competition, investment and welfare crucially depend on the fine details of implementation. For instance, in the case of joint … ventures, it matters how investment costs are shared and how internal and external access prices are determined. In the case of … market developments ex-post and whether contracts are signed before or after the investment takes place. Generally, many of …

, fiber) access charge that maximizes the incumbent's profit after the investment. On the contrary, when the regulator is free … decision of the incumbent to undertake the investment in fiber deployment is not only affected by its profit after the … investment, but also by the opportunity cost of the investment. This cost is reflected by the profits that the incumbent earns …

We present a duopoly model of strategic capital accumulation in continuous time with uncertainty, such that investment …

the observed investment patterns. Nord Stream's strategic value is huge, easily justifying the high investment cost for …