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Beyond Illyria: Workers' Firm in Mixed Oligopoly

Flavio Delbono, Diego Lanzi and Carlo Reggiani ()

Working Papers from Dipartimento Scienze Economiche, Universita' di Bologna

Abstract: We rationalize several facts emerging from the recent empirical research on cooperatives owned by workers (workers’ firms, WF) as: the concern of WFs for employment; the interplay between membership and workplace safeguard within WFs; the different reaction to shocks between WFs and profit-making firms. We do so by means of a new model of WFs short-run behavior in mixed duopoly. We consider an industry in which a WF competes with a profit maximizing company and we innovate with respect to the conventional Illyrian objective function. We then reconcile the literature on labor-concerned maximands in competitive markets and the one dealing with WFs in oligopolistic markets under the Illyrian maximand.

JEL-codes: L13 L21 P13 (search for similar items in EconPapers)
Date: 2022-03
New Economics Papers: this item is included in nep-ban, nep-bec, nep-com and nep-ind
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