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Investissement, efficacité et coordination dans l'entreprise

Author

Listed:
  • Rodolphe Dos Santos Ferreira
  • Philippe Michel
  • Jacques Thépot

Abstract

[fre] Investissement, efficacité et coordination dans l'entreprise, . par Rodolphe Dos Santos Ferreira, Philippe Michel, Jacques Thépot.. . Un modèle d'investissement de l'entreprise permet de comparer deux types de comportement : l'un naïf, l'autre rationnel. Ils sont représentés par un jeu entre les services de planification et de prévision de l'entreprise : on a un équilibre de Nash dans le premier cas, un équilibre de Stackelberg dans le second. Le comportement naïf peut entraîner l'entreprise, selon ses anticipations optimistes ou pessimistes, dans une trajectoire inefficace de surinvestissement ou de désinvestissement excessif. [eng] Corporate Investment, Efficiency and Co-ordination, . by Rodolphe Dos Santos Ferreira, Philippe Michel, Jacques Thépot.. . On the basis of a corporate investment model, a comparison is made between two different types of behaviour, the one being irrational and the other rational. They are set up on the basis of a relationship between the firm's planning and forecasting departments: in the first instance, there is a Nash equilibrium, in the second a Stackelberg one. Irrational behaviour, because of its optimistic and pessimistic expectations, can lead a firm to follow either of two ineffective paths, unproductive over-investment or drastic under-investment. [spa] Inversiones, efîcacia y coordinaciôn de la empresa, . por Rodolphe Dos Santos Ferreira, Philippe Michel y Jacques Thépot.. . Un modelo de inversiones de la empresa permite comparar dos tipos de comportamiento, uno simple y otro racional, representados por un juego entre los servicios de planificación y de previsión de la empresa: en el primer caso se obtiene un equilibrio de Nash, y en el segundo un equilibrio de Stackelberg. El comportamiento simple puede llevar a la empresa, según sus anticipaciones optimistas o pesimistas, a una trayectoria ineficaz de superinversión o de desinversión excesiva. [ger] Investition, Leistungsfähigkeit und Koordination im Unternehmen, . von Rodolphe Dos Santos Ferreira, Philippe Michel, Jacques Thépot.. . Mit dem Investitionsmodell eines Unternehmens lassen sich zwei Arten von Verhaltensweisen miteinander vergleichen: die naive und die rationale Verhaltensweise. Beide können durch ein Spiel zwischen der Planungs- und der Prognoseabteilung des Unternehmens dargestellt werden. Im ersten Falle erhält man ein Nash-Gleichgewicht und im zweiten Falle ein Stackelberg-Gleichgewicht. Je nachdem, ob die Perspektiven optimistisch oder pessimistisch eingeschätzt werden, kann die naive Verhaltensweise das Unternehmen zu einer ineffizienten Politik der Überinvestition oder der übermäßigen Desinvestition veranlassen.

Suggested Citation

  • Rodolphe Dos Santos Ferreira & Philippe Michel & Jacques Thépot, 1992. "Investissement, efficacité et coordination dans l'entreprise," Économie et Prévision, Programme National Persée, vol. 102(1), pages 79-87.
    • Handle: RePEc:prs:ecoprv:ecop_0249-4744_1992_num_102_1_5277
    DOI: 10.3406/ecop.1992.5277
    Note: DOI:10.3406/ecop.1992.5277
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    References listed on IDEAS

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    1. Robert E. Lucas & Jr., 1967. "Adjustment Costs and the Theory of Supply," Journal of Political Economy, University of Chicago Press, vol. 75(4), pages 321-321.
    2. Michel, Philippe, 1982. "On the Transversality Condition in Infinite Horizon Optimal Problems," Econometrica, Econometric Society, vol. 50(4), pages 975-985, July.
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