The Effect of Strategic Firm Objectives on Competition
- By Daniel Cracau1
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View Affiliations Hide Affiliations1 University of Magdeburg, Faculty of Economics and Management, Universitaetsplatz 2, 39106 Magdeburg, Germany.
- Source: Firms' Strategic Decisions: Theoretical and Empirical Findings: Volume 1 , pp 170-181
- Publication Date: April 2015
- Language: English
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I present a generalized form of firms objective function. Besides classical own profit maximization, I add two distinct concerns: consumer surplus and competitors profits. This generalization can account for public and partially privatized firms, socially concerned firms as well as partially cooperating firms. I study a simple duopoly game to compare and discuss the effects of both concerns on equilibrium outcomes.
Hardbound ISBN:
9781681080390
Ebook ISBN:
9781681080383
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