Ownership Structure and Efficiency in Large Economies

We analyze the limit behavior of sequences of oligopolistic equilibria in which firms follow objectives consistent with their shareholders' interests. We show that the efficiency of the limit allocation depends on how firms' shares are distributed across consumers, and provide a characterization of the class of ownership structures that lead to Walrasian equilibrium allocations in the limit.

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Year of publication:	2009-10-06
Authors:	Bejan, Camelia ; Bidian, Florin
Institutions:	Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München
Subject:	the objective of the firm \| oligopolistic competition \| ownership structure \| efficiency

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Extent:	application/pdf
Series:	MPRA Paper.
Type of publication:	Book / Working Paper
Classification:	D21 - Firm Behavior ; C02 - Mathematical Methods ; D51 - Exchange and Production Economies ; D43 - Oligopoly and Other Forms of Market Imperfection ; G30 - Corporate Finance and Governance. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008544690