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...

Over the past twenty years we have seen the emergence of an important phenomenon in the practice of modern regulation — cooperative bargaining between the regulator and the regulated over a “bundle” of seemingly unrelated issues. Because of the multiplicity of issues being adjudicated...