Delbono, Flavio ; Rossini, Gianpaolo
(1991)
A Mixed Firm Objective Function: Some Instances of Bizarre Behaviour.
Bologna:
Dipartimento di Scienze economiche DSE,
p. 12.
DOI 10.6092/unibo/amsacta/5250.
In: Quaderni - Working Paper DSE
(114).
ISSN 2282-6483.
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Abstract
We analyse the objective function of a mixed firm, i.e. a firm whose controllers have different objectives (profit and value added per worker). It seems that the optimal output behaves in a bizzarre manner near critical values of a weight parameter. Output jumps up or down whenever we approach the critical value respectively from above or from below.
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