Transcription of TELECOMMUNICATIONS REGULATION: AN INTRODUCTION
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TELECOMMUNICATIONS REGULATION: AN INTRODUCTION
TELECOMMUNICATIONS REGULATION: I AN INTRODUCTION Nicholas Economides T HE TELECOMMUNICATIONS sector is going through a significant change. A number of factors contribute and define this change. The first is the rapid technological change in key inputs of TELECOMMUNICATIONS and computer-based services and in complementary goods, which have drama- tically reduced the costs of traditional TELECOMMUNICATIONS services and have made many new services available at reasonable prices. For example, tele- communications cost reductions have made access to the Internet affordable to the general public.
ciency being desirable and a difference between the social and private value of telecommunications) were generally articulated after regulation was already in place. In the 1960s regulators did not let prices of basic local service rise in their attempt to achieve "universal service," that is, to include as many house-
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