In sweeping revisions the US Telecommunications Act of 1996 relaxed rules respecting broadcast TV ownership regulations. In particular Congress directed the Federal Communication Commission (FCC) to conduct a rulemaking on whether the 'duopoly rules' preventing businesses from owning multiple...

The Telecommunications Act of 1996 requires incumbent monopoly phone companies to lease elements of their networks to rivals. An important policy question is whether these unbundled elements are substitutes for entry modes that are more facilities-based. In this article, we estimate demand...

In this paper, we offer a hybrid approach to merger simulation in which we allow rather extensive pre-testing to suggest the 'correct', or most desirable, form for the underlying demand curves. Our application is the merger between the large mobile telephone companies Cingular and AT&T Wireless...

Minority preferences in the broadcasting industry date to the early 1970s when the Federal Communications Commission (FCC) developed programs to encourage minority ownership of radio stations. In this article, one particular justification for minority preferences in radio broadcasting is...

Financial event studies using daily stock returns are frequently used to evaluate antitrust policy and to 'predict' the consequences of mergers. Although there is ample evidence that daily stock returns are not normally distributed, traditional asymptotic results are often used for hypothesis...