摘要：This study examines a mixed duopoly in differentiated products in which a partially privatized firm and a private firmsimultaneously or sequentially compete in quantity after the government sets the optimal degree of privatization for thepartially privatized firm. Comparing the social welfare when the timing of decision making is different, we present thefollowing results. First, social welfare in Cournot equilibrium is equal to that in the Stackelberg equilibrium when apartially privatized firm is the leader. Second, social welfare is the largest in the Stackelberg equilibrium when apartially privatized firm is the follower.
