The Federal Communications Commission (FCC) regulates the interstate rates for inmate calling services, and over the years, has made some progress in lowering rates from egregiously high historic levels. However, correctional facilities, in large part, rely on the same provider for both voice...

The model is based on an incumbent serving a franchise area that can be divided into an urban and a rural sub-market. Price is determined by three factors: 1) competition in a (sub-)market; 2) the marginal cost in a (sub-)market; and 3) elasticity of demand in a (sub-)market. Competition clearly...

The right to use US radio frequency spectrum is extremely valuable. Unlike most property rights, licenses to use radio spectrum are granted for limited terms and carry significant restrictions on how the radio spectrum is used. Economic efficiency suggests that existing license rights should be...

This paper investigates whether aligning manager and owner incentives can improve the innovation performance of firms. We find that pay-sensitivity works to align managerial actions to shareholder interests. As managerial wealth becomes more sensitive to the firm's stock price the innovation...