The economics of the Internet: Infrastructure and regulation

The purpose of this article is to inform users, regulators, and economists about the basic economics of the Internet, focusing on regulation of its infrastructure. It defines the Internet and describes its development and organization. It analyses the regulatory and competition issues associated with conveyance on the Internet. It then discusses three current puzzles of economic interest. While the article reaches several conclusions, the overall message is that much more work is needed in this area.