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SHS investigation development is considered from the geographical and historical viewpoint. 3 stages are described. Within Stage 1 the work was carried out in the Department of the Institute of Chemical Physics in Chernogolovka where the scientific discovery had been made. At Stage 2 the interest to SHS arose in different cities and towns of the former USSR. Within Stage 3 SHS entered the international scene. Now SHS processes and products are being studied in more than 50 countries.
Abstract
This chapter examines a three-stage model where a state-owned firm and a labour-managed firm can sequentially offer a wage-rise contract as a strategic device before competing in quantities. The following three stages are considered. At stage one, the state-owned firm chooses whether or not to offer a wage-rise contract. At stage two, the labour-managed firm chooses whether or not to offer a wage-rise contract. At stage three, the firms set their outputs simultaneously and independently. This chapter studies the equilibrium outcome of the three-stage mixed market model.
Keywords:
Cournot competition, labour-managed firm, mixed duopoly, perfectly substitutable goods, profit per worker, state-owned firm, economic welfare, subgame perfection, three-stage model, wage-rise contract.
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Authors:Bentham Science Books