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What role should public enterprises play in free-entry markets?

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Author Info
Hiroaki Ino () (Kwansei Gakuin University)
Toshihiro Matsumura () (University of Tokyo)

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Abstract

We investigate a desirable role of public enterprise in mixed oligopoly in free-entry markets. We compare the following three cases: (i) a public firm produces before private firms (public leadership), (ii) all firms produce simultaneously (Cournot), (iii) a public firm produces after private firms (private leadership). We find that private leadership is best and public leadership is worst, in contrast to the cases without entries and exits of private firms. We also investigate the welfare implication of privatization. We find that some important results shown by existing works do not hold under private leadership.

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File URL: http://192.218.163.163/RePEc/pdf/kgdp46.pdf
File Format: application/pdf
File Function: First version, 2009
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Publisher Info
Paper provided by School of Economics, Kwansei Gakuin University in its series Discussion Paper Series with number 46.

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Length: 23 pages
Date of creation: Jun 2009
Date of revision: Jun 2009
Handle: RePEc:kgu:wpaper:46

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Related research
Keywords: free-entry market; Stackelberg; Cournot; mixed oligopoly; commitment;

Find related papers by JEL classification:
H42 - Public Economics - - Publicly Provided Goods - - - Publicly Provided Private Goods
L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets

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This page was last updated on 2009-12-9.

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