The objective of a privately owned firm under imperfect competition

DOI10.1007/S00199-007-0289-5MaRDI QIDQ943350zbMATH OpenOpenAlexFDO

Authors Camelia Bejan

Publication date 9 September 2008

Published in Economic Theory (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1007/s00199-007-0289-5

zbMATH Keywords

firm`s objective, shareholder`s preference, imperfect competition, general equilibrium

Mathematics Subject Classification ID

Production theory, theory of the firm (91B38) General equilibrium theory (91B50)

Review text

This paper proposes a model of imperfect competition among privately owned firms that act in the best interest of their shareholders. The existence of a solution for the model is proved under weaker conditions than the ones generally used in the literature. In particular, the results did not require the existence of a continuous equilibrium price selection or concavity assumptions on the profit function.

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Cites work

• Discontinuous Games and Endogenous Sharing Rules
• Equilibrium correspondence of linear exchange economies
• scientific article; zbMATH DE number 3866998 (Why is no real title available?)
• scientific article; zbMATH DE number 1795155 (Why is no real title available?)
• Infinite dimensional analysis. A hitchhiker's guide.
• New Concepts and Techniques for Equilibrium Analysis
• The Classical Theorem on Existence of Competitive Equilibrium
• The price normalization problem in imperfect competition and the objective of the firm

Cited in

(12)

• On the objective of firms under uncertainty with stock markets
• Existence of equilibrium in the Helpman-Krugman model of international trade with imperfect competition
• Indeterminacy of Cournot-Walras equilibrium with incomplete markets
• Investment and financing in incomplete markets
• On the inefficiency of perfect price discrimination
• Production externalities: internalization by voting
• Modelling Policy Issues in a World of Imperfect Competition
• Ownership structure and efficiency in large economies
• scientific article; zbMATH DE number 1795155 (Why is no real title available?)
• Corporate self-regulation of imperfect competition
• An existence theorem for Cournot-Walras equilibria in a monopolistically competitive economy
• A general equilibrium analysis of corporate control and the stock market

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