Bayesian updating (net neutrality edition)

Remember the Y2K Problem? Looks like we can add “the lack of net neutrality” to the list of terrible worries that were overblown or never materialized. Back in 2006, for example, our libertarian friend and colleague Tyler Cowen supported the policy of net neutrality: “Without neutrality, Comcast and Verizon would use differential pricing schemes to extract more revenue and thus diminish some forms of Net output, including Google, Amazon, ebay, and possibly blogs.” (See here, for a full list of Prof Cowen’s reasons in support of net neutrality.) Today (2017), however, after examining some evidence, Prof Cowen has now concluded that net neutrality is no longer a necessary evil: “we’re at the point where we’ll do just fine without it.” For our part, our position is that antitrust law, not telecommunications law, should be used to police Internet markets.

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Source: @nationaljournal

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