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Selection Effects with Heterogeneous Firms.

Abstract:

We provide a general characterization of which firms will select alternative ways of serving a market. If and only if firms’ maximum profits are supermodular in production and market-access costs, more efficient firms will select into the activity with lower market-access costs. Our result applies in a range of models and under a variety of assumptions about market structure. We show that supermodularity holds in many cases but not in all. Exceptions include FDI (both horizontal and verti...

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Volume:
588
Series:
Discussion paper series
Publication date:
2011-12-05
URN:
uuid:93b5a1d1-e6c5-4071-a196-eacafac0dcc4
Local pid:
oai:economics.ouls.ox.ac.uk:15380
Language:
English

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