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Mixed oligopoly, public firm behavior, and free private entry

Research output: Contribution to journalArticle

Author(s)

John Bennett, Manfredi M A La Manna

School/Research organisations

Abstract

We analyze a mixed oligopoly with free entry by private …rms, assum-
ing that a public …rm maximizes an increasing function of output, subject
to a break-even constraint. We establish an irrelevance result: whenever a
mixed oligopoly is viable, then aggregate output, aggregate costs and wel-
fare are the same with and without the public …rm. However, replacing a
viable mixed oligopoly with a public monopoly yields higher net welfare.
Implications for privatization policy are suggested.
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Details

Original languageEnglish
Pages (from-to)767-769
Number of pages3
JournalEconomics Letters
Volume117
Issue number3
DOIs
Publication statusPublished - Dec 2012

    Research areas

  • Mixed oligopoly, Entry, Privatization

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