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In the context of mixed markets, Matsumura and Kanda (J Econ 84(1): 27–48, 2005) show that social welfare in free entry equilibrium is maximized when there exists a public firm in the market. En passant, these authors state that this outcome is connected to the entry-deterring influence of a public firm. In this way, they counter-act the excess entry problem of Mankiw and Whinston (Rand J Econ 17(1):...
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