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...

We analyse a simple model of dynamic moral hazard in which there is a clear and tractable trade-off; between static and dynamic incentives. In our model, a principal wants an agent to complete a project. The agent undertakes unobservable effort, which affects in each period the probability that...