| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3225 |
| DP3225 The Dynamic Relationship Between the Federal Funds rate and the Treasury Bill Rate: An Empirical Investigation | |
| LUCIO SARNO; Daniel L Thornton | |
| 发表日期 | 2002-02-20 |
| 出版年 | 2002 |
| 语种 | 英语 |
| 摘要 | This Paper examines a general problem exemplified by post-auction (third generation ?3G?) mobile telecommunications markets and by recent developments in the UK market for postal services. When entering these (or any other) markets, firms must often decide on the degree of coverage (?roll-out?) they wish to achieve. Prior investment must be sunk in order to achieve the desired (or mandated) coverage level. We study the private and social incentives of a would-be entrant into a market with horizontal product differentiation when choosing its level of roll-out. The endogenous extent of entry influences downstream retail prices; Bertrand or local monopoly pricing or a mixed strategy equilibrium may emerge. Importantly, entry may involve too much or too little roll-out from a social perspective, thus suggesting that regulatory intervention may be appropriate to achieve desired levels of competition in such settings. |
| 主题 | Industrial Organization ; Public Economics |
| 关键词 | Rollout Entry Regulation Telecommunications |
| URL | https://cepr.org/publications/dp3225 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/532250 |
| 推荐引用方式 GB/T 7714 | LUCIO SARNO,Daniel L Thornton. DP3225 The Dynamic Relationship Between the Federal Funds rate and the Treasury Bill Rate: An Empirical Investigation. 2002. |
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