@article{Competition::1608,
      recid = {1608},
      author = {Minamihashi, Naoaki},
      title = {Natural Monopoly and Distorted Competition: Evidence from  Unbundling Fiber-Optic Networks},
      address = {2012},
      pages = {1 online resource (iii, 37 pages)},
      abstract = {Can regulation solve problems arising from a natural  monopoly? This paper analyzes whether “unbundling,”  referring to regulations that enforce sharing of natural  monopolistic infrastructure, prevents entrants from  building new infrastructure. It models and estimates a  dynamic entry game to evaluate the effects of regulation,  using a dataset for construction of fiber-optic networks in  Japan. The counterfactual exercise shows that forced  unbundling regulation leads to a 24% decrease in the  incidence of new infrastructure builders. This suggests,  therefore, that when a new technology is being diffused,  regulation to remove a natural monopoly conversely involves  risks that regulated monopolists’ shares will increase.},
      url = {http://www.oar-rao.bank-banque-canada.ca/record/1608},
      doi = {https://doi.org/10.34989/swp-2012-26},
}