Baldani, Jeffrey; Michl, Thomas R. - In: Review of Radical Political Economics 32 (2000) 1, pp. 104-118
We examine the implications of biased-lower marginal, but higher fixed, cost-technical change in a model of oligopoly. Such changes create an incentive for firms to adopt new technologies in a quest for increased output, market share, and profits. These individual incentives lead to a prisoner's...