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| Tekijä: | Demougin, D. Tschernig, R. |
| Otsikko: | Costless revelation of Private Information in a Duopoly |
| Lehti: | Journal of Institutional and Theoretical Economics
1993 : JUN, VOL. 149, p. 443-463 |
| Asiasana: | DUOPOLY MODELS MANAGEMENT FUNCTIONAL ANALYSIS |
| Kieli: | eng |
| Tiivistelmä: | In this article the authors study from a normative perspective the objective function of management in the context of a simple duopoly model, i.e. in an environment with significant market power. The article shows that even if the objective function of management is not to maximize profits, that does not invalidate the profit-maximization paradigm. The presence of competition can alleviate the problem of efficiency usually created by asymmetric information, if the information is correlated across firms. |
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