{"title":"Stackelberg寡头垄断中的被动交叉持股","authors":"Hongkun Ma, Chenhang Zeng","doi":"10.1515/bejte-2020-0041","DOIUrl":null,"url":null,"abstract":"Abstract We show that bilateral cross-holding can be profitable for firms with symmetric technologies in a Stackelberg oligopoly. Furthermore, if firms involved in cross-holding obtain a strategic advantage to be the leaders (i.e. Stackelberg leadership through cross-holding), such cross-holding will improve both consumer surplus and social welfare. We also discuss robustness of our main results with respect to convex costs and product differentiation.","PeriodicalId":44773,"journal":{"name":"B E Journal of Theoretical Economics","volume":"22 1","pages":"431 - 452"},"PeriodicalIF":0.3000,"publicationDate":"2021-07-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1515/bejte-2020-0041","citationCount":"2","resultStr":"{\"title\":\"Passive Cross-Holding in a Stackelberg Oligopoly\",\"authors\":\"Hongkun Ma, Chenhang Zeng\",\"doi\":\"10.1515/bejte-2020-0041\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"Abstract We show that bilateral cross-holding can be profitable for firms with symmetric technologies in a Stackelberg oligopoly. Furthermore, if firms involved in cross-holding obtain a strategic advantage to be the leaders (i.e. Stackelberg leadership through cross-holding), such cross-holding will improve both consumer surplus and social welfare. We also discuss robustness of our main results with respect to convex costs and product differentiation.\",\"PeriodicalId\":44773,\"journal\":{\"name\":\"B E Journal of Theoretical Economics\",\"volume\":\"22 1\",\"pages\":\"431 - 452\"},\"PeriodicalIF\":0.3000,\"publicationDate\":\"2021-07-19\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"https://sci-hub-pdf.com/10.1515/bejte-2020-0041\",\"citationCount\":\"2\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"B E Journal of Theoretical Economics\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://doi.org/10.1515/bejte-2020-0041\",\"RegionNum\":4,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q4\",\"JCRName\":\"ECONOMICS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"B E Journal of Theoretical Economics","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1515/bejte-2020-0041","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q4","JCRName":"ECONOMICS","Score":null,"Total":0}
Abstract We show that bilateral cross-holding can be profitable for firms with symmetric technologies in a Stackelberg oligopoly. Furthermore, if firms involved in cross-holding obtain a strategic advantage to be the leaders (i.e. Stackelberg leadership through cross-holding), such cross-holding will improve both consumer surplus and social welfare. We also discuss robustness of our main results with respect to convex costs and product differentiation.
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