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A vertically related market with vertical product differentiation is used to analyze the impact of vertical cross‐ownership on industry profit, consumer surplus and social welfare. With forward cross‐ownership, we find that when the upstream firm holds the share of the low‐quality downstream firm, the industry profit is increasing (decreasing) in the cross‐ownership if the product quality difference...
In this paper, we consider whether a firm that produces high‐quality products chooses to produce lower‐quality products. We find that when there is only one monopoly in the market, the monopoly will only produce a single‐quality product. When there are two firms in the market, one produces high‐quality products and the other one produces low‐quality products. When certain conditions are met, the firm...
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