テクニカルレポート

ディスカッション／ワーキング・ペーパー

text

Discussion Papers In Economics And Business. 2013, 13-24, p. 1-34

Relationship-specific Investment as a Barrier to Entry

Graduate School of Economics and Osaka School of International Public Policy (OSIPP), Osaka University

英語

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2013-09-16

http://www2.econ.osaka-u.ac.jp/library/global/dp/1324.pdf

This study constructs a model of a relationship-specific investment in a dynamic framework. Although such investment decreases operating costs and increases the current joint profits of firms in vertical relationships, its specificity reduces the ex-post flexibility to change a trading partner in the future. We demonstrate that whether the investment contract deters entry even in the absence of exclusionary terms depends on not only the specificity but also the e ciency of the investment. We also show that an increase in the investment e ciency does not necessarily improve the equilibrium social welfare.

25958

Relationship-specific Investment as a Barrier to Entry

Graduate School of Economics and Osaka School of International Public Policy (OSIPP), Osaka University

英語

2013-09-16

Discussion Papers In Economics And Business

13-24

1

34

https://hdl.handle.net/11094/25958

http://www2.econ.osaka-u.ac.jp/library/global/dp/1324.pdf