A note on free entry under uncertainty: The role of asymmetric information |
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Authors: | Salvatore Piccolo |
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Institution: | Università Federico II di Napoli and CSEF, Italy |
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Abstract: | In a model of competing managerial firms I show that the equilibrium number of firms decreases with uncertainty if entry is relatively more costly than monitoring. The result adds to the earlier contributions and is consistent with the available evidence. |
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Keywords: | D43 D81 L12 |
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