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Investment Promotion May Facilitate Inefficient Foreclosure
出版SSRN, 2012
URLhttp://books.google.com.hk/books?id=uMnizwEACAAJ&hl=&source=gbs_api
註釋This paper studies a model whereby exclusive dealing (ED) can both promote investment and foreclose a more efficient supplier. Since ED promotes the incumbent seller's investment, the seller and the buyer realize a greater surplus from bilateral trade under exclusivity. Hence, the parties involved may sign an ED contract that excludes a more efficient entrant in circumstances where ED would not arise absent investment. The paper therefore invites a more cautious attitude towards accepting possible investment promotion arguments as a defense for ED.