Autore: Georgantzis, Nikolaos
Titolo: Short-run and long-run Cournot equilibria in multiproduct industries
Periodico: European University Institute of Badia Fiesolana (Fi). Department of Economics - Working papers
Anno: 1994 - Fascicolo: 23 - Pagina iniziale: 1 - Pagina finale: 19

A number of multiproduct firms participate in the markets for two goods, competing to a number of single-product firms in each market. Although the joint production of cost substitutes is inefficient, participation in both markets yields, under a broad range of conditions, higher profits than participation in only one of them. Inefficient multiproduct firms may be contained in a long-run equilibrium configuration. If such configurations contain integer number of firms — instead of fractions of them — inefficient industry configurations are more likely to be sustained in the long run.


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Testo completo: http://hdl.handle.net/1814/502

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