service (LMS), 415-416 Katz, Michael, 113n25, 140, 140n24, 362n36, 362n37 local telephone network. See telephone network, Kennett, Mark, 5 regulation of local Key Cite, 389 lock-in, technological, 122n2, 138, 141-143, 186-187, Keyte, James A., 312n93 352, 403 Kingsbury Commitment, 324-325, 328 logical layer, 379 Kirchoff's laws, 5 long-haul communications transport facilities, 409n2 Index Loop Cos, 133, 159 M-ECPR (market Efficient Component Pricing Rule), Loretto and physical vs. regulatory takings, 214-216, 219-220 memoryless arrival process, 97 Lucking-Reilly, David, 17 Metcalfe's law of the telecosm, 120-121 lumpiness, of network capacity, 384 Microsoft, 156 Microwave Communications, Inc. (MCI), 129-130, Madison River Communications, 345, 398, 409 235-236, 326-327 Majoras, Deborah P., 347 microwave transmission, 235-236 managed competition, 354-356 Mill, John Stuart, 70n15 mandated access, 30, 152-153 minimum spanning tree, 43, 43f, 44, 44f Mann-Elkins Act, 234 mixed club, 414n8 marginal benefits, 190 mobile virtual network operators (MVNOs), 258 marginal cost, 190 Modification of Final Judgment, 125n10, 301n59, Margolis, Stephen E., 113n25, 139n23, 140n24 326n107, 329, 329n108, 330-331, 332 market modular network, 157 defining, 190 monopoly effect on network design, 186-187 cable television issues, 349n27 product diversity and, 111n23, 111n24. See also railroad industry issues, 285, 285n12, 286 market-based pricing short- vs. long-run equilibrium, 387, 388f market-based pricing, 8-9, 30, 187, 192-195 supercompetitive pricing by, 130, 136, 145-146, allocated efficiency, 192 148-149. See also natural monopoly allocated efficiency, impeding, 192-193 monopoly rents, 279n38, 280n38 based on external transactions, 195-196 moral hazard problem comparable sales approach, 195 return of the prodigal son, 255 determining market price, 190 in wholesale access, 259 dynamic efficiency, 192 Moulin, Hervé, 5 dynamic efficiency, impeding, 193 multihoming, 417 efficient component pricing rule, 198-200 multiproduct cost functi