Excess Entry in the Absence of Scale Economies |
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Authors: | Arghya Ghosh Souresh Saha |
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Institution: | (1) School of Economics, University of New South Wales, Sydney, 2052, Australia;(2) Department of Economics, The National University of Singapore, 10 Kent Ridge Crescent, Singapore, 119260, Singapore |
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Abstract: | It is well-known that with free entry, more firms than is socially optimal typically enter provided there are economies of
scale. This paper investigates the possibility of excess entry in the absence of scale economies
We thank Simon Anderson, Tom Holmes, the late Arijit Mukherji, and Xavier Vives for helpful comments. We also thank the participants
at the July 2001 Australasian Meetings of the Econometric Society in Auckland, June 2002 University of Melbourne-National
University of Singapore Symposium and seminar participants at the University of Sydney and University of New South Wales for
useful suggestions. We are especially thankful to an anonymous referee whose meticulous comments have helped us to improve
the paper |
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Keywords: | Free entry Economies of scale Business-stealing Excess entry Cournot Stackelberg |
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