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2018•RePEc: Research Papers in EconomicsRequires access

Multiple Long-Run Equilibria in a Free-Entry Mixed Oligopoly

Junichi Haraguchi, Toshihiro Matsumura

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Abstract

We investigate a free-entry mixed oligopoly with constant marginal costs. A privatization policy is implemented after private firms enter the market. We find that both full privatization and full nationalization are equilibrium policies, and the former is the worst privatization policy for welfare.

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What this paper is about

We investigate a free-entry mixed oligopoly with constant marginal costs. A privatization policy is implemented after private firms enter the market. We find that both full privatization and full nationalization are equilibrium policies, and the former is the worst privatization policy for welfare.

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Available abstract

We investigate a free-entry mixed oligopoly with constant marginal costs. A privatization policy is implemented after private firms enter the market. We find that both full privatization and full nationalization are equilibrium policies, and the former is the worst privatization policy for welfare.

Key concepts: Oligopoly, Free entry, Marginal cost, Economics, Welfare, Microeconomics, Constant (computer programming), Market economy

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