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Industrial organization with profit rate maximing firms

Author

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  • de MESNARD, Louis

    (LATEC - CNRS URA 342 - Université de Bourgogne)

Abstract

We study the impact on industrial organization of the switching of objective function, from pure profit to profit rate maximization. The output level of firm is lower at optimum. This lead to a new conception of efficiency. Cases of no coordination are considered. In perfect competition, price signal disappears; factors remain paid at their marginal productivity, but modified. In imperfect competition, reaction functions may vanish even if collusion remains possible; limit of oligopoly remains perfect competition of profit rate; the paradox of Bertrand may remain; a new concept is studied: mixed duopoly, where firms can choose and change their objective.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • de MESNARD, Louis, 1995. "Industrial organization with profit rate maximing firms," LATEC - Document de travail - Economie (1991-2003) 1995-13, LATEC, Laboratoire d'Analyse et des Techniques EConomiques, CNRS UMR 5118, Université de Bourgogne.
    • Handle: RePEc:lat:lateco:1995-13
    as

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