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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)

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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 Format: application/pdf
File Function: First version, 2009
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File URL: http://www.pcb.ub.es/xreap/aplicacio/fitxers/XREAP2009-3.pdf
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File Function: Revised version, 2009
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Publisher Info
Paper provided by Xarxa de Referència en Economia Aplicada (XREAP) in its series Working Papers with number XREAP2009-3.

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Length: 40 pages
Date of creation: Apr 2009
Date of revision: Apr 2009
Handle: RePEc:xrp:wpaper:xreap2009-3

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Postal: Espai de Recerca en Economia, Facultat de Ci�ncies Econ�miques 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.es/xreap
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Related research
Keywords: Entry; regulation; professional services;

Find related papers by JEL classification:
L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
H51 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Health
L84 - Industrial Organization - - Industry Studies: Services - - - Personal, Professional, and Business Services
I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health

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This page was last updated on 2009-11-18.

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