A Note on Stackelberg Mixed Triopoly Games with State-Owned, Labor-Managed and Capitalist Firms

Abstract

This paper investigates three sequential-move games with a capitalist firm, a labor-managed firm and a state-owned firm. The first game is as follows. In stage one, the capitalist firm chooses its output level. In stage two, the other firms choose their output levels simultaneously and independently. In stage three, the market opens and each firm sells its entire output. The structures of the second and third games are nearly identical and differ only in order in which the firms choose output levels in the first two stages. The paper discusses the equilibrium outcomes of the three sequential-move games.