The Oligopolistic Industry Under Rivalrous Consonance with Target-Rate-of-Return Objectives

Robert E. Kuenne

Chapter 7 in Issues in Contemporary Microeconomics and Welfare, 1985, pp 281-308 from Palgrave Macmillan

Abstract: Abstract The theory of rivalrous consonance as a tool of analysis of oligopolistic behaviour is grounded upon the premise that every oligopolistic industry is characterized by a de facto power structure. Each firm has, within its corporate consciousness, a decision-shaping image of each of its rivals that includes that rival’s market threat, leadership or followership status, aggressive or passive bent, objectives, and many other facets of behaviour or attitude relevant to the industry in question. Moreover, each firm may have, over and beyond these one-to-one visions of its relations to its rivals, a sense of obligation to the industry, springing notably from the sector’s reputation for dependable products, technological advance, or stable behaviour.

Keywords: Target Objective; Power Structure; Target Rate; Specific Industry; General Equilibrium Theory (search for similar items in EconPapers)
Date: 1985
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-06876-0_7

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DOI: 10.1007/978-1-349-06876-0_7

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