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- W2240398373 abstract "Tradable permits or licenses may be used as a barrier to entry in order to gain market power.In particular, a single entrant may be the only candidate to buy all the permits and monopolizethe regulated industry under many circumstances. Therefore, we can bring into the permitmarket the idea of �takeover� that stems from Grossman and Hart�s (1980) seminal work.Both in symmetric, pure- and mixed-strategy equilibria, the entrant�s expected profit, andhence the probability of entry, decreases as the number of incumbents increases. Thus, theless competition in the industry before regulation, the more likely monopolization." @default.
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- W2240398373 date "2005-01-01" @default.
- W2240398373 modified "2023-09-27" @default.
- W2240398373 title "Monopolization of a Regulated Industry Using Tradable Permits" @default.
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