摘要：This paper is about limit pricing under complete information and intertemporal market
demands. If pre-entry and post-entry market demands are correlated, then limit pricing can be
an equilibrium strategy even under complete information without government intervention.
Furthermore, with government intervention, limiting entry via government dominates self-
limiting strategy for the incumbent monopolist. The entry regulation by the benevolent
government to prevent excess entry is exploited by the incumbent as a way to protect monopoly
position. As a result, the social welfare with entry regulation is lower than under pure market
equilibrium. The idea of this paper is general enough to be applied to other dynamic models of
sequential entry like a location model of product di#erentiation.
