joint-profit maximization

joint-profit maximization

the possible situation of the optimization of industry profits by firms that coordinate their price and output policies rather than compete against each other. Joint-profit maximization is typically associated with oligopolistic markets (see OLIGOPOLY) where firms, recognizing their MUTUAL INDEPENDENCE, operate PRICE LEADERSHIP systems and CARTELS.
Mentioned in ?
References in periodicals archive ?
This paper provides a model of service provision with homogeneous goods that allows for welfare comparisons between firms engaged in Cournot-type competition and joint-profit maximization.
Using a static modeling approach, this paper provides a model of service provision with homogeneous goods that allows for welfare comparisons between firms engaged in Cournot-type competition and joint-profit maximization.

Full browser ?