wisdom of the crowd Archives


Regulation by the crowd

Posted on February 5, 2009  /  0 Comments

In conventional thinking, complex industries with oligopoly characteristsics such as telecom require regulation by specialized agencies.  Interconnection must be ensured; spectrum must be managed, etc.  In addition, information asymmetries between operators and customers necessitate a degree of regulation of matters such as quality of service, billing accuracy and truth in advertising.  For example, the Telecom Regulatory Commission of Sri Lanka has had a consumer relation unit since 1999. However, many regulators do not perform their functions satisfactorily.