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Assessing excess profits from different entry regulations

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Author Info

  • Joan-Ramon Borrell

    () (PPRE-IREA, Universitat de Barcelona)

  • Laura Fernández-Villadangos

    () (PPRE-IREA, Universitat de Barcelona)

Abstract

Entry regulations affecting professional services such as pharmacies are common practice in many European countries. We assess the impact of entry regulations on profits estimating a structural model of entry using the information provided by a policy experiment. We use the case of different regional policies governing the opening of new pharmacies in Spain to show that structural models of entry ought to be estimated with data from policy experiments to pin down how entry regulations change payoffs functions of the incumbents. Contrary to the public interest rationales, regulations are not boosting only small town pharmacies payoffs nor increasing all pharmacies payoffs alike. The gains from regulations are very unevenly distributed,suggesting that private interests are shaping the current mix of entry and markup regulations.

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File URL: http://www.pcb.ub.es/xreap/aplicacio/fitxers/XREAP2009-3.pdf
File Function: First version, 2009
Download Restriction: no
File URL: http://www.pcb.ub.es/xreap/aplicacio/fitxers/XREAP2009-3.pdf
File Function: Revised version, 2009
Download Restriction: no

Bibliographic Info

Paper provided by Xarxa de Referència en Economia Aplicada (XREAP) in its series Working Papers with number XREAP2009-03.

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Length: 40 pages
Date of creation: Apr 2009
Date of revision: Apr 2009
Handle: RePEc:xrp:wpaper:xreap2009-03

Contact details of provider:
Postal: Espai de Recerca en Economia, Facultat de Ciències Econòmiques i Empresarials, Universitat de Barcelona, c/ Tinent Coronel Valenzuela, 1-11, 08034 Barcelona
Phone: +34+934039653
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Web page: http://www.pcb.ub.edu/xreap
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Related research

Keywords: Entry; regulation; professional services;

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References

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  1. Griffith, Rachel & Harmgart, Heike, 2008. "Supermarkets and Planning Regulation," CEPR Discussion Papers 6713, C.E.P.R. Discussion Papers.
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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Un ejemplo clásico de restricciones a la entrada: el caso de las farmacias
    by Gerard Llobet in Nada Es Gratis on 2013-05-07 06:00:29

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