Conflict between Consumer and Worker Surpluses under Monopoly Power
In: Economics Letters, Forthcoming
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In: Economics Letters, Forthcoming
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In: Japanese economic studies: a journal of translations, Band 4, S. 3-26
ISSN: 0021-4841
In: Japanese Economic Studies, Band 4, Heft 2, S. 3-26
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In: Journal of the City Planning Institute of Japan, Band 54, Heft 3, S. 1570-1575
ISSN: 2185-0593
In: The Manchester School, Band 87, Heft 1, S. 37-59
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In: The Manchester School, Band 87, Heft 1, S. 37-59
ISSN: 1467-9957
This study formulates a two‐period model of mixed oligopoly in which the government privatizes a state‐owned public firm over multiple periods. We introduce the shadow cost of public funding (i.e., the excess burden of taxation). The government is concerned about both the total surplus and the revenue obtained from the privatization of the public firm. We find that the government may or may not increase the degree of privatization over time depending on the competitiveness of the product market and nationality of private competitors. The government increases the degree of privatization over time if the product market is competitive and the foreign ownership share in private firms is low. Although it adjusts its privatization policy over time, this harms welfare. In addition, this distortion in the ex post incentive leads to too low a degree of privatization in the first period.
In: UNSW Business School Research Paper Forthcoming
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In: TPRC48: The 48th Research Conference on Communication, Information and Internet Policy
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In: Journal of economics, Band 123, Heft 1, S. 71-88
ISSN: 1617-7134