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Optimal Number of Firms in the Wireless Markets

机译:无线市场中的最优企业数量

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摘要

In this paper, we design a theoretical model to analyze the impact of the number of firms on investment in the wireless communications industry. Our model extends the Salopu2019s framework by introducing investment in quality that either reduces the marginal cost of production or shifts the consumersu2019 valuation upward. We find that an increase in the number of firms reduces their incentives to invest in quality. The impact on the aggregate industry investment can be non-monotone. These theoretical findings are supported by empirical evidence from the mobile telecommunications industry. More specifically, we find that mobile operatorsu2019 investment in network infrastructure is not affected when going from two to three firms; but decreases above three firms. In addition, there is an inverted-U relationship between the industry investment and the number of mobile operators; the maximum being reached at three or four mobile operators.
机译:在本文中,我们设计了一个理论模型来分析公司数量对无线通信行业投资的影响。我们的模型通过引入对质量的投资来扩展Salop的框架,从而降低生产的边际成本或提高消费者的估值。我们发现,公司数量的增加降低了他们投资质量的动机。对行业总投资的影响可能是非单调的。这些理论发现得到了移动电信行业的经验证据的支持。更具体地说,我们发现,当移动运营商从两个公司扩展到三个公司时,对网络基础设施的投资不会受到影响;但下降到三行以上。此外,行业投资与移动运营商数量之间存在倒U型关系。三个或四个移动运营商达到的最大值。

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