The prevailing trend in the US telecommunications industry is toward industry convergence and market competition. This paper examines possible scenarios for developments in the telecommunications market as a result of further industry convergence and changes in the political and regulatory...

This paper develops a signaling theory where brain drain as well as the opposite of brain drain, a phenomenon we call “lame-drain” can result. In particular, we assume there are three types of agents according to their intrinsic abilities; education (with endogenous intensity) consists of...