Extensions

Claude d’Aspremont () and Rodolphe Dos Santos Ferreira
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Claude d’Aspremont: Université Catholique de Louvain

Chapter Chapter 4 in The Economics of Competition, Collusion and In-between, 2021, pp 115-155 from Springer

Abstract: Abstract The purpose of this chapter is to show, by examples, how our canonical model can be extended to address some well-known issues and how the possibility of considering competitive toughness as a continuous parameter may open new perspectives and new insights. As a first extension, important for applications in macroeconomics or international trade, we explicitly introduce a labour market and examine in particular the possibility of “involuntary” unemployment (in Keynes’ sense). This possibility is shown to result, with a fully adjustable wage, from the oligopolistic character of output markets. In the second extension we introduce a model with overlapping generations and study its distinct dynamic properties under strategic and non-strategic investment in capital. In the third extension, in a model of localised competition, we give another interpretation of our approach in terms of a delegation game.

Keywords: Involuntary unemployment; Strategic investment decisions; Endogenous fluctuations; Launhardt-Hotelling model; Delegation (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-63602-9_4

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DOI: 10.1007/978-3-030-63602-9_4

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