This conference, held at George Mason University in Virginia on 7 May 2009, focused on the issue of online markets vs. traditional markets. An expert faculty, including NERA Special Consultant Dr. Michael Baye, addressed the economics of online markets and their regulation, in particular by assessing whether and how online markets differ from traditional markets. Dr. Baye served as moderator in a panel session entitled "Economic Forces at Work in Online and Traditional Markets." The panel examined a number of topics, including the economics of reputational information and the role of exclusive spectrum rights in wireless network innovations.