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| Tekijä: | Sjostrom, T. |
| Otsikko: | Competition and the evolution of efficiency |
| Lehti: | Journal of Economic Behavior and Organization
1996 : JUL, VOL. 30:1, p. 25-44 |
| Asiasana: | ECONOMICS COMPETITION GROUPS |
| Kieli: | eng |
| Tiivistelmä: | This paper presents an evolutionary model of the relationship between inter-firm competition and intra-firm organizational or X-efficiency. The authors model X-inefficiency within the firm as a prisoner's dilemma effort-monitoring problem, whose evolution is influenced by external competitive pressure from other firms. A closed form stochastic equilibrium displaying "survival of the fittest" dynastic cycles is derived and analyzed. The main result is that there exists a well defined sense in which competition is a surprisingly powerful force for efficiency. |
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