This paper studies short-run wealth mobility in a heterogeneous agents, incomplete-markets model. Wealth mobility has a “hump-shaped” relationship with the persistence of the stochastic process governing labor income: low when shocks are close to i.i.d. or close to a random walk, and higher...

On March 20, 2011, wireless provider AT&T announced its intention to merge with T-Mobile USA, a competing wireless provider. This article reviews the economic analysis of this proposed acquisition that we carried out for Sprint and explains why the merger would have been anticompetitive. We...

Wired and wireless access networks continue to evolve toward higher-capacity, multi-service systems. Recent wireless broadband networks such as 3G LTE and WiMax provide a general-purpose IP platform with over-the-top services at the application layer, which is similar to the design of wired IP...

Mobile users (or UEs, to use 3GPP terminology) served by small cells in dense urban settings may abruptly experience a significant deterioration in their channel to their serving base stations (BSs) in several scenarios, such as after turning a corner around a tall building, or a sudden knot of...

This report examines the competitive effects of Hybrid Mobile Network Operators (HMNOs) — mobile virtual network operators that rely in large part on self-deployed facilities — on the market for mobile wireless services and recommends that the Federal Communications Commission (FCC) broaden...

Internet of Things (IoT) technologies are of particular interest for telecommunication companies that can significantly affect the interaction of economic agents. As a result of the growth in the number of connected devices, the introduction of cloud services and business applications it became...

We propose a model of Bertrand competition in which consumers choose firms based on prices and qualities. Service quality depends on congestion, which is a function of capacity and output. We first present theoretical properties of the model. Next, we calibrate the model to the wireless industry...