International Symposium sponsored by the National Communications Authority (NCA) of Ghana
A lot of telecommunications regulators are asking: How do we know when there is market power or when new technologies compete with old? Those are the wrong questions, according to PURC Director Mark Jamison. Speaking at an international symposium sponsored by the National Communications Authority (NCA) of Ghana, Dr. Jamison suggested that markets are changing too fast to apply traditional approaches to understanding market power and competition. He suggested that regulators instead focus on factors that could lead markets to naturally be monopolies over multiple generations of products. Since the time between generations is becoming shorter - just a few years in some instances - the question is whether market power will endure over time rather than will it exist for a particular product. Dr. Jamison’s paper "Identifying Market Power in Times of Constant Change," is available on PURC’s web site in the PURC working papers.