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Net Neutrality Regulation: The Economic Evidence, Vernon Smith, Jerry Brito, Martin Cave, Robert Crandall, Larry Darby, Jeffrey Eisenbach, Jerry Ellig, Henry Ergas, David Farber, Gerald Faulhaber, Robert Hahn, Alfred Kahn, Wayne Leighton, Robert Litan, Glen Robinson, Hal Singer, William Taylor, Timothy Tardiff, Leonard Waverman, Dennis Weisman

Vernon L. Smith

In the authors' shared opinion, the economic evidence does not support the regulations proposed in the Commission’s Notice of Proposed Rulemaking Regarding Preserving the Open Internet and Broadband Industry Practices (the “NPRM”). To the contrary, the economic evidence provides no support for the existence of market failure sufficient to warrant ex ante regulation of the type proposed by the Commission, and strongly suggests that the regulations, if adopted, would reduce consumer welfare in both the short and long run. To the extent the types of conduct addressed in the NPRM may, in isolated circumstances, have the potential to harm competition …