This article presents the difficulties associated with the implementation of the regulatory goal of promoting investment and innovation within the area of sector specific regulation in telecoms. The encouragement of efficient investment is one of the major goals reflected in the EC and domestic...

The difference between permanent legislation and temporary legislation is the default rule of termination: permanent legislation governs perpetually, while temporary legislation governs for a limited time. Recent literature on legislative timing rules considers the effect of temporary...

commission has reviewed all the guarantees, loans and financial interventions provided by the Dutch government. This review shows that policy makers often perceive these measures as a “free lunch”, do-not-ask (sufficiently high) premiums and do-not-build reserves to cover potential damages....

We consider a moral hazard economy in banks and production to study how incentives for risk taking are affected by the quality of supervision. We show that low interest rates may generate excessive risk taking. Because of a pecuniary externality, the market equilibrium may not be optimal and...

This paper analyzes the incentives to invest in Next Generation Access Networks (NGA) in a framework with horizontal product differentiation with price competition between an investing and an access seeking firm. Given uncertainty about the success of the NGA, I compare regulatory regimes with...