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Corporate Social Responsibility or Payoff Asymmetry? A Study of an Endogenous Timing Game

Corporate Social Responsibility or Payoff Asymmetry? A Study of an Endogenous Timing Game We revisit an endogenous timing game by introducing corporate social responsibility into firms' payoffs. Previous research investigates an endogenous timing game in a mixed oligopoly, wherein one welfare‐maximizing public firm competes against profit‐maximizing private firms. It shows that the outcome is completely different from that of private oligopoly. In contrast to its result, we find that this change in payoff does not matter as long as the payoffs are symmetric. Our result indicates that asymmetry, and not welfare‐concerning objectives, yields specific results in the literature on mixed oligopoly. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Southern Economic Journal Wiley

Corporate Social Responsibility or Payoff Asymmetry? A Study of an Endogenous Timing Game

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References (34)

Publisher
Wiley
Copyright
© 2015 by the Southern Economic Association
ISSN
0038-4038
eISSN
2325-8012
DOI
10.4284/0038-4038-2012.182
Publisher site
See Article on Publisher Site

Abstract

We revisit an endogenous timing game by introducing corporate social responsibility into firms' payoffs. Previous research investigates an endogenous timing game in a mixed oligopoly, wherein one welfare‐maximizing public firm competes against profit‐maximizing private firms. It shows that the outcome is completely different from that of private oligopoly. In contrast to its result, we find that this change in payoff does not matter as long as the payoffs are symmetric. Our result indicates that asymmetry, and not welfare‐concerning objectives, yields specific results in the literature on mixed oligopoly.

Journal

Southern Economic JournalWiley

Published: Oct 1, 2014

Keywords: ;

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