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Recent evidence in the support of oligopolistic cooperation: a network approach

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  • Mitchell, Green

Abstract

This paper seeks to retest the oligopolistic cooperation hypothesis of market structure from the Centralized Private Sector Planning literature, using 2010 data on corporate board membership and recent advances in social network analysis. Centrality measures are calculated based upon the corporate governance network emerging from common board membership on Fortune 100 firms. The findings herein suggest that not only does oligopolistic cooperation continue to characterize the US economy, but directors from the finance and insurance sector occupy a significantly more central role in the planning process than those of other industries.

Suggested Citation

  • Mitchell, Green, 2012. "Recent evidence in the support of oligopolistic cooperation: a network approach," MPRA Paper 42304, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:42304
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    File URL: https://mpra.ub.uni-muenchen.de/43074/1/MPRA_paper_43074.pdf
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    References listed on IDEAS

    as
    1. Veblen, Thorstein, 1904. "Theory of Business Enterprise," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number veblen1904.
    2. John R. Munkirs & James I. Sturgeon, 1985. "Oligopolistic Cooperation: Conceptual and Empirical Evidence of Market Structure Evolution," Journal of Economic Issues, Taylor & Francis Journals, vol. 19(4), pages 899-921, December.
    3. F. Gregory Hayden & Kellee R. Wood & Asuman Kaya, 2002. "The Use of Power Blocs of Integrated Corporate Directorships to Articulate a Power Structure: Case Study and Research Recommendations," Journal of Economic Issues, Taylor & Francis Journals, vol. 36(3), pages 671-706, September.
    4. F. Gregory Hayden, 1986. "Defining and Articulating Social Change through the Social Fabric Matrix and System Digraph," Journal of Economic Issues, Taylor & Francis Journals, vol. 20(2), pages 383-392, June.
    5. Kurt Stephenson & F. Gregory Hayden, 1995. "Comparison of the Corporate Decision Networks of Nebraska and the United States," Journal of Economic Issues, Taylor & Francis Journals, vol. 29(3), pages 843-869, September.
    6. John R. Munkir & Janet T. Knoedler, 1987. "The Existence and Exercise of Corporate Power: An Opaque Fact," Journal of Economic Issues, Taylor & Francis Journals, vol. 21(4), pages 1679-1706, September.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    John Munkirs; Centralized Private Sector Planning; Social Network Analysis; Oligopolistic Cooperation;
    All these keywords.

    JEL classification:

    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification
    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection

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