Several definitions of regulatory risk are known from the literature. From the perspective of regulatory reform it is important to differentiate between the impact of a given regulatory scheme on the firm's risk exposure and the risk arising from discretionary behavior of regulatory agencies....

The aim of this paper is to show that regulatory risk is due to the discretionary behaviour of regulatory agencies, caused by a too extensive regulatory mandate provided by the legislator. The normative point of reference and a behavioural model of regulatory agencies based on the positive...

The European Commission Recommendation 2007/879/EC has become known as an important innovation towards phasing-out sector-specific regulation of electronic communications. Eleven of the eighteen markets are no longer regarded as needing to be subject to sector-specific ex ante regulation....

Regulatory reforms in European network industries are strongly influenced by legal decisions. The cases considered in this paper not only initiated the liberalization process of the markets for network services but also provided an important signaling function for the remaining regulatory...

Regulatory reforms in European network industries are strongly influenced by legal decisions. The cases considered in this paper not only initiated the liberalization process of the markets for network services but also provided an important signaling function for the remaining regulatory...

In the U.S. paying for priority arrangements between Internet access service providers and Internet application providers to favor some traffic over other traffic is considered unreasonable discrimination. In Europe the focus is on mini-mum traffic quality requirements. It can be shown that...

The aim of this paper is to show that regulatory risk is due to the discretionary behaviour of regulatory agencies, caused by a too extensive regulatory mandate provided by the legislator. The normative point of reference and a behavioural model of regulatory agencies based on the positive...