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This paper shows the effect of commitment from the monopolist on the social welfare. When monopolists can make commitment about his pattern of innovation, the innovation pace is slower than that where he can only react to consumers' expectations, and the social welfare gets worse. Consider the frequency of introducing new products, contrary to Hoppe & Lee's conclusions, the deterrence for entry could play a positive effect on social welfare.
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Niu et al. (2011) studied this question.
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