The AOL-Time Warner merger, announced in January 2000, was and still is the largest merger ever consummated. The merger plan was submitted to the FTC for antitrust review and to the FCC for license transfer review. The FTC approved the merger with conditions relating to open access. The FCC...

The regulatory net neutrality cure will certainly be worse than the imagined disease it is meant to treat. Gerald Faulhaber (Wharton, Univ. of Pa.)

Digital markets worldwide are in rapid flux. The Internet and World Wide Web have traditionally evolved in a largely deregulated environment, but recently governments have shown great interest in this rapidly developing sector and are imposing regulations for a variety of reasons that are...

Digital markets worldwide are in rapid flux. The Internet and World Wide Web have traditionally evolved in a largely deregulated environment, but recently governments have shown great interest in this rapidly developing sector and are imposing regulations for a variety of reasons that are...

This paper describes a structural model which incorporates bank decisions on productivity, risk-taking and customer satisfaction into an equilibrium model of banking markets for 219 large U.S. banks, between 1984 and 1992. The cost of bank risk is assessed using banks stock market betas as a...