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Privatization neutrality theorem revisited

Toshihiro Matsumura () and Yasunori Okumura ()

Economics Letters, 2013, vol. 118, issue 2, 324-326

Abstract: Fjell and Heywood (2004) show that privatization is not necessarily welfare neutral in mixed oligopolies under a production subsidy if firms move sequentially. We find that the neutrality holds for any time structure if instead an output floor is introduced.

Keywords: Minimum quantity regulation; Mixed oligopolies; Stackelberg; Cournot; Irrelevance results (search for similar items in EconPapers)
JEL-codes: H42 L13 (search for similar items in EconPapers)
Date: 2013
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Handle: RePEc:eee:ecolet:v:118:y:2013:i:2:p:324-326