Can cross-holdings benefit consumers?

IF 1.6 4区 经济学 Q2 ECONOMICS
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引用次数: 0

Abstract

Common wisdom suggests that cross-holdings can lead to significant output contraction, and thus hurt consumers. On the contrary, we demonstrate that cross-holdings may increase industry output and benefit consumers in an asymmetric Cournot oligopoly with the presence of a welfare-maximizing tax/subsidy policy. The government will strategically use the tax/subsidy policy to regulate the market outcomes in anticipation of the adverse effect of cross-holdings, which could raise industry output and benefit consumers in certain situations depending on the cost distributions and cross-holding structures.

交叉持股能否让消费者受益?
摘要 一般认为,交叉持股会导致产出大幅萎缩,从而损害消费者利益。相反,我们证明,在存在福利最大化税收/补贴政策的非对称库诺寡头垄断中,交叉持股可能会增加行业产出并使消费者受益。政府会战略性地使用税收/补贴政策来调节市场结果,以防范交叉持股的不利影响,在某些情况下,根据成本分布和交叉持股结构的不同,交叉持股可能会提高行业产出并使消费者受益。
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来源期刊
CiteScore
1.70
自引率
11.80%
发文量
38
期刊介绍: Specializing in mathematical economic theory, Journal of Economics focuses on microeconomic theory while also publishing papers on macroeconomic topics as well as econometric case studies of general interest. Regular supplementary volumes are devoted to topics of central importance to both modern theoretical research and present economic reality. Fields of interest: applied economic theory and ist empirical testing.Officially cited as: J Econ
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