Coordination and profit rate maximization

Louis de Mesnard

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Abstract: We study the effects over the coordination between firms of the choice of another objectivefunction for the firm: the profit rate maximization which seems to be closer to business practice than the classical pure profit maximization. After recalling the effect of the new objective function over the optimum (the optimal production is lower), two cases are considered : perfect competition (the price signal disappear), and duopoly-oligopoly (the functions of reactions may vanish). (FR) Nous étudions les effets sur la coordination inter-firmes du choix d'une autre fonction objectif pour la firme: la maximisation du taux de profit qui semble être plus proche de la pratique des affaires que la classique maximisation du profit pur. Après avoir rappelé l'effet de la nouvelle fonction objectif sur l'optimum (la production optimale est plus faible), deux cas sont considéré : la concurrence parfaite (le signal prix disparaît), et le duopole-oligopole (les fonctions de réactions peuvent disparaître).

Keywords: Maximization; Statistics; Control theory; Operational research; Microeconomic behaviours of fishermen; Profit rate; Profit; Coordination; Automatique; Recherche opérationnelle (search for similar items in EconPapers)
Date: 1995
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Published in [Research Report] Laboratoire d'analyse et de techniques économiques(LATEC). 1995, 24 p., Figure, ref. bib. : 6 ref

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