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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

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Discussion Papers In Economics And Business.13-24 P.1-P.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

2013-09-16

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

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.

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

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