Abstracts

Business, international

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The effect of incomplete information about future technological opportunities on pre-emption

Article Abstract:

A simple Dixit model is used to investigate the effects of uncertainty in a case wherein an incumbent firm is faced with the possibility of entry by a firm with a different technology. This new technology is low-cost and is made available in the second period of technological development to the entrant and to the incumbent if it delays strategic investment. Analysis shows that preemption does not necessarily follow when the joint effects of uncertainty and irreversibility of investment are considered.

Technological innovations, Oligopolies

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Deregulation and quality

Article Abstract:

The study of the introduction of duopolistic competition in industries leads to a free-rider problem which weakens quality. The regulator reduces the market-share of the opportunistic producer and selects more often a monopoly to exhort the efficient producer to allow quality. Nonetheless, when quality is verifiable, the insertion of competition requires no welfare loss whether the regulator follows total quality outcome or individual contributions.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Business Regulation NEC, Commercial law

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Can consumers benefit from a policy limiting the market share of a dominant firm?

Article Abstract:

A model which examines the development of market shares is developed to determine the effect on consumers of a policy limiting the market shares of dominant companies. Empirical analysis reveals that, in the short run, the policy is not beneficial due to its inflationary effect on costs. However, the policy may prove to be beneficial in the long run through a reduction in future prices.

Models, Analysis, Consumption (Economics), Market share, Price cutting

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