Strategic Investment in Technology and Unemployment

Josef C. Perrez

No 1996034, LIDAM Discussion Papers CORE from Université catholique de Louvain, Center for Operations Research and Econometrics (CORE)

Abstract: Strategic investment is studied in a model where oligopolists take decisions sequentially. First period investment determines second period wealth and output, and this is anticipated correctly by Cournot oligopolists. In our model with linear technology firms invest less as competition intensifies. In a situation of unemployment output, employment and well being increase with competition.

Date: 1996-08-01
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