González-Maestre, Miguel; Peñarrubia, Diego - In: Estudios de Economía 44 (2017) 2, pp. 157-172
, this paper contributes to the analysis of the welfare distortions due to these regulations. In the context of a duopoly …, our results show that social welfare is not monotonic with the regulatory threshold. In particular, we obtain the … paradoxical result that a policy decision of increasing the threshold might involve a dramatic decrease in welfare in some markets …