The purpose of this paper is to (i) demonstrate that the behavior of the relative profit rates at financial crisis … junctures in a dual financial system could be different than that of the other periods, (ii) show that relative profit rates … relative profit rates and facilitate the control of possible erratic fluctuations at the crisis junctures in such systems. We …

differentiated goods in which each firm maximizes its relative profit. We consider general demand and cost functions, and show that … the choice of strategic variables is irrelevant in the sense that the conditions of relative profit maximization for the … they determine the values of their strategic variables. We define the relative profit of a firm as the ratio of its profit …

profits. The relative profit of each firm is the difference between its profit and the average of the profits of other firms … under relative profit maximization is smaller than the equilibrium number of firms under absolute profit maximization. This … is because each firm is more aggressive and produces larger output under relative profit maximization than under absolute …

We compare formulations of relative profit maximization in duopoly with differentiated goods, 1) (Difference case …

larger the weight on the relative profit, the narrower and lower the range of the equilibrium price. In this sense relative … profit maximization is more aggressive than absolute profit maximization. …

larger the weight on the relative profit, the narrower and lower the range of equilibrium prices. In this sense, relative … profit maximization is more aggressive than absolute profit maximization. …

substitutable goods and each firm maximizes its relative profit that is the difference between its profit and the profit of the …

relative profit that is the difference between its profit and the profit of the rival firm. We show that the equilibrium output …