在完全放松進入規(guī)制條件下，建立一個進入者決策的兩階段模型，并運用實物期權(quán)方法研究進入者的進入決策，給出柔性條件下的進入決策規(guī)則。研究顯示，進入者是否進入取決于觀察到的市場需求狀態(tài)與門閾狀態(tài)的對比關(guān)系，而門閾狀態(tài)值大小又取決于進入成本和在位者規(guī)模。所以，完全放松進入規(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.