Modeling policy issues in a world of imperfect competition

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Standard

Modeling policy issues in a world of imperfect competition. / Dierker, Egbert; Grodal, Birgit.

I: Scandinavian Journal of Economics, Bind 100, Nr. 1, 1998, s. 153-179.

Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt

Harvard

Dierker, E & Grodal, B 1998, 'Modeling policy issues in a world of imperfect competition', Scandinavian Journal of Economics, bind 100, nr. 1, s. 153-179. https://doi.org/10.1111/1467-9442.00095

APA

Dierker, E., & Grodal, B. (1998). Modeling policy issues in a world of imperfect competition. Scandinavian Journal of Economics, 100(1), 153-179. https://doi.org/10.1111/1467-9442.00095

Vancouver

Dierker E, Grodal B. Modeling policy issues in a world of imperfect competition. Scandinavian Journal of Economics. 1998;100(1):153-179. https://doi.org/10.1111/1467-9442.00095

Author

Dierker, Egbert ; Grodal, Birgit. / Modeling policy issues in a world of imperfect competition. I: Scandinavian Journal of Economics. 1998 ; Bind 100, Nr. 1. s. 153-179.

Bibtex

@article{ab168cd074c611dbbee902004c4f4f50,
title = "Modeling policy issues in a world of imperfect competition",
abstract = "General equilibrium theory constitutes a sound basis for the discussion of policy issues if firms do not have market power. However, if firms influence prices strategically, the concept of profits loses its meaning due to the price normalization problem. Hence, it is unclear how to model the behavior of oligopolistic firms. In order to provide a conceptual foundation for the analysis of policy issues in the case of imperfect competition, we discuss ways to formulate the objective of a strategic firm. In particular, we investigate the concept of real wealth maximization that is based on profits as well as on shareholders' aggregate demand",
author = "Egbert Dierker and Birgit Grodal",
year = "1998",
doi = "10.1111/1467-9442.00095",
language = "English",
volume = "100",
pages = "153--179",
journal = "Scandinavian Journal of Economics",
issn = "0347-0520",
publisher = "Wiley-Blackwell",
number = "1",

}

RIS

TY - JOUR

T1 - Modeling policy issues in a world of imperfect competition

AU - Dierker, Egbert

AU - Grodal, Birgit

PY - 1998

Y1 - 1998

N2 - General equilibrium theory constitutes a sound basis for the discussion of policy issues if firms do not have market power. However, if firms influence prices strategically, the concept of profits loses its meaning due to the price normalization problem. Hence, it is unclear how to model the behavior of oligopolistic firms. In order to provide a conceptual foundation for the analysis of policy issues in the case of imperfect competition, we discuss ways to formulate the objective of a strategic firm. In particular, we investigate the concept of real wealth maximization that is based on profits as well as on shareholders' aggregate demand

AB - General equilibrium theory constitutes a sound basis for the discussion of policy issues if firms do not have market power. However, if firms influence prices strategically, the concept of profits loses its meaning due to the price normalization problem. Hence, it is unclear how to model the behavior of oligopolistic firms. In order to provide a conceptual foundation for the analysis of policy issues in the case of imperfect competition, we discuss ways to formulate the objective of a strategic firm. In particular, we investigate the concept of real wealth maximization that is based on profits as well as on shareholders' aggregate demand

U2 - 10.1111/1467-9442.00095

DO - 10.1111/1467-9442.00095

M3 - Journal article

VL - 100

SP - 153

EP - 179

JO - Scandinavian Journal of Economics

JF - Scandinavian Journal of Economics

SN - 0347-0520

IS - 1

ER -

ID: 155236