Ownership structure and profit maximization in general equilibrium models of monopolistic competition

Autor:	Vincent Boitier
Rok vydání:	2023
Předmět:	Business and International Management General Economics Econometrics and Finance
Zdroj:	Economics and Business Letters. 12:85-90
ISSN:	2254-4380
DOI:	10.17811/ebl.12.1.2023.85-90
Popis:	Using Hart (1979, 1985) and Mas-Colell (1984), I defend the idea that the standard ownership structure is somewhat problematic in general equilibrium models of monopolistic competition because profit maximization is not a justified objective of the firm. I then advocate that a solution to overcome this methodological issue is when ownership is disproportionally concentrated among households.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::30cfd46e60c9d34e0d20b057d85be358 https://doi.org/10.17811/ebl.12.1.2023.85-90 Zobrazit plný text záznamu Plný text ve formátu PDF