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Article Dans Une Revue Economics and Business Letters Année : 2023

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

Résumé

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.

Dates et versions

hal-04204661 , version 1 (12-09-2023)

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Citer

Vincent Boitier. Ownership structure and profit maximization in general equilibrium models of monopolistic competition. Economics and Business Letters, 2023, 12 (1), pp.85-90. ⟨10.17811/ebl.12.1.2023.85-90⟩. ⟨hal-04204661⟩

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