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Land Use Regulation as a Barrier to Entry: Evidence from the Texas Lodging Industry

  • Junichi Suzuki

I empirically examines the anticompetitive effects of land use regulation by using microdata on midscale chain hotels in Texas. I construct a dynamic entry-exit model of midscale hotel chains. By endogenizing their entry decisions, the model explicitly considers hotel chains' reactions to the stringency of land use regulation. Estimation results indicate that imposing stringent regulation increases cost enough to affect hotel chains' entry decisions. Although hotel chains are the immediate payers of the increased entry cost, incumbents shift a part of their cost increase onto consumers by exploiting their increased market power. (JEL: R3, L1, L5)

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File URL: http://www.economics.utoronto.ca/public/workingPapers/tecipa-400.pdf
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Paper provided by University of Toronto, Department of Economics in its series Working Papers with number tecipa-400.

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Length: 45 pages
Date of creation: 01 Apr 2010
Date of revision:
Handle: RePEc:tor:tecipa:tecipa-400
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