NGA , investment under uncertainty , access price rule , telecommunications
Abstract:
Contractual and regulatory provisions for access affect incentives to invest in an upgraded
network and, in particular, a next-generation access network. Investment decisions
are made under uncertainty and have to be made over time. This papers provides
a framework for taking uncertainty, risk aversion, and the timing of investment explicitly
into account. First, it evaluates various access price policies in a framework in which the
incremental value over the legacy network is uncertain. Second, introducing risk aversion,
the access price structure turns out to be critical for the risk profile of the investing
telecom operator and of the access-seeking alternative operator. Third, some implications
of the time structure of access payments are derived.
Das Dokument wird vom Publikationsserver der Universitätsbibliothek Mannheim bereitgestellt.
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