Under Cournot oligopoly with a homogeneous product, we present a sufficient condition that guarantees the uniqueness of the welfare-maximizing number of firms to attain the global maximum level of welfare by implementation of a piecemeal policy changing the number of firms gradually. We adopt...

This paper examines whether the built-in durability chosen by a durable-good monopolist and the actual durability associated with consumer maintenance are excessive or insufficient. Our research indicates that only in situations where both the consumer maintenance market and the secondhand...

We investigate whether non-tradable service FDI is efficient from a welfare point of view. A fixed number of firms strategically decide which markets to locate in and then compete in quasi-Cournot fashion. Considering firm location in two symmetric markets, non-tradable service FDI may or may...

Preface -- Contents -- Part I The Formation of Free Trade Agreements -- 1 Expansion of Free Trade Agreements, Overlapping Free Trade Agreements, and Market Size -- 1.1 Introduction -- 1.2 The Model -- 1.3 Preliminary Results -- 1.3.1 Initial Situation: No FTA -- 1.3.2 Feasibility of Bilateral...