Issue 3

March 1987

Ownership Concentration and the Theory of the Firm: A Simple-Game-Theoretic Approach

A model of the shareholder constraint is described in terms of the relationship between shareholding concentration and corporate control.

Competition and Performance in the Nonprofit Sector: The Case of US Medical Research Charities

This paper develops a model of nonprofit firm behavior which links nonprofit market structure, firm-specific characteristics and firm performance.

Brand Names and Price Discrimination

This paper explains the fact that firms market both labeled and unlabeled products as a practice of price discrimination that emerges as a noncooperative equilibrium outcome.

A Model of Product Proliferation with Multiproduct Firms

This paper presents a model of product proliferation by multiproduct firms.

Regulation Through Output Related Profits Tax

Prospects are discussed for regulating a multiproduct, monopolistic enterprise through a tax on profit at a rate variable with output.

The Size Distribution of Innovating Firms in the UK: 1945-1983

A survey of 4378 significant innovations shows that firms with fewer than 1000 employees commercialised a much larger share than is indicated by their share of R & D expenditures.

Price Mark-UPS, Market Structure, and Business Fluctuation in Japanese Manufacturing Industries

Wachtel and Adelsheim (WA) and Cowling have argued that firms in concentrated industries tend to increase their price mark-ups in recession.

Ownership Concentration and Control in Large US Corporations in the 1930s: An Analysis of the TNEC Sample

This paper employs a simple-game-theoretic perspective to analyse the relationship between shareholding concentration and the voting power of leading coalitions among the top 200 non-financial corpora

Production Flexibility as a Motive for Multinationality

This paper examines how uncertainty in future operating costs at the time of undertaking long-lived and irreversible capital investment projects may provide an incentive for multinational production.

A Note on Market Structure and Innovation when Inventors can Enter

A monopolized market can be more conducive to invention than a competitive market in contrast to Arrow's assertion of the opposite.