Prices
Dates
Regulation in Modern Telecoms Programme
The course will cover:
Why Regulate?
- Markets and market failure
- The importance of the consumer
- Economic fundamentals: supply and demand; competition and monopoly
- Networks and network effects
- Ensuring “any-to-any” connectivity
- Regulation vs. competition law
Regulatory Institutions and the Process of Regulation
- The law
- National Regulatory Authorities
- Ex ante market reviews
- Licences
- The EU model
The Market Review Process (1): Market Definition
- What is a market?
- What is a “relevant market”?
- Product and Geographic markets
- The Hypothetical Monopolist Test
- Technological and social challenges to market definitions
- Case study: defining the broadband access market
The Market Review Process (2): Market Power
- What is “market power”: EU, US definitions
- How do regulators decide if a firm has market power?
- Market share
- Countervailing Buyer Power
- Other Criteria
- Case study: market power in mobile communications
Abuse of a Dominant Position
- Exclusion and Exploitation
- Anti-competitive practices
- Price and non-price discrimination
- Margin squeeze
- Predatory pricing
- Refusal to supply
- Bundling and Tying
- Ensuring you do not abuse a dominant position
- Spotting abuse by others
The Market Review Process (3): The Regulator’s Power to Impose Remedies
- Powers available to the regulator
- Price controls
- Transparency
- Accounting Separation
- Non-Discrimination
- Access and Local Loop Unbundling
- Functional Separation
- Case study: LLU and separation
Cost Models
- Benchmarks, FAC and LRIC
- Increment costs, “mark ups” and prices
- “Efficient component pricing rule”
- Price floors and ceilings
- Pricing and investment risk
- Pricing unbundled elements
- Mobile call termination
- Externalities and mobile call termination pricing
Regulating Radio Spectrum
- Spectrum management
- Spectrum as a resource
- Spectrum policy and planning
- National frequency allocation tables
- Licensing, authorisation and administration regimes
- The economics of radio spectrum
- Spectrum pricing
- Cost recovery
- Administrative incentive pricing
- Auctions
The Regulatory Function
- Whose responsibility?
- Required skills
- Supporting the business
- Relationship with the regulator
- Choosing your battle