Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/159372
Authors: 
Cellini, Roberto
Lambertini, Luca
Year of Publication: 
2004
Series/Report no.: 
Quaderni - Working Paper DSE 531
Abstract: 
We take a differential game approach to study the dynamic behaviour of labour managed (LM) firms, in the presence of price stickiness. We find that the oligopoly market populated by LM firms reaches the same steady state equilibrium allocation as the oligopoly populated by profit-maximising (PM) firms, provided that the LM membership and the PM labour force are set before the market game starts. The conclusion holds under both the openloop solution and the closed-loop solution. The result confirms the point made by Sertel (1987) in a static framework.
Persistent Identifier of the first edition: 
Creative Commons License: 
https://creativecommons.org/licenses/by/3.0/
Document Type: 
Working Paper

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