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Industry Restructuring: A Case for Affirmative Action

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  • Villeneuve, Bertrand
  • Zhang, Vanessa Yanhua

Abstract

We analyze the trade-off faced by authorities envisaging a one-shot structural re-form in a capitalistic industry. A structure is modeled as (1) a sharing of productive capital at some time and (2) a sharing of scarce sites or any other non-reproducible assets. These two distinct dimensions of policy illustrate the importance of a dy-namic theory in which firms durably differ in several respects. Though equalization of endowments and rights is theoretically optimal, realistic constraints force com-petition authorities to adopt second-best solutions. Affirmative action here is the policy that recognizes the fact that, under certain circumstances, helping the dis-advantaged contributes maximally to social surplus.

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Paper provided by Paris Dauphine University in its series Economics Papers from University Paris Dauphine with number 123456789/10217.

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Date of creation: Jan 2013
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Publication status: Published in Annales d'Economie et de Statistique, 2013, no. 109
Handle: RePEc:dau:papers:123456789/10217

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Keywords: Politique de la concurrence; accumulation de capacité; concurrence de Cournot; duopole asymétrique; régulation cohérente dans le temps; Competition policy; capacity accumulation; Cournot competition; asymmetric duopoly; regulatory consistency;

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  1. David Besanko & Ulrich Doraszelski, 2002. "Capacity Dynamics and Endogenous Asymmetries in Firm Size," Computing in Economics and Finance 2002, Society for Computational Economics 196, Society for Computational Economics.
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  8. McAfee, R Preston & Williams, Michael A, 1992. "Horizontal Mergers and Antitrust Policy," Journal of Industrial Economics, Wiley Blackwell, Wiley Blackwell, vol. 40(2), pages 181-87, June.
  9. Perry, Martin K & Porter, Robert H, 1985. "Oligopoly and the Incentive for Horizontal Merger," American Economic Review, American Economic Association, American Economic Association, vol. 75(1), pages 219-27, March.
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  11. Reynolds, Stanley S, 1987. "Capacity Investment, Preemption and Commitment in an Infinite Horizon Model," 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. 28(1), pages 69-88, February.
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