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A Mixed Firm Objective Function: Some Instances of Bizarre Behaviour

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  • F. Delbono
  • G. Rossini

Abstract

We analyse the objective function of a mixed firm, i.e. a firm whose controllers have different objectives (profit and value added per worker). It seems that the optimal output behaves in a bizzarre manner near critical values of a weight parameter. Output jumps up or down whenever we approach the critical value respectively from above or from below.

Suggested Citation

  • F. Delbono & G. Rossini, 1991. "A Mixed Firm Objective Function: Some Instances of Bizarre Behaviour," Working Papers 114, Dipartimento Scienze Economiche, Universita' di Bologna.
    • Handle: RePEc:bol:bodewp:114
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