ter stage in the debates about network neutrality. Based on our analysis, this is the type of access to networks in which antitrust and regulatory intervention is the least justified. The Regulation of Last-Mile Broadband Networks Telecommunications has moved from traditional analog voice service to high- speed digital transmission, referred to as broadband. The explosion of new forms of transmission and new types of content (data, audio, video), has changed the debate over access to networks. Under the general umbrella of "network neutrality," advocates of mandatory access argue for extensive regulation of prices and products. The Supreme Court's recent decision in National Cable & Telecommunications Association V. Brand X Internet Services cleared the way for the FCC to resolve how to fit the leading broadband technologies, such as cable modems and digital subscriber line (DSL) services, into the existing regulatory regime (545 U.S. 967 (2005)). The fact that Congress largely failed to take the Internet into consideration when enacting the Telecommunications Act of 1996 has left policymakers with little definitive guidance. 1 Regulatory decisionmaking is further complicated by the dynamism of the technological environment. The demands that end users are placing on the Internet are changing rapidly, as evidenced by the increasing popu- larity of bandwidth-intensive applications, such as streaming media, peer-to-peer downloads, and virtual worlds. In the meantime, a host of new communications platforms are waiting in the wings, such as third-generation mobile communica- tions devices (3G) and wireless hotspots employing WiFi technology. A. The History of Last-Mile Broadband Regulation Cable modems and DSL represent the two leading platforms for last-mile broadband service (FCC 2008b). 2 Cable modem service generally provides more bandwidth than DSL, but requires end users to share bandwidth in ways that make the network For example, Werbach notes (2002, p. 42) that "[t]he 1996 Act simply did not contemplate the r