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On a Shareholder Constrained Efficient Criterion for Strategic Firms

Author

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  • VENTURA , Luigi

    (University G. D'Annunzio and CORE, Universite catholique de Louvain)

Abstract

In this note the decision problem of a strategic firm in a general equilibrium setting is analyzed. It is shown that under many respects the problems arising are similar to those encountered in an incomplete markets set-up, and a well known criterion used under incompleteness of markets can be applied to the imperfectly competitive framework. It is also shown under what conditions profit maximization leads to the same production decision as utility maximization.

Suggested Citation

  • VENTURA , Luigi, 1994. "On a Shareholder Constrained Efficient Criterion for Strategic Firms," LIDAM Discussion Papers CORE 1994066, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    • Handle: RePEc:cor:louvco:1994066
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    File URL: https://sites.uclouvain.be/core/publications/coredp/coredp1994.html
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    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • D52 - Microeconomics - - General Equilibrium and Disequilibrium - - - Incomplete Markets
    • D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General

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