Central features of today’s electronic communications markets are complementarities between the different layers of the value chain, substitutability between some applications, network effects in the provision of content and services, two-sided business models that partly involve indirect...

By any measure, the communication sector is important. It is no surprise, then, that the communication sector has attracted the attention of both policy-makers and economists. In this paper, we argue that four characteristics of the networks that deliver communication services make this area of...