2021
DOI: 10.3917/redp.312.0081
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Note on Democracy and Competition: The Role of Ownership Structure in a General Equilibrium Model with Vertical Preferences

Abstract: This note considers a general equilibrium model where individuals are potentially consumers, workers, and shareholders. It extends the results obtained previously by Kahloul et al. (2017) with extreme ownership structures on the majority vote between Monopoly and Duopoly, to the case of any proportion of shareholders in the population.We prove that Duopoly is preferred when non-shareholders constitute a majority of the population. Otherwise, the majority vote depends on the proportion of shareholders and the d… Show more

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Cited by 2 publications
(3 citation statements)
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“…They show that, competition reduces poverty when the ownership structure is concentrated, but the effect is ambiguous in the egalitarian case. We assume as in Ghazzai et al (2021) that the proportion of shareholders varies between 0 and 1, which allows richer theoretical results and thus a richer empirical study. Rodriguez-Castelan (2015) 12 addresses the same question as in our paper but considers a completely different model where two consumption homogeneous goods are produced in the economy: one in a competitive market and one in an oligopolistic market.…”
Section: Related Literaturementioning
confidence: 99%
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“…They show that, competition reduces poverty when the ownership structure is concentrated, but the effect is ambiguous in the egalitarian case. We assume as in Ghazzai et al (2021) that the proportion of shareholders varies between 0 and 1, which allows richer theoretical results and thus a richer empirical study. Rodriguez-Castelan (2015) 12 addresses the same question as in our paper but considers a completely different model where two consumption homogeneous goods are produced in the economy: one in a competitive market and one in an oligopolistic market.…”
Section: Related Literaturementioning
confidence: 99%
“…The only exceptions in this respect are Rodriguez‐Castelan (2015) and Kahloul et al (2019). We use the same model as Ghazzai et al (2021); Kahloul et al (2019, 2017); Lahmandi‐Ayed and Laussel (2018, 2022) and Amir et al (2022). In particular, Kahloul et al (2019) consider only two extreme ownership structures: concentrated where the owners of the firms are negligible; and egalitarian where the firms are equally owned by the population.…”
Section: Introductionmentioning
confidence: 99%
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