Private Monopoly and Restricted Entry—Evidence from the Notary Profession
研究了拉丁公证制度下地理进入限制的政策目标，发现其主要服务于生产者利益，改革可显著提升福利并惠及消费者。
We study entry restrictions in a private monopoly: the Latin notary system. Under this widespread system, the state grants notaries exclusive rights to certify important economic transactions, including real estate. To uncover the current policy goals behind the geographic entry restrictions, we develop an empirical entry model that incorporates a spatial demand model and a multioutput production model. We find that the entry restrictions serve primarily producer interests and give only a small weight to consumer surplus. We show how reform would generate considerable welfare improvements and imply a substantial redistribution toward consumers without threatening geographic coverage.