search query: @author Hay, D. A. / total: 4
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| Author: | Hay, D. A. Liu, G. S. |
| Title: | The efficiency of firms: What difference does competition make? |
| Journal: | Economic Journal
1997 : MAY, VOL. 107:442, p. 597-617 |
| Index terms: | COMPANIES EFFICIENCY COMPETITION MARKET SHARE |
| Language: | eng |
| Abstract: | The efficiency of a company relative to others determines its market share in Cournot oligopoly, and this relationship gives an incentive to efficiency improvement. Where company behavior is more competitive, the incentives are greater. Firm efficiency components are identified by frontier production function techniques: average efficiency of firms relative to te frontier, technical change, efficiency of firms relative to its own "best practice" in each period. To improve efficiency relative to its "best practice", short run declines in market shares and profits induce the firm. |
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