the entire infrastructure. An open access policy raises welfare, but may make the project non-viable since funding must be … provided by capital contributions and access charges. The infrastructure owner can ask the incumbent for a higher capital … monopoly franchising, while a threat of regulatory capture creates an open-access presumption. …

. In a model that captures the technological conditions operating in industries such as telephony, gas, rail, where access … to a distribution network is essential to the ability to compete, we show that this is not the case. Instead, the access …