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Entry-License Tax: Stackelberg
versus Cournot |
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Susumu
Cato and Toshihiro Matsumura |
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Working paper |
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Susumu
Cato |
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Junichiro Ishida¡BSusumu Cato¡B¶ÀÂE¡BªL¿P²Q¡B´^¥¿¯E¡B³¯ª÷²±¡B¤Bi¤¯¡B§d©|«Ù¡B§f¶®´D¡B±ä¥j¾s¡B¬IÎr¥þ |
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This study investigates how leadership affects public policies in markets where the
number of firms is endogenously determined. We focus on the relationship
between the relative efficiency of an incumbent firm and
the optimal entry tax (entry barrier). We find that this relationship depends
on whether the incumbent can commit to the output before the entries of new firms.
The optimal entry tax is decreasing (res. increasing) in the productivity of
the incumbent when it takes (res. does not take) leadership. We also find
that the optimal entry barrier occurring when the incumbent takes leadership
is lower than that when it does not. |