作者：Bisceglia, Michele; Padilla, Jorge; Perkins, Joe; Piccolo, Salvatore
作者单位：University of Bergamo; University of Bergamo
摘要：In a Cournot industry where firms are privately informed about their marginal costs, raising entry barriers (i.e., imposing strictly positive, but not too large, entry costs) increases expected output, entrants' profits, total welfare, and might benefit consumers. Under Bayes-Cournot competition, firms react to the expectation (conditional on entry) of rivals' costs rather than to their actual costs. This creates scope for entry by relatively inefficient types. Entry costs that prevent these h...
