Changing the rules: Applying a more economic approach to dynamic telecom markets

Jan Krancke, Miguel Vidal and Andreas Fier

23rd European Regional ITS Conference, Vienna 2012 from International Telecommunications Society (ITS)

Abstract: Traditionally, neoclassical economics has been the guiding framework in the development of legislative and regulatory rules in the telecommunication markets. The regulatory perspective has long assumed a static environment. However, telecommunication markets have evolved into extremely dynamic, innovative and technology-driven markets. At the same time, economic theory has moved well beyond simple, static concepts of neo-classical analysis. Inter alia, Schumpeterian Economics, Institutional Economics and modern Industrial Organization provide a broader framework more suitable to analyze modern telecom markets. Drawing on an extended theoretical baseline and on major industry trends, we propose a more comprehensive framework for telecom regulation - the new regulatory pentagon - based on the cornerstones competition, investment and innovation, convergence and platformization, macroeconomics and growth and, lastly, commitment and credibility.

Keywords: Telecommunications; Regulation; Network investments; Platforms; Innovation; Next generation networks (search for similar items in EconPapers)
Date: 2012
New Economics Papers: this item is included in nep-cse, nep-hme and nep-reg
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:itse12:66976

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