全球智库信息集成服务系统(G2TT): Public Monopoly and Economic Efficiency: Evidence from the Pennsylvania Liquor Control Board's Entry Decisions

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来源类型	Working Paper
规范类型	报告
DOI	10.3386/w16258
来源ID	Working Paper 16258
	Public Monopoly and Economic Efficiency: Evidence from the Pennsylvania Liquor Control Board's Entry Decisions
	Katja Seim; Joel Waldfogel
发表日期	2010-08-12
出版年	2010
语种	英语
摘要	While private monopolists are generally assumed to maximize profits, the goals of public enterprises are less well known. Using the example of Pennsylvania's state liquor retailing monopoly, we use information on store location choices, prices, wholesale costs, and sales to uncover the goals implicit in its entry decisions. Does it seek to maximize profits or welfare? We estimate a spatial model of demand for liquor that allows us to calculate counterfactual configurations of stores that maximize profit and welfare. We find that welfare maximizing networks have roughly twice as many stores as would maximize profit. Moreover, the actual network is much more similar in size and configuration to the welfare maximizing configuration. An alternative to a state monopoly would be the common practice of regulated private entry. While such regimes can give rise to inefficient location decisions, little is known about the size of the resulting inefficiencies. Even for a given number of stores, a simple characterization of free entry with our model results in a store configuration that produces welfare losses of between 3 and 9% of revenue. This is a third to half of the overall loss from unregulated free entry.
主题	Industrial Organization ; Market Structure and Firm Performance ; Firm Behavior ; Nonprofits ; Industry Studies
URL	https://www.nber.org/papers/w16258
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/573933
推荐引用方式 GB/T 7714	Katja Seim,Joel Waldfogel. Public Monopoly and Economic Efficiency: Evidence from the Pennsylvania Liquor Control Board's Entry Decisions. 2010.

条目包含的文件
文件名称/大小	资源类型	版本类型	开放类型	使用许可
w16258.pdf（333KB）	智库出版物		限制开放	CC BY-NC-SA	浏览