@techreport{publications15875,
          volume = {14-482},
           month = {March},
          author = {Guillem Roig},
          series = {TSE Working Paper},
       booktitle = {TSE Working Paper},
           title = {What Determines Market Structure? An Explanation from Cooperative Investment with Non?Exclusive Co},
            type = {Working Paper},
       publisher = {TSE Working Paper},
            year = {2014},
        keywords = {cooperative investment, investment distribution, competition},
             url = {https://publications.ut-capitole.fr/id/eprint/15875/},
        abstract = {In a common agency setting, where the common buyer undertakes cooperative investment with her suppliers, we obtain a direct link between the level of ex-post competition and investment which affects the market structure of the supply side of the market. We show that more competitive equilibria are associated with a larger and more homogeneous distribution of investment among active suppliers, and an equilibrium with no investment might occur when competition is mild. In our model, buyer's investment works as a mechanism to incentivize competition, and its effectiveness is positively related to the level of competition ex-post. In general, the equilibrium investment profile is lower than efficiency, and we surprisingly find that higher competitive markets may sustain a larger number of suppliers.}
}