Please use this identifier to cite or link to this item: http://scholarbank.nus.edu.sg/handle/10635/16221
Title: Free Entry & Social Welfare
Authors: HUANG JINGYING
Keywords: free entry game, welfare, excess/insufficient entry
Issue Date: 28-May-2007
Source: HUANG JINGYING (2007-05-28). Free Entry & Social Welfare. ScholarBank@NUS Repository.
Abstract: This paper examines excess entry problems in simultaneous free entry games of homogeneous product markets. We start our discussion from the static model, then extend to the dynamic model, and incorporate tax as an additional variable to evaluate the excess/insufficient entry problems. While the static model has high possibility of insufficient entry, an unregulated entry process in the dynamic model usually leads to excess entry. This phenomenon becomes more significant especially when the entry game is played for several rounds. Properties of social welfare under different market circumstances are also discussed. Finally, we numerically solve the tax/subsidy curves which maximize the social welfare under different market environments.
URI: http://scholarbank.nus.edu.sg/handle/10635/16221
Appears in Collections:Master's Theses (Open)

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