主题 Topic：Entry and Welfare in Search Markets
时间Time：4月29号（周五）｜ April 29th (Friday), 10:10 – 11:30 am
地点Venue：文波楼208室｜Room 208 , WENBO
主讲人Speaker：张天乐，香港岭南大学经济系助理教授 (Department of Economics, Lingnan University ), 2010年获美国科罗拉多波德分校(University of Colorado at Boulder )经济学博士学位。他的论文已发表在 Management Science (SSCI),Journal of Economic Behavior andOrganization (SSCI), International Journal of Industrial Organization (SSCI)等世界知名经济期刊上。
研究领域: 产业组织理论，定价理论，应用微观经济学
Dr. Tianle Zhang is an assistant professor of Departmentof Economics, Lingnan University. Dr. Zhang earns his PhD degree in Economicsat University of Colorado at Boulder, USA, in 2010. He has published severalacademic papers in Management Science (SSCI), Journal of Economic Behavior andOrganization (SSCI), International Journal of Industrial Organization (SSCI)etc.
Research Area: Industrial Organization, Pricing Theory, Applied Microeconomics
Abstract:
The effects of entry on consumer and totalwelfare are studied in a model of consumer search. Potential entrants differ inquality, with high-quality sellers being more likely to meet consumer needs.Contrary to the standard view in economics that more entry benefits consumers,we find that consumer welfare has an inverted-U relationship with entry cost,and free entry is excessive for both consumer and total welfare when entry costis relatively low. We explain why these results may arise naturally in searchmarkets due to the variety and quality effects of entry, and discuss theirbusiness and policy implications.
