Industry Restructuring : A Case for Affirmative Action
We analyze the trade-off faced by authorities envisaging a one-shot structural reform in a capitalistic industry. A structure is modeled as (1) a sharing of productive capital at some time, and (2) a sharing of scarce sites or any other non-reproducible asset. These two distinct dimensions of policy illustrate the importance of a dynamic theory in which firms durably differ in several respects. Though equalization of endowments and rights is theoretically optimal, realistic constraints force competition authorities to adopt second-best solutions. Affirmative action here is the policy that recognizes the fact that, under certain circumstances, helping the disadvantaged contributes maximally to social surplus.
Year of publication: |
2013
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Authors: | VILLENEUVE, Bertrand ; ZHANG, Vanessa Yanhua |
Published in: |
Annales d'Economie et de Statistique. - École Nationale de la Statistique et de l'Admnistration Économique (ENSAE). - 2013, 109-110
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Publisher: |
École Nationale de la Statistique et de l'Admnistration Économique (ENSAE) |
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