pole attachment services may also require that utility owners accommodate those Networks in Telecommunications telecommunications or cable TV companies seeking access that is more convenient or less expensive than producing their own system of poles (FCC 1996c). Trans- action costs significantly affect prices and decisions in competitive markets. They may appear intangible to regulators and thus may be difficult for those subject to access requirements to recover. 3. The Efficient Component Pricing Rule As emphasized thus far, pricing access to a network refers to the prices attached to the services generated by the entire network. An alternative regulatory approach to network access grants users the services of particular inputs to the network rather than the output of services from the network as a whole. This regulatory scheme originated with railroad trackage rights, whereby the Interstate Commerce Com- mission gave third-party operators access rights to other railroads' track (49 U.S.C. $ 11102(a)). The scheme continues in the Telecommunications Act of 1996, which mandates a very different type of network access based on the use of the services of individual components of the network rather than the services of the network itself. Thus, this approach focuses on the services of network inputs rather than the outputs. For example, with regard to network components such as the local loop, switches, or other facilities (called "network elements"), the 1996 Act requires that incumbent local exchange carriers (LECs) provide "nondiscriminatory access an unbundled basis at any technically feasible point." Such an access requirement is analogous to requiring that a manufacturer provide another company with the use of a piece of capital equipment, such as a machine tool. Incumbent LECs also have the duty to provide "physical collocation of equipment necessary for interconnec- tion or access to unbundled network elements at the premises of the local exchange carrier" (47 U.S.C. 51(c)(3) & (6)). Collocation corresponds 