This paper presents results from a calibrated welfare model of the UK mobile telephony market which includes many mobile networks; calls to and from the fixed network; networkbased price discrimination; and call externalities. The analysis focuses on the short-run effects of adopting lower...

In Europe Mobile Termination Rates (MTR) are being subject to reduction to reflect actual costs, marginal or incremental, of calls termination in mobiles nets. This is considered as an intermediate step to adopt the “bill-and-keep” system. Other countries around the globe, such as New...

We present a calibrated model of the UK mobile telephony market with four mobile networks; calls to and from the fixed network; network-based price discrimination; and call externalities. Our results show that reducing mobile termination rates broadly in line with the recent European Commission...

This paper presents results from a calibrated welfare model of the UK mobile telephony market which includes many mobile networks; calls to and from the fixed network; networkbased price discrimination; and call externalities. The analysis focuses on the short-run effects of adopting lower...

Greif, Milgrom and Weingast (1994) argued that the ability of the merchant guilds to encourage trade expansion required an internal mechanism to enforce compliance to trade embargoes, otherwise credible incentives for "embargo breaking" would have rendered them ine¤ectual. We show that...

The jury is still out on the need for government-organized capacity markets in order to achieve efficient long-run investments in electricity generation. When new capacity markets are introduced, however, it is important that they are well designed and take account of existing experience and...