Download or read book Competition and Investment in Telecommunications and Media Markets written by Roberto Balmer and published by Roberto Balmer. This book was released on 2014-01-20 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book reviews the economic literature on cooperative investment in next generation broadband networks and geographic regulation. It additionally proposes innovative models for estimating the level of competition and investment in the fixed telephony market and the retail market for newspapers. In doing so, it addresses two hotly debated issues in business strategy and economic policy: the determinants of investment and competition and the impacts of innovative investment schemes. The first chapter reviews the literature on new cooperative investment schemes in next generation broadband networks and geographic regulation. The effects on competition, investment and welfare of such schemes crucially depend on the details of the agreements. For instance, in the case of joint-ventures, the manner in which investment costs are shared and internal and external access prices are determined significantly impacts the outcome. In the case of long-term access agreements, it is essential to consider how access tariffs are structured, whether they can adapt to market developments ex-post, and whether contracts are signed before or after the investment takes place. Generally, many of these agreements allow for some extent of risk sharing, offering the possibility of increasing investment incentives when firms are not risk neutral. It is suggested that regulators consider introducing regulated co-investment agreements complementing current regulation, in addition to considering geographically segmented access prices. The second chapter assesses entry and competition in local retail markets for newspapers. It builds on the new empirical industrial organisation (NEIO) literature to estimate sustainable coverage and competitive effects of entry for Swiss newspaper sellers which sell composite goods (newspapers, food and other goods of daily use). An entry threshold ratio methodology is used, allowing for model estimation even when the range of products under examination is not exactly defined and when price and quantity data are not available. It is found that under duopoly prices the market size of a Commune required for single firm entry is about twice as large as under monopoly prices. A clear and quantifiable trade-off between competition and investment therefore exists. Moreover, it is found that while a second entrant in this market strongly increases competition, further entry doesn’t have a significant additional competitive effect. From a welfare perspective, therefore, it can be stated that “two is enough” to ensure competition in this market. In the third chapter, competition and market strategies in the Swiss fixed telephony market are assessed. A market model based on a generalised version of the traditional “dominant firm – competitive fringe” model, is developed. Direct estimation of the incumbent’s intertemporal residual demand function is performed by instrumenting the market price with incumbent-specific cost shifting variables, as well as other variables. The concrete estimates show that residual retail demand for voice traffic is highly inelastic. Such a level of elasticity is only compatible with a profit maximising incumbent in the case of largely competitive conduct. It is therefore found that the Swiss incumbent acted largely competitively, and that current regulated telephony retail price caps could not be justified on the basis of a lack of competition.
Download or read book Entry Investment and Competition in Telecommunications and Media Markets written by Roberto E. Balmer and published by . This book was released on 2013 with total page 147 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Ph.D. thesis builds ...
Download or read book The Governance of Telecom Markets written by Antonio Manganelli and published by Springer Nature. This book was released on 2020-11-03 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a critical comprehensive summary of the coevolution of telecom markets, rules and public institutions over the last 25 years, focusing on the challenges that regulators and policy makers have been facing. Even if the perspective of the book is European (as the EU regulatory framework is examined), most of the economic and institutional issues addressed are common to all telecom markets in advanced economies. The book addresses some traditional fundamental topics in the telecom regulation literature, as well as some hot-button topics in the current policy debate, e.g., ultrafast broadband and 5G networks, the relationship between investments and competition, the sector digitalisation and the role of OTTs. All these are relevant to students, researchers, and policy makers interested to get a sound understanding of the sector, its many dimensions and coevolutionary patterns.
Download or read book Telecommunications in Transition written by United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Telecommunications, Consumer Protection, and Finance and published by . This book was released on 1981 with total page 454 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Introduction of Competition in Telecommunications Markets written by Nestor Bruno and published by . This book was released on 2018 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the first international cases of telecommunication regulation that sought that incumbent firms shared their economies of scope and their network economies with their competitors was the one that took place in the United States, through the so-called “Telecomm Act” (1996) and its corresponding implementation through the Federal Communications Commission (FCC) in that country. The paradigm behind that scheme is the belief that reduction in entry barriers can imply an increase in market entry, since competitors that do not have to sink costs in building new networks can be able to compete to gain market share. Once those competitors obtain that market share, therefore, they will be able to build their own networks, and hence they will increase market capacity and change market structure.This paper seeks to reconcile the empirical evidence about the project implemented by the FCC with a conceptual model of competition in telecommunications with is different from the one pursued by the US regulator between 1996 and 2005. It is shown that industry concentration stays high despite the introduction of competition in the incumbent's network, due to the existence of sunk costs with are endogenous to the industry. Those sunk costs, moreover, can also provoke distortions in prices and in investment decisions.
Download or read book Towards Competition in Network Industries written by Paul J.J. Welfens and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 574 pages. Available in PDF, EPUB and Kindle. Book excerpt: Competition in network industries faces particular problems which are analyzed from both a theoretical and policy perspective. Issues of vertical integration, deregulation and privatization are covered. While competition and privatization are rapidly unfolding in telecommunications in Western and Eastern Europe, energy and railway transportation represent sectors of more gradual liberalization. The different market characteristics of telecommunications, energy and transportation raise consistency problems in the fields of deregulation, investment strategies and internationalization. While transformation policies create opportunities for liberalization in Eastern Europe and Russia the latter shows critical problems in ending monopoly and state ownership. Network industries could be subject to competition and promise major investment opportunities plus consumer benefits.
Download or read book Demand for Communications Services Insights and Perspectives written by James Alleman and published by Springer Science & Business Media. This book was released on 2013-10-07 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume grew out of a conference organized by James Alleman and Paul Rappoport, conducted on October 10, 2011 in Jackson Hole, Wyoming, in honor of the work of Lester D. Taylor, whose pioneering work in demand and market analysis has had profound implications on research across a wide spectrum of industries. In his Prologue, Eli M. Noam notes that demand analysis in the information sector must recognize the “public good” characteristics of media products and networks, while taking into account the effects of interdependent user behavior; the strong cross-elasticities in a market; as well as the phenomenon of supply creating its own demand. The second Prologue, by Timothy Tardiff and Daniel Levy, focuses more specifically on Taylor’s body of work, in particular its practical applications and usefulness in analyses of, and practices within, the Information and Communications Technology (ICT) sector (known in Europe and elsewhere as the Telecommunications, Media, and Technology (TMT) sector). The remainder of the book is organized into four parts: Advances in Theory; Empirical Applications; Evidence-Based Policy Applications; and a final Conclusion. The book closes with an Appendix by Sharon Levin and Stanford Levin detailing Taylor’s contributions using bibliometrics. Not only featuring chapters from distinguished scholars in economics, applied sciences, and technology, this volume includes two contributions directly from Lester Taylor, providing unique insight into economics from a lifetime in the field. “What a worthy book! Every applied researcher in communications encounters Lester Taylor’s work. Many empirical exercises in communications can trace their roots to Taylor’s pioneering research and his thoughtful leadership. This book assembles an impressive set of contributors and contributions to honor Taylor. No surprise, the collection extends far and wide into many of the core topics of communications and media markets. The emphasis is where it should be–on important and novel research questions informed by useful data. —Shane Greenstein, Professor of Management and Strategy, Kellogg School of Management, Northwestern University “For more than 40 years, Lester Taylor has been a leader in the application of consumer modeling, econometric techniques and microeconomic data to understand residential and business user behavior in telecommunications markets. During that time, he inspired a cadre of students and colleagues who applied this potent combination to address critical corporate and regulatory issues arising in the telecommunications sector. This volume collects the recent product of many of these same researchers and several other devotees who go beyond empirical analysis of fixed line service by extending Prof. Taylor’s approach to the next wave of services and technologies. These contributions, including two new papers by Prof. Taylor, offer an opportunity for the next generation to learn from his work as it grapples with the pressing issues of consumer demand in the rapidly evolving digital economy.” — Glenn Woroch, Adjunct Professor of Economics, University of California, Berkeley
Download or read book The Transnational Media Corporation written by Richard A. Gershon and published by Routledge. This book was released on 2013-10-18 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: The combination of international privatization trends coupled with advancements in computer and communication technology have transformed the conduct of international business. The result has been a consolidation of players in all aspects of business, including banking, aviation, insurance, and mass media. This book discusses one such player -- the Transnational Media Corporation (TNMC). Long remembered as a time of rapid growth and expansion for international business, the decades of the '80s and '90s were a period characterized by major mergers and acquisitions. Good examples of this include Time Inc.'s 1989 merger with Warner Communication for $11.2 billion and Walt Disney's 1996 purchase of Cap Cities/ABC for $19.5 billion. According to the late Steven Ross, former co-chief executive officer of Time-Warner, "In order to succeed in business today, you must be in all the major markets of the world." TNMCs have indeed become salient features of today's global economic landscape. This volume asks the most basic of questions: What makes a global corporation global? And, to what extent do TNMCs affect the marketplace of ideas? This book, then, is intended for the business professional or student who is interested in understanding the business and operations of transnational media. Part I examines the regulatory and economic reasons prompting the formation of a TNMC. It seeks to explain why such companies engage in direct foreign investment and further considers how transnational operations affect the development of new media products in terms of cost, quality, and availability. The TNMC is unique among global corporations given the fact that its primary business is the creation of information and entertainment products. This book also examines the highly complex relationship between TNMCs and the host nations in which they operate. It further considers such specific issues as cultural trespass, transborder data flow, and the effects of transnational media on the marketplace of ideas. Part II of this volume provides a series of case study analyses of five leading TNMCs including Time-Warner Inc., Sony Inc., Bertelsmann AG, the Walt Disney Company, and News Corporation Ltd. Specific attention is given to the history, business philosophy, and economic performance of each of these companies.
Download or read book Markets and the Media written by M. E. Beesley and published by . This book was released on 1996 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Video Media Competition written by Eli M. Noam and published by Columbia University Press. This book was released on 1985 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Economics of Digital Markets written by Gary Madden and published by Edward Elgar Publishing. This book was released on 2009 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: This innovative book provides state-of-the-art analyses of the current condition of the economics of digital markets. The most recent developments in web technology are evolving, creating an increasingly deregulated environment. Much of the impetus for liberalisation is in response to multimedia convergence and the globalisation of markets, leading to uncertainties in the sector. Gary Madden and Russel Cooper examine the microeconomics of platform structure and firm competition within and between digital markets, modern theoretical treatments of regulatory intervention in digital markets and the consideration of forward-looking experimental analysis of demand for yet-to-be provided services. Bringing together a highly focused group of eminent scholars, this book will appeal to academics, postgraduate students, and both international treaty and national government agencies as well as market analysts.
Download or read book Competition and Chaos written by Robert W. Crandall and published by Rowman & Littlefield. This book was released on 2005-04-26 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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
Download or read book Competition in the U S Telecommunications Market written by Mark D. Director and published by . This book was released on 1991 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book On Competition and Regulation in Media and Telecommunications Markets written by Torben Stühmeier and published by . This book was released on 2011 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Competition and Regulation in Telecommunications written by J. Gregory Sidak and published by Springer Science & Business Media. This book was released on 2001 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: Because the European and American Telecommunications markets are becoming more intertwined each day, the issues addressed in this volume will be topical to the business, government, and academic communities for some time.".
Download or read book Consumers Competition and Consolidation in the Video and Broadband Market written by United States. Congress. Senate. Committee on Commerce, Science, and Transportation. Subcommittee on Communications, Technology, and the Internet and published by . This book was released on 2011 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Antitrust and Competition Issues in the Cable and Video Markets written by United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Antitrust, Business Rights, and Competition and published by . This book was released on 1998 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: