在完全放松進(jìn)入規(guī)制條件下，建立一個(gè)進(jìn)入者決策的兩階段模型，并運(yùn)用實(shí)物期權(quán)方法研究進(jìn)入者的進(jìn)入決策，給出柔性條件下的進(jìn)入決策規(guī)則。研究顯示，進(jìn)入者是否進(jìn)入取決于觀察到的市場(chǎng)需求狀態(tài)與門閾狀態(tài)的對(duì)比關(guān)系，而門閾狀態(tài)值大小又取決于進(jìn)入成本和在位者規(guī)模。所以，完全放松進(jìn)入規(guī)制不僅有利于改善電信業(yè)的競爭狀態(tài)，而且還因盲目的網(wǎng)絡(luò)重復(fù)建設(shè)得到避免而有利于電信業(yè)技術(shù)的進(jìn)步。Under the entire entry deregulation, a two-stage model of entrant decision is established. Researching the entrant decision by utilizing the real-option approach, the entry decision rules with flexibility are given. The result shows that the entrant’s entry is decided by the comparative relationship between the market demand and the threshold, and the value of threshold depends on the entry cost and the scale of the incumbent. Therefore, the entire entry deregulation not only optimizes the telecommunication industry competition status, but also promotes the telecommunication industry technology.