Free entry with cost reducing investment: a note
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1998
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Facultad de Ciencias Económicas y Empresariales. Instituto Complutense de Análisis Económico (ICAE)
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Abstract
This paper extends Mankiw & Whinston' s (86) characterization of excessive entry to the case where firms, in addition to producing, can also make a deterministic cost reduction investment, either before, or at the same time as production.