Dynamic monopoly with nondurable goods

Article Abstract:

A model of dynamic monopoly, wherein delivery does not take place until all trading is completed, is examined to determine if it is possible that a nondurable good monopolist would attain efficiency by repeatedly posting prices before delivery. It is concluded that an efficient outcome is possible under complementary ideal conditions if buyers recognize the effect of current purchases on future prices. However, if buyers ignore these effects but accurately predict future prices, market reopening prior to delivery may not produce efficient outcome.

Economics, Research and Development in the Social Sciences and Humanities, Economic aspects, Monopolies, Nondurable goods

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Endogenous firm efficiency in a Cournot principal-agent model

Article Abstract:

An analysis of endogenous firm efficiency based on the Cournot principal-agent model is presented. The analysis focuses on the development of a fee schedule which optimizes marginal payoff from greater firm efficiency as greater managerial efforts are induced by marginal costs. It is shown that under Cournot conditions, firm efficiency exhibits an inverse relationship with firm market share.

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Efficiency and surplus bounds in Cournot competition

Article Abstract:

Bounds on the ratios of deadweight loss and consumer surplus to producer under Cournot competition are derived and to do so a parameterization of the degree of curvature of market demand, using the parallel concepts of p-concavity and p-convexity, is introduced.

United States, Forecasts, trends, outlooks, Forecasts and trends, Market trend/market analysis, Marketing research, Surplus (Accounting), Economic theory, Consumer research

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