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Deregulation and competition in Japanese intercity coach industry

机译：日本跨越教练行业的放松管制与竞争

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摘要

In this paper, we investigate the economic effects of deregulation in Japan's intercity coach industry. Specifically, we examine the intensity of competition in the industry using a unique dataset, to evaluate the economic effects of two major deregulations in 2002 and 2013. The absence of organized data means there is no previous research that quantitatively evaluates the deregulations. We collect data capturing the entry of bus operating companies by web-scraping and use a structural estimation method developed in econometrics for the purpose of measuring the degree of competition. Our em-pirical analysis yields the following three main results. First, we find that the markup ratios always exceed 1, which indicates that the entry of one additional firm always intensifies competition. Specifically, the markup gained by one firm under duopoly is estimated to be about three quarters of that under monopoly. Second, the competitive effect of an additional entry decreases as the number of incumbents increases. This result is obtained irrespective of the mode of competition. Third, we find that the services offered by firms in the industry are significantly differentiated. Counterfactual analysis reveals that additional 0.76 firms can enter a market on average by differentiating their products from each other. These results provide useful insights into the development of competition policy pertaining to the contemporary transportation industry.
机译：在本文中，我们调查了日本城市跨越教练行业的经济影响。具体而言，我们使用独特的数据集来研究行业中的竞争强度，以评估2002年和2013年两大探险的经济影响。没有有组织的数据意味着没有以前的研究，这些研究可以定量评估放松管制。我们通过Web删除来收集捕获总线运营公司的数据，并使用经济学中开发的结构估计方法，以衡量竞争程度。我们的EM-Pirical分析产生以下三个主要结果。首先，我们发现标记比率总是超过1，这表明一个额外的公司的入境总是加剧竞争。具体而言，在二极管下，一家公司获得的标记估计为垄断下的三个季度。其次，随着现有人的数量增加，额外进入的竞争效果降低。无论竞争模式如何，都可以获得该结果。第三，我们发现业内公司提供的服务受到显着差异化。反事实分析表明，额外的0.76家公司可以平均进入市场，通过将其互相区分其产品。这些结果提供了有用的见解，以发展与当代交通业有关的竞争政策。

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