Abstract: Telecommunications switches route calls in accordance with economic incentives (e.g., least cost routing) resulting from a bidding process between participating telecommunications carriers (Carriers) by operation of a central processor, a computer referred to as a bidding moderator (Moderator). Each of the Carriers bidding for traffic informs the Moderator of the rate it is willing to charge (or other economic incentive it is willing to offer) for service at some particular time between two specific switching points defining a route segment in one or more telecommunications networks, for example, from an intermediate switching point on one telecommunications network to a terminating local exchange switch on another network. This "bid" rate may be lower than that Carrier's established rate for any of several reasons (e.g., the Carrier has excess capacity on that route segment at that time). The Carrier may change its bids as often as it likes as traffic patterns change.