Industry Restructuring: A Case for Affirmative Action

Bertrand Villeneuve and Vanessa Yanhua Zhang
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Vanessa Yanhua Zhang: Renmin University of China - Renmin University of China

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Abstract: We analyze the trade-off faced by authorities envisaging a one-shot structural re-form in a capitalistic industry. A structure is modeled as (1) a sharing of productive capital at some time and (2) a sharing of scarce sites or any other non-reproducible assets. These two distinct dimensions of policy illustrate the importance of a dy-namic theory in which firms durably differ in several respects. Though equalization of endowments and rights is theoretically optimal, realistic constraints force com-petition authorities to adopt second-best solutions. Affirmative action here is the policy that recognizes the fact that, under certain circumstances, helping the dis-advantaged contributes maximally to social surplus.

Keywords: Competition policy; capacity accumulation; Cournot competition; asymmetric duopoly; regulatory consistency; Politique de la concurrence; accumulation de capacité; concurrence de Cournot; duopole asymétrique; régulation cohérente dans le temps (search for similar items in EconPapers)
Date: 2013
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Published in Annales d'Economie et de Statistique, 2013, 109

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