Titlebook: Competition, Efficiency, and Welfare; Essays in Honor of M Dennis C. Mueller,Alfred Haid,Jürgen Weigand Book 1991 Kluwer Academic Publisher

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About Manfred Neumannhonor of Manfred Neumann was prepared as a tribute to a teacher and scholar, whose accomplishments have enriched various fields of economics. The breadth of his interests are reflected in the breadth of topics covered in this volume.

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Depression Cartels, Market Structure, and Performance development; some allow cooperation in production, under certain conditions; other do not. In this chapter I discuss depression cartels, which have a history of inclusion in the list of exceptions to the general rule of independent actions by independent firms. I distinguish between depression cartels and rationalization cartels.

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Innovation, Investment, and Corporate Financedigliani and Miller (1958) guaranteed for the separability of investment and financing decisions. From this perspective, the financial side of innovation could easily and without loss of generality be regarded as given.