ABSTRACT This paper investigates the disclosure of R&D knowledge with partial cross‐ownership in an international mixed market. Findings show that the domestic public firm fully discloses under no or unilateral foreign ownership, the domestic private firm withholds knowledge; under bilateral foreign ownership, neither discloses. Furthermore, unilateral foreign ownership is the endogenous choice for foreign and private firms. Additionally, core results hold under subsidy or tax‐subsidy policies, yet both firms withhold disclosure in a private duopoly. Consequently, bilateral foreign ownership should be avoided to preserve public disclosure incentives and safeguard social welfare.
ABSTRACT To present analyses of the effects of minimum wage policy on fertility and economic growth we extend an overlapping generations model by assuming individuals of two types: skilled and unskilled. The increased wage mark‐up lowers the fertility rate of unskilled workers receiving minimum wages and thereby lowers the total fertility rate. Nevertheless, the introduction of a minimum wage can be shown to boost economic growth when fertility is endogenous. Therefore, when minimum wages are introduced, the welfare of skilled workers is improved by higher growth although the welfare of unskilled workers might be lowered by low fertility.
ABSTRACT The Kurz–Salvadori eigenequation concerns Sraffian closed, single‐product–circulating capital economies and determines the unique economically relevant profit rate and price vector that correspond to an exogenously given money wage rate. This paper approaches the Kurz–Salvadori eigenequation as a (semi‐)positive rank‐one matrix perturbation of the zero‐wage price system and shows the connection between Piero Sraffa's linear profit–money wage rate relationships and Alfred Brauer's theorem for the eigenpairs of special rank‐one perturbations of a matrix. Thus, it also points out that Sraffa implicitly provided a proof (though not a general or complete one) of Brauer's theorem.
Using data from China's manufacturing firms (2011-2020), this study examines how digital platform adoption affects profit rates through two opposing mechanisms. The positive "turnover acceleration effect" enhances efficiency and reduces circulation time, while the negative "value extraction effect" reduces margins through platform monopolization and weakened bargaining power. When platform exposure exceeds a critical threshold, the negative effect dominates, causing declining profits. Platforms facilitate value realization but cannot independently create value. By adopting a Marxian framework of value and circulation with firm-level empirical evidence, this study explains the paradox of widespread platform adoption alongside falling profitability in China's manufacturing sector, highlighting the need for firms and policymakers to balance platform engagement with productive investment.
This paper studies Bertrand-Edgeworth competition among firms producing a homogeneous commodity under efficient rationing and constant (and identical across firms) marginal cost until full capacity utilization is reached. The focus is on the equilibrium payoffs under triopoly when the demand function is defined on the set of the non-negative prices, where it is continuous and non-negative, and it is strictly decreasing, twice differentiable and such that its nominal value is stricly concave over the range in which it is positive. The payoffs of all firms are determined.
