| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6776 |
| DP6776 Habit Formation and Labour Supply | |
| Pierre Pestieau; Helmuth Cremer; Philippe De Donder; Darío Maldonado | |
| 发表日期 | 2008-04-23 |
| 出版年 | 2008 |
| 语种 | 英语 |
| 摘要 | Capacity addition and withdrawal decisions are among the most important strategic decisions made by firms in oligopolistic industries. In this paper, we develop and analyze a fully dynamic model of an oligopolistic industry with lumpy capacity and lumpy investment/disinvestment. We use our model to answer two questions. First, what economic factors facilitate preemption races? Second, what economic factors facilitate capacity coordination? We show that low product differentiation, low investment sunkness, and high depreciation promote preemption races. We also show that low product differentiation and low investment sunkness promote capacity coordination. Although depreciation removes capacity, it may impede capacity coordination. Finally, we show that, at least over some range of parameter values, firms' expectation plays a key role in determining whether or not industry dynamics are characterized by preemption races and capacity coordination. Taken together, our results suggest that preemption races and excess capacity in the short run often go hand-in-hand with capacity coordination in the long run. |
| 主题 | Industrial Organization |
| 关键词 | Industry dynamics investment Lumpiness Oligopoly |
| URL | https://cepr.org/publications/dp6776 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535624 |
| 推荐引用方式 GB/T 7714 | Pierre Pestieau,Helmuth Cremer,Philippe De Donder,et al. DP6776 Habit Formation and Labour Supply. 2008. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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