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Free Entry and Social Inefficiency in Radio Broadcasting
Berry, Steven; Waldfogel, Joel - 2021
In theory, free entry can lead to social inefficiency. When new products are substitutes for existing products, the business stolen from incumbents places a wedge between private and social benefits of entry. The business stealing effect can be offset if entry reduces prices or increases...
Persistent link: https://www.econbiz.de/10013248107
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Mandatory Unbundling and Irreversible Investment in Telecom Networks
Pindyck, Robert S. - 2021
This paper addresses the impact on investment incentives of the network sharing arrangements mandated by the Telecommunications Act of 1996, with a focus on the implications of irreversible investment. Although the goal is to promote competition, the sharing rules now in place reduce incentives...
Persistent link: https://www.econbiz.de/10013247857
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Market Provision of Public Goods : The Case of Broadcasting
Anderson, Simon P.; Coate, Stephen - 2021
This paper studies the market provision of a specific type of public good: radio and television broadcasts. Its main focus is to explore the ability of the market to provide broadcasting efficiently in a world in which broadcasters earn revenues by selling time to advertisers and advertisements...
Persistent link: https://www.econbiz.de/10013219689
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The Structure and Conduct of Corporate Lobbying : How Firms Lobby the Federal Communications Commission
de Figueiredo, John M.; Tiller, Emerson H. - 2021
lobbying (internal organization vs. trade association) by firms in administrative agencies. It explores the power and limitations of the collective action theories and transaction cost theories in explaining lobbying. It introduces a dataset of over 900 lobbying contacts cover 101 issues at the...
Persistent link: https://www.econbiz.de/10013247635
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Irreversible Investment, Capital Costs and Productivity Growth : Implications for Telecommunications
Bernstein, Jeffrey I. - 2010
This paper develops a model incorporating costly disinvestment and estimates the associated commitment premium required to invest in telecommunications. Results indicate that the irreversibility premium raises the opportunity cost of capital by 70 percent. This implies an average annual hurdle...
Persistent link: https://www.econbiz.de/10012759928
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Shakeouts and Market Crashes
Barbarino, Alessandro Teresio - 2005
Stock-market crashes tend to follow run-ups in prices. These episodes look like bubbles that gradually inflate and then suddenly burst. We show that such bubbles can form in a Zeira-Rob type of model in which demand size is uncertain. Two conditions are sufficient for this to happen: A declining...
Persistent link: https://www.econbiz.de/10012785164
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Differentiation Strategy and Market Deregulation : Local Telecommunication Entry in the Late 1990s
Greenstein, Shane M.; Mazzeo, Michael J. - 2021
The authors examine the role of differentiation strategies for entry behavior in markets for local telecommunication services in the late 1990s. Whereas the prior literature has used models of interaction among homogenous firms, this research is motivated by the claim of entrants that they...
Persistent link: https://www.econbiz.de/10013243919
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Government Finance in the Wake of Currency Crises
Burnside, A. Craig - 2010
recent currency crises: Korea (1997), Mexico (1994) and Turkey (2001) …
Persistent link: https://www.econbiz.de/10012762806
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An Economic Perspective on Mexico's Nascent Deregulation of Retail Petroleum Markets
Davis, Lucas W. - 2018
Retail petroleum markets in Mexico are on the cusp of a historic deregulation. For decades, all 11,000 gasoline … regulated retail prices. This industry structure is changing, however, as part of Mexico's broader energy reforms aimed at … gasoline and diesel. In this paper, we provide an economic perspective on Mexico's nascent deregulation. Although in many ways …
Persistent link: https://www.econbiz.de/10012920356
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Understanding Financial Crises : A Developing Country Perspective
Mishkin, Frederic S. - 2000
financial crisis, as in Mexico in 1994, to a sharp decline in economic activity after a crisis occurs. It does so by outlining …
Persistent link: https://www.econbiz.de/10012789112