文献类型：期刊文献

英文题名：Advertising and Price Competition in the Presence of Overlapping Ownership

作者：Li, Changying[1];Zhang, Jianhu[1];Li, Youping[2,3]

机构：[1]Shandong Univ, Sch Econ, 27 Shanda South Rd, Jinan 250100, Shandong, Peoples R China;[2]East China Univ Sci & Technol, Sch Business, 130 Meilong Rd, Shanghai 200237, Peoples R China;[3]East China Univ Sci & Technol, Oliver Hart Res Ctr Contracts & Governance, 130 Meilong Rd, Shanghai 200237, Peoples R China

年份：2022

卷号：178

期号：1

起止页码：43

外文期刊名：JOURNAL OF INSTITUTIONAL AND THEORETICAL ECONOMICS-ZEITSCHRIFT FUR DIE GESAMTE STAATSWISSENSCHAFT

收录：;WOS:【SSCI(收录号:WOS:000827811800002)】；

基金：Changying Li: School of Economics, Shandong University, Shandong, P.R. China; Youping Li (corresponding author): School of Business and the Oliver Hart Research Center of Contracts and Governance, East China University of Science and Technology, Shanghai, P.R. China; Jianhu Zhang (corresponding author): School of Economics, Shandong University, Shandong, P.R. China. We wish to thank Ralph-Christopher Bayer and two anonymous referees for valuable comments and suggestions. Financial support from the National Social Science Foundation of China (18ZDA078, 17ZDA040), the National Natural Science Foundation of China (71973082), the Shandong Social Science Foundation (19CJJJ16), and Shandong University (IFYT1901) is gratefully acknowledged. The usual disclaimers apply.

语种：英文

外文关键词：overlapping ownership; advertising; welfare

摘要：While overlapping ownership among rival firms has usually been thought of as anticompetitive, we find that it may improve consumer and social welfare when its effect on advertising is incorporated. In a differentiated duopoly, this paper analyzes the firms??? price and advertising strategies in the presence of overlapping ownership. Despite its price-enhancing effect, overlapping ownership causes the firms to advertise more, and in equilibrium more consumers make a purchase. The firms earn higher profits, and, under certain conditions, consumer and total social welfare are greater than in the case of independent ownership.