Pricing Regulation under Bypass Competition
分析本地电信运营商面临旁路竞争时的最优定价政策，发现旁路竞争对消费者和纳税人的影响取决于监管者与运营商之间是否允许转移支付。
We analyze optimal pricing policies in local telecommunications subject to bypass for the access of long-distance carriers. We first consider the case of a regulated monopoly that operates the local network and has access to an additional technology (bypass) more efficient for large customers. We then study how competition in bypass affects the optimal nonlinear pricing policy and the resulting allocation. When transfers are allowed between the regulator and the network operator, bypass competition benefits consumers at the expense of the taxpayer, otherwise it benefits large consumers but hurts small ones.