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Process Innovation and the Persistence of Monopoly with Labour-Managed Firms

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  • L. Lambertini

Abstract

The issue of the persistence of monopoly when at least one labour-managed firm takes part in an auction for a cost-reducing innovation is tackled in this paper. It is shown that (i) when the incumbent is a profit-maximizing firm while the entrant is a labour-managed firm, monopoly persists; (ii) when both firms are labour-managed, monopoly persists only if the technology initially employed by the incumbent is highly inefficient as compared to the new one; and, finally, (iii) when the incumbent is labour-managed while the outsider is a profit seeking agent, then entry always occurs and monopoly changes hands.

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Bibliographic Info

Paper provided by Dipartimento Scienze Economiche, Universita' di Bologna in its series Working Papers with number 268.

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Date of creation: Jan 1997
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Handle: RePEc:bol:bodewp:268

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  1. Richard J. Gilbert., 1988. "Mobility Barriers and the Value of Incumbency," Economics Working Papers, University of California at Berkeley 8895, University of California at Berkeley.
  2. Reinganum, Jennifer R., 1982. "Uncertain Innovation and the Persistence of Monopoly," Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences 431, California Institute of Technology, Division of the Humanities and Social Sciences.
  3. Gilbert, Richard J & Newbery, David M G, 1982. "Preemptive Patenting and the Persistence of Monopoly," American Economic Review, American Economic Association, American Economic Association, vol. 72(3), pages 514-26, June.
  4. Hamilton, J.H. & Slutsky, S.M., 1988. "Endogenous Timing In Duopoly Games: Stackelberg Or Cournot Equilibria," Papers, Florida - College of Business Administration 88-4, Florida - College of Business Administration.
  5. Jeremy I. Bulow & John Geanakoplos & Paul D. Klemperer, 1983. "Multimarket Oligopoly," Cowles Foundation Discussion Papers, Cowles Foundation for Research in Economics, Yale University 674, Cowles Foundation for Research in Economics, Yale University.
  6. Cremer, Helmuth & Cremer, Jacques, 1992. "Duopoly with employee-controlled and profit-maximizing firms: Bertrand vs Cournot competition," Journal of Comparative Economics, Elsevier, vol. 16(2), pages 241-258, June.
  7. Harris, Christopher J & Vickers, John S, 1985. "Patent Races and the Persistence of Monopoly," Journal of Industrial Economics, Wiley Blackwell, Wiley Blackwell, vol. 33(4), pages 461-81, June.
  8. Dixit, Avinash K, 1986. "Comparative Statics for Oligopoly," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 27(1), pages 107-22, February.
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Cited by:
  1. Cuccia, Tiziana & Cellini, Roberto, 2007. "Workers' enterprises in the case of arts production," MPRA Paper 5192, University Library of Munich, Germany.
  2. Saha, Souresh, 2014. "Firm's objective function and product and process R&D," Economic Modelling, Elsevier, Elsevier, vol. 36(C), pages 484-494.

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