General equilibrium with imperfect competition
The objective of a firm is not well-defined if firms have market power. We present an example of Cournot-Walras competition in order to shed light on this problem and to motivate the concept of real wealth maximization that B. Grodal and E. Dierker have proposed as the firm's objective. (authors' ab...| Link(s) zu Dokument(en): | IHS Publikation |
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| Hauptverfasser: | , |
| Format: | Article in Academic Journal PeerReviewed |
| Veröffentlicht: |
Wiley
2006
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| Zusammenfassung: | The objective of a firm is not well-defined if firms have market power. We present an example of Cournot-Walras competition in order to shed light on this problem and to motivate the concept of real wealth maximization that B. Grodal and E. Dierker have proposed as the firm's objective. (authors' abstract) |
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