity Pricing in Transition by Ahmad Faruqui,Kelly Eakin Pdf

Electricity Pricing In Transition is written to address the new issues facing utilities, retailers, regulators, and customers in the changing electricity market. It is organized into five sections. Section I deals with the new restructured organization that has emerged from yesterday's vertically integrated, regulated monopoly company. Section II deals with issues in competitive pricing. Section III reviews the role of demand response and product design in today's chaotic marketplace. Given the single importance of California's energy crisis and the fact that it will be studied for years to come, Section IV is devoted to studying the lessons learned from this crisis. The final section of the book deals with markets and regulations. This book will provide practitioners with guidance on how to avoid the major pitfalls in pricing electricity while the market is in transition by drawing upon the insights and lessons learned from the experience of others that are documented in this book.

Author : Michael A. Crew,Paul R. Kleindorfer
Publisher : Springer Science & Business Media
Page : 392 pages
File Size : 55,5 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9781441989154

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Competitive Transformation of the Postal and Delivery Sector by Michael A. Crew,Paul R. Kleindorfer Pdf

Competitive Transformation of the Postal and Delivery Sector is an indispensable source of information and analysis on the current state of the postal and delivery sector. It offers current insights of leading researchers and practitioners into strategy and regulation as well as the economics of this sector. Issues addressed include national and international perspectives, financial viability, the universal service obligation, regulation, competition, entry, the role of scale and scope economies, the nature and role of cost and demand analysis in postal service, productivity, interaction of law and economics, human resources, transition and reform issues. The papers in the book were selected from the papers presented at the 11th Conference on Postal and Delivery Economics, Toledo, Spain, June 4-7, 2003.

Author : Michael A. Crew,Joseph C. Schuh
Publisher : Springer Science & Business Media
Page : 232 pages
File Size : 48,8 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9781461508779

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Markets, Pricing, and Deregulation of Utilities by Michael A. Crew,Joseph C. Schuh Pdf

Markets, Pricing, and Deregulation of Utilities examines the effects of deregulation on the energy and telecommunications industries in an economic environment that has changed dramatically since deregulation was first introduced in those industries several years ago. The contributors to this book discuss the aspects of deregulation that appear to be succeeding and those that seem to be failing. Within that framework, they offer insight as to the possible next stages of regulatory restructuring and reform. The contents of this book provide a strong theoretical base leading to a better understanding of markets, pricing, and deregulation by utility managers, regulators, and economists.

Author : Michael A. Crew,Paul R. Kleindorfer
Publisher : Springer Science & Business Media
Page : 383 pages
File Size : 48,6 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9781461502333

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Postal and Delivery Services by Michael A. Crew,Paul R. Kleindorfer Pdf

Postal and Delivery Services: Delivering on Competition is an indispensable source of information and analysis on the current state of the postal and delivery sector. It offers current insight into strategy, regulation as well as the economics of this sector. Issues addressed include international postal policy, the universal service obligation, regulation, competition, entry, the role of scale and scope economies, the nature and role of cost and demand analysis in postal service, productivity, interaction of law and economics, human resources, transition and reform issues.

Author : Paul R. Kleindorfer
Publisher : Springer Science & Business Media
Page : 410 pages
File Size : 50,5 Mb
Release : 2002
Category : Business & Economics
ISBN : 0792376382

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Postal and Delivery Services by Paul R. Kleindorfer Pdf

Postal and Delivery Services: Pricing, Productivity, Regulation and Strategy offers current insight to problems in postal and delivery economics. Issues addressed include international postal policy, the universal service obligation, regulation, competition, entry, the role of scale and scope economies, the nature and role of cost analysis in postal service, productivity, interaction of law and economics, future technologies, and service standards.

Author : David G. Loomis,L.D. Taylor
Publisher : Springer Science & Business Media
Page : 260 pages
File Size : 55,7 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9781461508618

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Forecasting the Internet by David G. Loomis,L.D. Taylor Pdf

David O. Loomis Illinois State University The explosive growth of the Internet has caught most industry experts off guard. While data communications was expected to be the "wave of the future," few industry observers foresaw how rapid the change in focus from voice communications towards data would be. Understanding the data communications revolution has become an urgent priority for many in the telecommunications industry. Demand analysis and forecasting are critical tools to understanding these trends for both Internet access and Internet backbone service. Businesses have led residential customers in the demand for data services, but residential demand is currently increasing exponentiall y. Even as business demand for data communications is becoming better understood, residential broadband access demand is still largely unexplored. Cable modems and ADSL appear to be the current residential broadband choices yet demand elasticities and econometric model-based forecasts for these services are not currently available. The responsiveness of customers to price and income changes and customer's perceptions of the tradeoff in product characteristics between cable modems and ADSL is largely unknown. Demand for Internet access is derived from the demand for applications which utilize this access; access is not demanded independent of its usage. Thus it is important to understand Internet applications in order to understand the demand for access.

Author : Michael A. Crew,Paul R. Kleindorfer
Publisher : Springer Science & Business Media
Page : 419 pages
File Size : 42,6 Mb
Release : 2006-07-16
Category : Business & Economics
ISBN : 9780387236377

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Regulatory and Economic Challenges in the Postal and Delivery Sector by Michael A. Crew,Paul R. Kleindorfer Pdf

Worldwide, there is considerable interest in postal and delivery economics. Governments, particularly in the European Union, are examining closely the roles of the two systems and how best to regulate them. This volume brings together 20 essays originally presented at the 12th Conference on Postal and Delivery Economics held in Cork, Ireland in June 2004. Contributors include researchers, practitioners, and senior managers from throughout the world.

Author : William H. Lehr,Lorenzo Pupillo
Publisher : Springer Science & Business Media
Page : 271 pages
File Size : 47,7 Mb
Release : 2013-06-29
Category : Law
ISBN : 9781475735758

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Cyber Policy and Economics in an Internet Age by William H. Lehr,Lorenzo Pupillo Pdf

Cyber Policy and Economics in an Internet Age is a collection of essays from some of the world's best-known experts on Internet public policy. It provides an accessible introduction to critical issues that policymakers, businesspeople, and the public will need to confront in coming years: universal access, appropriate content (pornography, free speech, cultural values), Internet broadcasting, intellectual property, Internet taxation, consumer protection, privacy, fair E-business competition, regulation of the Internet infrastructure, and more. This book is intended for the industry practitioner, analysts, and researchers. It would also be suitable for use in graduate and undergraduate courses, as well as by researchers.

Author : Martin F. Grace,Robert W. Klein,Paul R. Kleindorfer,Michael R. Murray
Publisher : Springer Science & Business Media
Page : 166 pages
File Size : 49,6 Mb
Release : 2003-06-30
Category : Business & Economics
ISBN : 1402074697

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Catastrophe Insurance by Martin F. Grace,Robert W. Klein,Paul R. Kleindorfer,Michael R. Murray Pdf

1. THE PROBLEM OF CATASTROPHE RISK The risk of large losses from natural disasters in the U.S. has significantly increased in recent years, straining private insurance markets and creating troublesome problems for disaster-prone areas. The threat of mega-catastrophes resulting from intense hurricanes or earthquakes striking major population centers has dramatically altered the insurance environment. Estimates of probable maximum losses (PMLs) to insurers from a mega catastrophe striking the U.S. range up to $100 billion depending on the location and intensity of the event (Applied Insurance Research, 2001).1 A severe disaster could have a significant financial impact on the industry (Cummins, Doherty, and Lo, 2002; Insurance Services Office, 1996a). Estimates of industry gross losses from the terrorist attack on September 11, 2001 range from $30 billion to $50 billion, and the attack's effect on insurance markets underscores the need to understand the dynamics of the supply of and the demand for insurance against extreme events, including natural disasters. Increased catastrophe risk poses difficult challenges for insurers, reinsurers, property owners and public officials (Kleindorfer and Kunreuther, 1999). The fundamental dilemma concerns insurers' ability to handle low-probability, high-consequence (LPHC) events, which generates a host of interrelated issues with respect to how the risk of such events are 1 These probable maximum loss (PML) estimates are based on a SOD-year "return" period.