Stepping stones and access holidays: the fallacies of regulatory micro-management
AbstractGood intentions are no substitute for sound economic regulation. Using the ‘in-vestment ladder’ as the stick and access holidays as the carrot is hardly an ef-fective way to generate competition. On the contrary, this approach creates a regulatory spiral. What regulators plead for today is in effect an obligatory shar-ing regime for nearly all network elements. However, this splitting up of net-works into their elements by ad hoc regulatory interventions is destroying con-sumer welfare. Instead, rule-based regulation of network-specific market power should be implemented by means of a disaggregated regulatory mandate, limit-ing incentive regulation to essential facilities as a whole. --
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Bibliographic InfoPaper provided by University of Freiburg, Institute for Transport Economics and Regional Policy in its series Discussion Papers with number 123.
Date of creation: 2009
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