The inadequacy of financial markets and their failures in the task of accomplishing the triple task of allocating resources, evaluating risk and, monitoring management has been used to justify the privatisation of industry. The French privatisations have yielded the following benefits: shares...

In this article, we study the convergence of a sequence of strategic equilibria in a model with a hierarchy of leaders and followers and where firms express their strategy in terms of both prices and quantity. In the duopoly case with an homogenous product, such a strategy set leads to...

In this article, we consider an ordered Stackelberg framework. In such a context, leadership is the preferred position. We show, using a linear model, with constant average costs, that the larger the number of a firm's followers is, the larger its profit. However, as the number of firms...

We show in this article the existence of endogenous rationing in a leader-follower duopoly with differentiated products. The duopolists compete in both prices and quantities and each may choose a price-quantity pair within the residual demand it faces in equilibrium. Therefore they are involved...