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Competition and industrial coordination

Author

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  • Jackie Krafft

    (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis - UCA - Université Côte d'Azur - CNRS - Centre National de la Recherche Scientifique)

  • Jacques-Laurent Ravix

    (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis - UCA - Université Côte d'Azur - CNRS - Centre National de la Recherche Scientifique)

Abstract

This chapter aims at studying the adjustment process implemented by competing firms. The process of competition between firms may lead to different positions. Competition may arrive at perfect coordination and the adjustment process exhibits a convergence to an equilibrium. Competition may also imply a more problematic position of imperfect coordination and the emergence of durable and cumulative disequilibria. In both situations, specific institutional arrangements such as mergers and acquisitions, cooperation and alliances have to be elaborated by firms to prevent the occurrence of these disequilibria and, to some extent, to organise the process of competition. In fact, the role of business institutions is different with respect to each type of coordination. Being considered as a simple response to market failures when coordination is perfect, they must be endowed with a more endogenous status when coordination is imperfect.

Suggested Citation

  • Jackie Krafft & Jacques-Laurent Ravix, 2000. "Competition and industrial coordination," Post-Print hal-00212287, HAL.
  • Handle: RePEc:hal:journl:hal-00212287
    Note: View the original document on HAL open archive server: https://hal.archives-ouvertes.fr/hal-00212287
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    Cited by:

    1. Jackie Krafft & Jacques-Laurent Ravix, 2005. "The governance of innovative firms: An evolutionary perspective," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 14(3), pages 125-147.
    2. Jean-Luc Gaffard & Jackie Krafft, 2001. "Telecommunications: understanding the dynamics of the organization of the industry," Post-Print hal-00203655, HAL.
    3. Krafft, Jackie, 2004. "Frontières de la firme et de l’industrie : Les perspectives récentes issues de la rencontre entre l’histoire industrielle et l’économie industrielle," L'Actualité Economique, Société Canadienne de Science Economique, vol. 80(1), pages 109-135, Mars.

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