Successive Oligopolies with Differentiated Firms and Endogeneous Entry
构建了一个允许上下游市场差异化程度和进入成本变化的连续寡头模型，发现下游条件主导整体盈利，上游条件主要影响利润分配；线性定价可能比两部定价带来更高福利，因为能促进下游进入。
We develop a model of successive oligopolies with endogenous entry, allowing for varying degrees of product differentiation and entry costs in both markets. We show that downstream conditions dominate the overall profitability of the two‐tier structure while upstream conditions mainly affect the distribution of profits. We analyze how two‐part tariffs and resale price maintenance shape the endogenous market structure and study their welfare effects. In contrast to previous literature, we find that welfare under linear prices can be larger than under twopart tariffs although the latter avoids double marginalization. This is because linear prices induce more downstream market entry.