Beyond Reference Markets: Rethinking Electronic Communications Regulation, by Juan Delgado
Published in “Regulatory and Economic Policy in Telecommunications” (No. 8 April 13)
A decade ago, electronic communications regulation was redesigned in Europe incorporating competition law principles. However, while European competition law has evolved from a form-based approach to an impact-based approach, electronic communications regulation remains mostly based on market definition and structural market indicators. The regulatory design should be driven by its impact on welfare balancing the costs and benefits of regulation. A new regulatory approach focused on increasing consumer welfare through the identification of bottlenecks and the promotion of competition and innovation is key to develop the endless possibilities of the electronic communications industry.