Farm-level nonparametric analysis of cost-minimization and profit-maximization behavior

Farm Level Nonparametric Analysis of Profit Maximization Behavior with Measurement Error

Ownership Structure, Profit Maximization, and Competitive Behavior

We question the broad applicability of the assumption of profit maximization as the goal of the firm and investigate how variance in objective functions across different ownership structures affects competitive behavior. While prior work in agency theory has argued that firms may fail to engage in profit maximizing behaviors due to misalignment between the goals of owners and managers, we conte...

Relative Profit Maximization and Bertrand Equilibrium with Convex Cost Functions

This study derives pure strategy Bertrand equilibria in a duopoly in which two firms produce a homogeneous good with convex cost functions and seek to maximize the weighted sum of their absolute and relative profits. The study shows that there exists a range of equilibrium prices in duopolistic equilibria. This range of equilibrium prices is narrower and lower than the range of equilibrium pric...

Profit Maximization Based on Customer Satisfaction Level in a Multi- Layer Multi-Product Supply Chain

This paper concerns with a mathematical model considering customer satisfaction requirements in a supply chain. The model tradeoffs the supply chain ability to fulfill the customers’ requirements and the limited budget in a variety of production phases. The decisions made here help to determine the profit provider price and economic quantity while the effective supplier and priori requireme...

Customer Selection and Profit Maximization