Technology Evolution and the Internet

By: Ingo Vogelsang (Editor), Sumit Majumdar (Editor), Martin Cave (Editor)

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Hardcover | 1 December 2004

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The objective of the second volume of the "Handbook of Telecommunications Economics" is to highlight the economic aspects of the evolution of communications technologies beyond the basic fixed-line telephony infrastructure that was covered in Volume 1. In that book, structural, regulatory and competition policy issues with respect to a well-known technology were covered. Yet, technological options have increased in a quantum manner. Fuelled by the creativity of entrepreneurs and policy-makers world wide, it is safe to infer that a process of creative destruction is well underway. Volume 2 covers the major technological developments and tracks the changes in these developments, linking them to the ways that both communications can take place and that institutions and policies can evolve. Written by world leading scholars in a manner that will be appreciated by a wide audience of academics and professionals, the fifteen detailed reviews that make up this book provide an academic perspective on these contemporary changes.

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Non-Fiction Engineering & Technology Electronics & Communications Engineering Communications Engineering & Telecommunications Industry & Industrial Studies Media, Entertainment, Information & Communication Industries Economics

List of Contributors	p. v
Technology Evolution and the Internet: Introduction
Introduction	p. 2
Evolution of Major Alternatives to Traditional Telephone Networks	p. 3
Emerging Network Technologies	p. 3
Bandwagon Effects	p. 5
Platform Competition in Telecommunications	p. 6
Broadband	p. 7
Cable Television	p. 8
Wireless Communications	p. 9
The Internet	p. 12
The Economic Geography of the Internet Infrastructure	p. 12
Economics of the Internet Backbone	p. 15
Pricing Traffic on Interconnected Networks: Issues, Approaches, and Solutions	p. 17
Toward an Economics of the Domain Name System	p. 18
Institutional Considerations	p. 20
Bottlenecks and Bandwagons: Access Policy in the New Telecommunications	p. 21
Antitrust Remedies and the Institutional Design of Regulation	p. 22
Telecommunications and Economic Development	p. 24
Institutional Changes in Emerging Markets: Implications for the Telecommunications Sector	p. 25
Conclusions	p. 27
References	p. 28
Emerging Network Technologies
Introduction	p. 31
Voice, Data, and Entertainment Video Signals	p. 32
Signal Characteristics	p. 32
Network Architectures	p. 35
Traditional Circuit-switched Wireline Architecture: Limitations in the Face of New Demands	p. 39
Evolution of the Traditional Wireline Architecture	p. 43
Interoffice Transport Facilities	p. 43
Interoffice Signaling and the Intelligent Network	p. 44
The Access Network	p. 48
Architecture of the Internet	p. 51
The Network of the Future	p. 56
Evolution of Cable, Wireless, and Satellite Networks	p. 56
Cable Television	p. 56
Wireless	p. 57
Satellite	p. 58
Economic Issues in the Telecommunications Sector Raised by Converging Technologies	p. 60
Increased Possibilities of Competition	p. 61
Growth and Technology	p. 68
Public Policy Puzzles	p. 68
Regulatory Organization	p. 69
Social Goals	p. 70
Competition and Innovation	p. 70
Appendix A	p. 72
References	p. 76
Bandwagon Effects in Telecommunication
Introduction	p. 81
Theory of Bandwagon Demand	p. 82
Equilibrium User Sets	p. 85
Multiple Equlibria	p. 85
Demand as a Function of Price	p. 86
Metcalfe's Law	p. 88
Pricing of Mature Bandwagon Services	p. 89
Internalization of Externalities	p. 90
Budget Constraint	p. 91
Externalities	p. 93
Externalities and Cross Elasticities	p. 93
Nonuniform Pricing	p. 98
Historical Pricing of Telephone Services	p. 99
Promotion of Universal Service	p. 99
Local Usage Charges	p. 100
Local-usage Charges for Calls to Internet Service Providers	p. 101
Sensitivity of Demand to Price	p. 101
Costs of Fixed Termination	p. 102
Costs of Local Usage	p. 103
Bandwagon Effects	p. 103
Comparison with Actual Usage Charges for Calls to ISPs	p. 104
Charges for Fixed-to-mobile Calls	p. 105
Charges Under Calling-party-pays	p. 107
Economically Efficient Mobile Termination Charges	p. 109
Setting Mobile Termination Charges in Practice	p. 111
A Possible Dual Regime	p. 112
Conclusions	p. 113
References	p. 113
Platform Competition in Telecommunications
Introduction	p. 119
Network Industries	p. 120
Direct Networks	p. 120
Virtual (Indirect) Networks	p. 121
Network Effects	p. 121
From Network Effects to Network Externalities	p. 122
Implications for Consumer Demand	p. 123
Expectations and Competition between Networks	p. 124
Battles for Standards, Compatibility and Adoption	p. 127
Standards Wars	p. 128
Strategies in Standards Wars	p. 128
Standard Wars and Efficiency	p. 131
Battles for Compatibility	p. 134
Denying Compatibility	p. 135
Restricting Compatibility of Complementary Products	p. 135
Cooperative Standard Setting	p. 137
Mandated Standards	p. 139
Advantages of Mandated Standards	p. 140
Advantages of Market Standards	p. 141
Mandated Standards in Telecommunications Networks	p. 142
Case Studies	p. 143
Competition in the Mobile Cellular Industry	p. 143
Instant Messaging	p. 145
The 56K Modem Standards War	p. 146
Satellite Vs. Cable Television (CATV)	p. 147
DVD Vs. DIVX Standards War	p. 148
Modeling Issues	p. 149
References	p. 150
Broadband Communications
The Technology	p. 156
Digital Subscriber Line	p. 156
Cable Modems	p. 159
Fiber to the Home	p. 161
Wireless Access	p. 161
Broadband Diffusion	p. 163
Cross Country Comparisons	p. 163
Comparing Broadband Diffusion with Other 'Breakthrough' Technologies	p. 165
The Economics of Broadband Supply	p. 166
Cable Modems, DSL, and Fixed Wireless	p. 166
Fiber to the Home	p. 167
The Weak Dominance of Cable	p. 169
The Demand for Broadband	p. 169
Network and Bandwagon Effects	p. 171
Internalizing Network Externalities	p. 171
Network Effects and First-mover Advantages	p. 172
The Broadband 'Bandwagon'	p. 173
Consumer Value after the Bandwagon	p. 174
Regulation and Competition	p. 174
Platform Competition	p. 175
Interconnection and Network Unbundling	p. 177
Cable Open Access	p. 184
Subsidies, Universal Service, and the 'Digital Divide'	p. 186
Conclusions	p. 186
References	p. 187
Cable Television
Spectrum in a Tube	p. 192
Emergence of Cable Television	p. 194
Cable Television's Rise to Dominance	p. 198
Basic Structure of the Cable Television Industry	p. 202
Basic Structure of a Cable Television System	p. 205
Market Power in Local Cable Television Service	p. 206
Defining Cable's Market Power	p. 208
Pricing Power	p. 210
Cable Asset Valuation	p. 213
Entry Barriers	p. 214
Intermodal Competition	p. 218
Regulation of Rates	p. 221
Deregulation in the 1984 Cable Act	p. 221
Reregulation in the 1992 Cable Act	p. 222
Deregulation Pursuant to the 1996 Telecommunications Act	p. 225
Cable Television Programming	p. 226
Monopsony Power	p. 227
Vertical Integration	p. 229
Program Access Rules	p. 231
Carriage of Broadcast TV Signals	p. 232
Common Carrier Video	p. 233
The Evolution of Cable	p. 235
References	p. 235
Wireless Communications
Introduction	p. 243
Background	p. 244
Spectrum Allocation	p. 244
The Range of Wireless Services	p. 245
The Rise of Mobile Telephony	p. 246
Economic Issues in Wireless Communications	p. 248
Spectrum as a Scarce Resource	p. 248
Complementarities in Spectrum Use	p. 251
Standards	p. 253
Diffusion and Demand for Mobile Telephony	p. 256
Diffusion	p. 256
The Relationship between Fixed and Mobile Telephony	p. 257
Costs	p. 259
Regulation and Competition	p. 259
Limitations of Wireless Competition	p. 259
Access Pricing and Caller vs. Receiver Pays	p. 272
Conclusions	p. 280
References	p. 281
The Economic Geography of Internet Infrastructure in the United States
Introduction	p. 289
Dispersion and Concentration of Internet Infrastructure	p. 290
What is Internet Infrastructure?	p. 291
The Origins of Internet Infrastructure	p. 292
Scale and Urban Location	p. 295
Scale and Standardization	p. 299
Summary	p. 303
The Spread of Commercial Internet Access	p. 303
The Activity of Commercial Suppliers	p. 304
Government Policy Encouraged a Diverse Geographic Supply	p. 306
The Founding of Commercial Organizations	p. 308
Coverage by Dial-up Providers	p. 310
Organizational Strategy and Coverage	p. 313
Variety and Quality Over Geography	p. 315
Summary	p. 318
The Location of Network Backbone	p. 318
The Geographic Features of the Backbone	p. 319
The Industrial Organization of the Commercial Backbone	p. 320
Interpreting Networking Practices	p. 324
Interpreting the Geographic Dispersion of Capacity	p. 326
The Economic Interpretation of Redundancy	p. 331
Boom Leads to Bust in the Backbone	p. 334
Interpreting a Decade of Building	p. 335
Summary	p. 336
The Growth of Broadband	p. 337
Why Broadband Favors Urban Areas	p. 337
The Empirical Evidence	p. 339
The Regulation of Broadband Suppliers	p. 341
Summary	p. 345
The Location of Business Internet Infrastructure Services	p. 345
The Geography of Private Investment in IT-overview	p. 346
Empirical Evidence on Domain Names	p. 348
Evidence on Urban and Rural Business Use of Internet Technology	p. 351
Local Internet and Information Services	p. 355
Summary	p. 356
Summaries of Answers to Motivating Questions	p. 357
Why did Near-geographic Ubiquity Arise after Commercialization?	p. 358
Why did Market Forces Encourage Extensive Growth?	p. 358
Has the Internet Diffused Disproportionately to Urban Areas?	p. 359
Is the Internet a Substitute or a Complement for Urban Agglomeration?	p. 360
Which Policies Mattered? Were these Effects the Intended or Unintended Consequences?	p. 361
Are there Lessons for Other Countries?	p. 363
References	p. 364
The Economics of the Internet Backbone
Competition among Internet Backbone Service Providers	p. 375
Internet Backbone Services	p. 375
Interconnection	p. 375
The Transit and Peering Payment Methods for Connectivity	p. 379
Conduct of Internet Backbone Service Providers	p. 382
Structural Conditions for Internet Backbone Services; Negligible Barrier to Entry and Expansion	p. 385
The Markets for Raw Transport Capacity and Other Inputs to Internet Transport Services	p. 385
Ease of Expansion and Entry	p. 386
Public Standards and Protocols on the Internet	p. 386
Potential for Anticompetitive Behavior on the Internet Backbone	p. 388
Network Externalities and the Internet	p. 388
Procompetitive Consequences of Network Externalities	p. 390
Conditions Under Which Network Externalities may Inhibit Competition	p. 391
Network Externalities and Competition on the Internet	p. 392
Conditions Necessary for the Creation of Bottlenecks Fail on the Internet	p. 392
Bottlenecks Such as the Ones of the Local Exchange Telecommunications Network do Not Exist on the Internet	p. 393
Strategies that a Large IBP Might Pursue	p. 394
Raising the Price of Transport	p. 394
Discriminatory Price Increases Directed Simultaneously against All Backbone Rivals	p. 397
Raising Rivals' Costs and Degrading Connectivity	p. 398
Conclusions	p. 407
Appendix	p. 407
References	p. 410
Pricing Traffic on Interconnected Networks: Issues, Approaches, and Solutions
Introduction	p. 414
Congestion, Overuse, and Economic Implications	p. 416
Approaches to Deal with Congestion in Computing Systems	p. 416
Economic Implications: Tragedy of the Commons Problem	p. 418
Pricing Approaches for the Internet Traffic	p. 420
A Generic Model of Priority Pricing for Data Networks	p. 422
Model Description	p. 423
Simulation and Results	p. 425
Future Issues and Challenges	p. 431
Overlay Networks	p. 431
Multihoming and Smart Routing	p. 433
Channelling	p. 434
Conclusions	p. 435
References	p. 436
Toward an Economics of the Domain Name System
Introduction	p. 443
Technical Description of DNS	p. 447
The Name Space and Name Assignment	p. 447
Resolution, Name Servers, and BIND Software	p. 448
The Root Servers	p. 449
The Demand for Domain Names	p. 450
Demand for Technical Functions	p. 450
Demand for Semantic Functions	p. 455
Domain Name Supply	p. 461
Root Servers	p. 461
Registries and Registrars	p. 465
The Secondary Market	p. 469
Economic Policy Issues	p. 473
New TLDs: Expanding Supply	p. 474
Domain Name-Trademark Conflicts	p. 477
Competition Policy	p. 479
WHOIS and Privacy Policy	p. 481
Conclusions	p. 483
References	p. 483
Bottlenecks and Bandwagons: Access Policy in the New Telecommunications
Introduction	p. 488
Essential Facilities (Bottleneck Access)	p. 490
Network Effects and Interconnection (Bandwagon Access)	p. 495
Network Effects and Corporate Strategy	p. 499
Is Tipping Irrevocable? The 'Serial Monopoly' Hypothesis	p. 506
The FCC's Instant Messaging Condition in the AOL-Time Warner Merger	p. 511
Lessons of the AOL-Time Warner Case	p. 513
Proactive vs. Reactive	p. 513
Serial Monopoly and the New Economy	p. 514
Conclusions	p. 515
References	p. 515
European and American Approaches to Antitrust Remedies and the Institutional Design of Regulation in Telecommunications
Introduction	p. 518
The U.S. Model	p. 520
Ex Ante, Ex Post, and Hybrid Remedies	p. 520
Antitrust as a New Form of Ex Ante Regulation	p. 527
The Shifting Balance of Influence between Antitrust and Sector-specific Regulation: Telecommunications Law's Potential to Shape Antitrustremedies in Network Industries	p. 528
The U.S. Trade Representative as Regulator	p. 532
The EC Model	p. 534
Ex Ante, Ex Post, and Hybrid Remedies	p. 535
Antitrust as a New Form of Regulation	p. 540
The Shifting Balance of Influence between Antitrust and Sector-specific Regulation: Competition Law Concepts Penetrating Sector-specific Regulation	p. 541
DG Trade as a Regulator?	p. 547
Conclusions	p. 548
References	p. 550
Telecommunications and Economic Development
Introduction	p. 557
Development Significance of Telecommunications	p. 559
Evolution of Policies and Markets	p. 561
Directions of Change	p. 562
Entry and Competition	p. 564
Private Sector Participation	p. 566
Policy and Regulation	p. 570
Results	p. 571
Investment	p. 572
Growth, Productivity, and Prices	p. 575
New Services-Mobile and the Internet	p. 577
Lessons From Reform	p. 579
Competition as Driver of Change	p. 579
Narrowing the Development Gap	p. 582
Designing Attractive Business Opportunities	p. 585
Developing Regulatory Capability	p. 589
Managing the Reform Process	p. 593
The Internet	p. 594
Evolution of the Internet in the Developing World	p. 595
Internet Policy Issues for Developing Countries	p. 599
Information Technology and International Trade	p. 603
Economic Opportunity and the Future	p. 606
E-commerce	p. 606
E-learning	p. 608
E-government	p. 609
Knowledge Societies and E-readiness	p. 610
The Path Ahead	p. 612
The Unfinished Reform Agenda	p. 614
Universal Access	p. 615
References	p. 616
Institutional Changes in Emerging Markets: Implications for the Telecommunications Sector
Introduction	p. 622
The Utilities' Problem	p. 622
The Political Profitability of Expropriation	p. 625
The Implications of Government Opportunism	p. 625
Sources of Regulatory Commitment	p. 627
Institutional Endowment	p. 627
A Tale of Two Countries	p. 630
Regulatory Governance: Administrative Process with Judicial Review	p. 635
Why Judicial Review?	p. 638
Why Delegate to Independent Agencies	p. 642
Commitment in Unified Government Systems	p. 644
Contract-based Regulation	p. 645
Adapting Contract-based Regulation to Unexpected Shocks: Renegotiation	p. 650
Final Comments	p. 652
References	p. 652
Subject Index	p. 657
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Technology Evolution and the Internet

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