Impact of access regulation on investment reconsidered
Why this work is in the frame
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Bibliographic record
Abstract
In regulated industries like electricity, gas, and telecommunications, regulators often require vertically integrated incumbents to share their infrastructure with competitors in a related market. This paper demonstrates that such access regulation may strengthen an incumbent's incentive to invest in infrastructure even if the regulated access price of an input is set at its marginal cost. Specifically, we reconsider Kotakorpi's (2006) model under an alternative circumstance where downstream rivals would be foreclosed from the market without regulation. We find that the access regulation increases investment and improves social welfare under certain conditions. Our main conclusion is robust to an alternative way of modeling consumers' valuation of products. Furthermore, raising the access price above the marginal cost expands the parameters for which the regulation increases investment. Our analysis suggests that access regulation alone does not reduce an incumbent's investment incentive .
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Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.000 | 0.000 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.000 | 0.000 |
| Science and technology studies | 0.000 | 0.000 |
| Scholarly communication | 0.000 | 0.000 |
| Open science | 0.000 | 0.000 |
| Research integrity | 0.000 | 0.000 |
| Insufficient payload (model declined to judge) | 0.000 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from it