Distorted access regulation with strategic investments: Regulatory non-commitment and spillovers revisited

► We reexamine the properties of access regulation and infrastructure investment. ► We focus on regulatory non-commitment and spillovers through access. ► When the degree of spillover is small, the access charge is distorted. ► Small spillover and high investment cost induce a high access charge. ► Small spillover and low investment cost induce a low access charge.