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Organizational Governance, Leadership, and the Influence of Competition

  • Michael Kopel
  • Clemens Löffler

This paper studies the emergence of firm asymmetry as an equilibrium outcome. We consider differentiated Cournot and Bertrand duopolies where firms endogenously select their organizational governance and their timing strategy. For Cournot competition asymmetric and symmetric equilibria may occur. In an asymmetric equilibrium, firms always select different organizational structures. In Bertrand competition, firms always select different timing strategies at the market stage, but may select the same organizational structure. For Bertrand competition we observe that firm profits are nonmonotonic in the intensity of competition, so that firms might be better off if the intensity of competition between firms increases.

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Article provided by Mohr Siebeck, Tübingen in its journal Journal of Institutional and Theoretical Economics.

Volume (Year): 168 (2012)
Issue (Month): 3 (September)
Pages: 362-392

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Handle: RePEc:mhr:jinste:urn:sici:0932-4569(201209)168:3_362:oglati_2.0.tx_2-r
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  1. David Besanko & Ulrich Doraszelski, 2004. "Capacity Dynamics and Endogenous Asymmetries in Firm Size," RAND Journal of Economics, The RAND Corporation, vol. 35(1), pages 23-49, Spring.
  2. AMIR, Rabah & GARCIA, Filomena & KNAUFF, Malgorzata, 2006. "Endogenous heterogeneity in strategic models: symmetry-breaking via strategic substitutes and nonconcavities," CORE Discussion Papers 2006008, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  3. BELLEFLAME, Paul & VERGARI, Cecilia, . "Incentives to innovate in oligopolies," CORE Discussion Papers RP 2325, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  4. Basu, Kaushik, 1995. "Stackelberg equilibrium in oligopoly: An explanation based on managerial incentives," Economics Letters, Elsevier, vol. 49(4), pages 459-464, October.
  5. Siegfried K. Berninghaus, 2003. "Now or Later?--Endogenous Timing of Threats," Theory and Decision, Springer, vol. 55(3), pages 235-256, November.
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