@techreport{oai:ir.ide.go.jp:00052090,
 author = {Xiwei, Zhu and Gokan, Toshitaka},
 month = {Mar},
 note = {application/pdf, IDP000814_001, This study shows how the coexistence of online and offline firms affects
consumer welfare. By introducing two dimensions of heterogeneity in
productivity and quality, we find that the consumers' indirect utility under the
coexistence of online and offline firms is higher than that of only offline firms.
Specifically, we show that: (1) if the initial investment of online firms is small
enough or if the initial investment of offline firms is large enough, or (2) if the
fixed costs of offline firms are sufficiently large under the general distribution of
productivity and quality. Additionally, we find that the cutoff productivity level
of domestic online firms increases due to the cost-saving of the fixed costs
among online exporting firms, leading to the higher indirect utility compared to
the indirect utility without cost-saving.},
 title = {Does the coexistence of online and offline firms improve welfare?},
 year = {2021}
}