Profit‐enhancing entries in mixed oligopolies
Profit‐enhancing entries in mixed oligopolies
复制标题
混合寡头垄断中的利润增强条目
DOI：
10.1002/soej.12506
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发表时间：
2021
影响因子：
1.9
通讯作者：
Matsumura Toshihiro
中科院分区：
文献类型：
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作者：
Haraguchi Junichi;Matsumura Toshihiro
混合寡头垄断的特点是私营和公营企业。以前，进入这些市场是有限制的。此后，由于放松管制，这一政策有所放松，结果，私营企业进入了混合寡头垄断。私营公司数量的增加增加了它们之间的竞争，并减少了现有私营公司的利润，因为私有化政策没有改变。然而，私营企业数量的增加可能会影响私有化政策，从而间接影响私营企业的利润。因此，对私营企业利润的总体影响是模糊的。在本研究中，我们将探讨在混合寡占市场中，民营厂商的数量如何影响各民营厂商的获利。我们使用线性二次生产成本函数，它涵盖了混合寡头文献中两种流行的模型公式。我们发现，如果私有化程度是外生的，每个私人企业的利润减少与私人企业的数量。但是，如果民营化程度是内生的，则在合理的成本参数范围内，民营企业的数量与利润的关系呈倒U型。我们的研究结果表明，在不同程度的私有化的自由进入市场中，可能存在多重均衡。
Mixed oligopolies are characterized by private and public enterprises. Previously, entry into these markets was restrictive. It has since been relaxed by deregulations, and as a result, private firms have entered mixed oligopolies. An increase in the number of private firms increases competition among them and reduces the profit of incumbent private firms, given the privatization policy remains unchanged. However, an increase in the number of private firms may affect privatization policy, and thus, indirectly affect private firms' profits. Therefore, the overall effect on private firms' profit is ambiguous. In this study, we investigate how the number of private firms affects the profit of each private firm in mixed oligopolies. We use a linear‐quadratic production cost function, which covers two popular model formulations in the mixed oligopoly literature. We show that if the degree of privatization is exogenous, the profit of each private firm decreases with the number of private firms. However, if the degree of privatization is endogenous, the relationship between the number of private firms and profit takes an inverted‐U shape under a plausible range of cost parameters. Our results imply that there can exist multiple equilibria in free‐entry markets with different degrees of privatization.