MARKETS INSIDE TELECOMMUNICATIONS

A theoretical framework has been established in order to describe open telecommunications service systems. The theory is based on market phe nomena and paves the way for service and network management system des igns based on competitive networks with price-mediated transactions an d agents with uncertain knowledge. Such market approaches will become important as freer market conditions occurring outside networks become absorbed inside networks. The emergence of competitive market-based n etworks may spur various commercial and regulatory paradigm shifts.