1976 | OriginalPaper | Buchkapitel
Generalising from Hypotheses about Observed Behaviour
verfasst von : P. J. Curwen
Erschienen in: The Theory of the Firm
Verlag: Palgrave Macmillan UK
Enthalten in: Professional Book Archive
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Relatively little attention has been paid to this approach to the oligopoly problem, perhaps because it cannot be expected to yield many insights into oligopolistic behaviour until much more empirical information has been gathered together. A useful summary of progress in this direction appears in Lipsey,
1
who selects as his central hypothesis that of
qualified joint profit maximisation
.
2
He defines this as follows:
3
Firms that recognise that they are in rivalry with one another will be motivated by two opposing forces; one moves them towards policies that maximise the combined profits of the existing group of sellers, the other moves them away from the joint profit-maximising position. Both forces are associated with observable characteristics of firms, markets and products, and thus we can make predictions about market behaviour on the basis of these characteristics.