Ohkawa, Takao; Shinkai, Tetsuya; Okamura, Makoto; … - School of Economics, Kwansei Gakuin University - 2012
business organizational form, while in the second stage, each behaves in a Cournot fashion. The following conclusions are …We address the following question: Why do most large firms select limited liability as their business organizational … form in the real world? We construct a two-stage game. In the first stage, each of the oligopolistic firms chooses its …
