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Taxation And Welfare In An Oligopoly With Stategic Commitment

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Author Info

  • BESLEY, T.
  • SUZUMURA, K.

Abstract

This paper establishes comparative statics results for an oligopoly model with strategic commitment. Firms compete in two stages. In the first stage, firms decide on strategic cost-reducing R&D investment, whereas they choose output in the second stage. Taking an excise tax/subsidy as a shift parameter in the second stage game, the short-run as well as long-run effects on output, cost-reducing R&D investment, and second-best welfare will be examined. The crucial role played by the strategic substitutability of outputs as well as cost-reducing R&D investments is clarified, and a variant of the Le Chatelier-Samuelson principle in the authors' game-theoretic model is obtained. Copyright 1992 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.

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Bibliographic Info

Paper provided by Princeton, Woodrow Wilson School - Discussion Paper in its series Papers with number 52.

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Length: 25 pages
Date of creation: 1989
Date of revision:
Handle: RePEc:fth:priwdp:52

Contact details of provider:
Postal: PRINCETON UNIVERSITY, WOODROW WILSON SCHOOL OF PUBLIC AND INTERNATIONAL AFFAIRS, DEPARTMENT OF ECONOMICS, PRINCETON NEW-JERSEY 08542 U.S.A.
Phone: (609) 258-4800
Web page: http://www.wws.princeton.edu/
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Related research

Keywords: taxation ; welfare economics ; oligopolies ; investment policy ; entreprises;

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Cited by:
  1. Auerbach, Alan J. & Hines, James Jr., 2002. "Taxation and economic efficiency," Handbook of Public Economics, in: A. J. Auerbach & M. Feldstein (ed.), Handbook of Public Economics, edition 1, volume 3, chapter 21, pages 1347-1421 Elsevier.
  2. Long, Ngo Van & Soubeyran, Antoine, 2001. "Cost Manipulation Games in Oligopoly, with Costs of Manipulating," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 42(2), pages 505-33, May.
  3. Blonigen, Bruce A. & Ohno, Yuka, 1998. "Endogenous protection, foreign direct investment and protection-building trade," Journal of International Economics, Elsevier, vol. 46(2), pages 205-227, December.
  4. Don Fullerton & Gilbert Metcalf, 2002. "The Distribution of Tax Burdens," Discussion Papers Series, Department of Economics, Tufts University 0201, Department of Economics, Tufts University.
  5. Greg Shaffer & Stephen W. Salant, 1999. "Unequal Treatment of Identical Agents in Cournot Equilibrium," American Economic Review, American Economic Association, vol. 89(3), pages 585-604, June.
  6. Luca Lambertini, 1994. "Optimal Fiscal Regime in a Spatial Duopoly," Working Papers 205, Dipartimento Scienze Economiche, Universita' di Bologna.
  7. Friedel Bolle, 2011. "Over- and under-investment according to different benchmarks," Journal of Economics, Springer, vol. 104(3), pages 219-238, November.
  8. Gilbert E. Metcalf & Don Fullerton, 2002. "The Distribution of Tax Burdens: An Introduction," NBER Working Papers 8978, National Bureau of Economic Research, Inc.

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