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Browsing Economics by Author "Milne, Frank"
Kelsey, David; Milne, Frank (University of Birmingham, 2004-07)This paper provides a theory of general equilibrium with externalities and/or monopoly. We assume that the firm's decisions are based on the preferences of shareholders and/or other stakeholders. Under these assumptions a ...
Kelsey, David; Milne, Frank (Blackwell, 2008-12)This paper studies the objective function of the firm in imperfectly competitive industries. If those involved in decisions are also consumers the usual monopoly distortion is reduced. In oligopolistic industries, this may ...
Kelsey, David; Milne, Frank (SSRN, 2005-02)
Kelsey, David; Milne, Frank (Springer, 2010-04)If consumers wholly or partially control a firm with market power they will charge less than the profit maximizing price. Starting at the usual monopoly price, a small price reduction will have a second order effect on ...