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Information and InvestmentA Study in the Working of the Competitive Economy$
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G. B. Richardson

Print publication date: 1997

Print ISBN-13: 9780198292432

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198292430.001.0001

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The Co‐Ordination of Competitive Investments

The Co‐Ordination of Competitive Investments

(p.49) III The Co‐Ordination of Competitive Investments
Information and Investment

G. B. Richardson

Oxford University Press

A firm's investment will prove profitable only if aggregate competitive investment is not excessive and complementary investments are sufficient. This chapter examines the factors necessary to ensure the first of these conditions: these may include differences among firms in their awareness of profit opportunities and in their ability to respond to them, connections between sellers and buyers, which give a degree of stability to market shares, and some measure of inter‐firm collusion.

Keywords:   capabilities, competitive investments, coordination, frictions, goodwill, imperfections, implicit collusion

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