A mechanism giving a finite value to the speed of light, and some   experimental consequences
  We admit that the vacuum is not empty but is filled with continuously appearing and disappearing virtual fermion pairs. We show that if we simply model the propagation of the photon in vacuum as a series of transient captures within the virtual pairs, we can derive the finite light velocity $c$ as the average delay on the photon propagation. We then show that the vacuum permittivity $\epsilon_0$ and permeability $\mu_0$ originate from the polarization and the magnetization of the virtual fermions pairs. Since the transit time of a photon is a statistical process within this model, we expect it to be fluctuating. We discuss experimental tests of this prediction. We also study vacuum saturation effects under high photon density conditions. 
M. Urban (LAL), F. Couchot (LAL), X. Sarazin (LAL)
physics.gen-ph