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A Note on the Relationship between Entry and Social Welfare in the Japanese Insurance Market


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Title: A Note on the Relationship between Entry and Social Welfare in the Japanese Insurance Market
Authors: Okura, Mahito
Authors (alternative): 大倉, 真人
Issue Date: May-2004
Publisher: Kwansei Gakuin University
Citation: International Review of Business, Vol.7, pp.61-68, March, 2004.
Abstract: The purpose of this paper is to consider the relationship between entry and social welfare in the Japanese insurance market. This paper has explained the entry problem using the Salop model and provided some meaningful results. The important results in this paper are as follows: (1) The number of insurance firms with no regulations is more than the number of insurance firms which achieve the socially desirable outcome (already described in Salop (1979)). (2) The upper price regulation can achieve the socially desirable outcome. (3) It may be difficult and ineffective for the regulator to institute the upper price regulation in the Japanese insurance market because the fixed entry cost is relatively large.
Keywords: product differentiation / the Salop model / upper price regulation
URI: http://hdl.handle.net/10069/5621
ISSN: 13426303
Type: Journal Article
Text Version: author
Appears in Collections:Articles in academic journal

Citable URI : http://hdl.handle.net/10069/5621

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