Reform of the telecommunications sector has been a worldwide policy trend since the United States, the United Kingdom and Japan drastically reorganized their domestic industries in the early 1980s. Competition has been introduced into a previously monopolistic telecommunications market by many developing as well as industrialized countries. In earlier periods, however, telecommunications monopo...

This book contains a collection of selected readings on the subject of independent regulation. The articles in the book have appeared in reputed journals including the Journal of Law and Economics, Bell Journal of Economics, Review of Economic Studies, Journal of Political Economy, Quarterly Journal of Economics, American Economic Review, Virginia Law Review, Journal of Law, Economics and Organ...

For a graph G and an integer-valued threshold function τ on its vertex set, a dynamic monopoly is a set of vertices of G such that iteratively adding to it vertices u of G that have at least τ(u) neighbors in it eventually yields the vertex set of G. We show that the problem of finding a dynamic monopoly of minimum order can be solved in polynomial time for interval graphs with bounded threshol...

The model shows how a regulated monopolist’s price should change as random cost and demand parameters are revealed. The regulator has a Ramsey-type problem. With a linear tariff a trade-off between allocative efficiency and risk sharing typically exists. The attitudes of the consumer and the firm to both income and price risk determine how the price should move. Sufficient conditions are found ...

This paper deals with the question of the innuence of a monopoly of vertices, seeking to gain the majority in local neighborhoods in a graph. Say that a vertex v is r-controlled by a set of vertices M if the majority of its neighbors at distance r are from M. We ask how large must M be in order to r-monopolize the graph, namely, r-control every vertex. Tight upper and lower bounds are provided ...

Power law degree distribution was shown in many complex networks. However, in most real systems, deviation from power-law behavior is observed in social and economical networks and emergence of giant hubs is obvious in real network structures far from the tail of power law. We propose a model based on the information transparency (transparency means how much the information is obvious to others...

We consider a monopolistic firm producing a good while polluting and using a fossil energy. This firm can adopt a clean technology by incurring an investment cost decreasing exponentially with the adoption date. This clean technology does not pollute and has a lower production cost because it uses a renewable energy. We determine the optimal adoption date for the firm in the case where it is no...

In this paper we study market environments where information is costly to acquire and is also useful to potential competitors. Agents may sell, or buy, reports over the information acquired and choose their trades in the market on the basis of what they learnt. Reports are unverifiable cheap-talk messages hence the quality of the information transmitted depends on the conflicts of interest face...