AN ECONOMIC ANALYSIS OF COMPETITION POLICY: COMPETITION, COOPERATION AND ECONOMIC WELFARE

根据提出的研究计划，我们进行了以下研究。首先，我们完成了四篇关于寡头垄断和福利的理论论文。在"寡头垄断竞争与经济福利"中，我们通过考虑一般均衡的相互作用，扩展了超额进入定理。在"战略性成本削减投资与经济福利"一文中，我们采用两阶段竞争模型考察了战略性成本削减投资承诺的福利效应。在“具有溢出的寡占企业中的合作与非合作R & D”中，我们分析了存在溢出时联合R & D的福利效应。在"战略质量选择与经济福利"中，我们分析了产品质量选择的福利效应;在"战略信息披露"中，我们分析了寡头垄断中信息披露的作用;在"电信产业的竞争与规制"和"日本流通业的规制"中，我们分析了私有化和放松规制的福利效应。理论上和经验上都是如此。特别是，我们正处于总结我们对银行业和人寿保险业的分析的阶段。此外，整个项目的理论部分将在我未来的书《竞争、承诺和福利》中进行总结。

In accordance with the proposed research plan, we have done the following researches. First, we have completed four theoretical papers on oligopoly and welfare. In "Oligopolistic Competition and Economic Welfare" we extended the excess entry theorem by taking the general equilibrium interactions into considerations. In "Strategic Cost-Reduction Investment and Economic Welfare" we investigated the welfare effects of strategic commitment to cost- reducing investment in terms of a two-stage model of competition. In "Cooperative and Non- cooperative R&D in Oligopoly with Spillovers" we analyzed the welfare effects of joint R&D in the presence of spillovers. In "Strategic Quality Choice and Economic Welfare" we examined the welfare effects of product quality choice.Second, we analyzed the role of information revelation in oligopoly in "Strategic Information Revelation".Third, we analyzed the welfare effects of privatization and deregulation in "Competition and Regulation in Telecommunication Industry" and "Regulation of Distribution Industry in Japan".We are still pursuing this project, both theoretically and empirically. In particular, we are in the stage of summarizing our analysis of banking industry and life insurance industry. Besides, the theoretical part of this whole project will be summarized in my prospective book called Competition, Commitment and Welfare.