THE EFFICIENCY OF FIRMS: WHAT DIFFERENCE DOES COMPETITION MAKE?*
研究古诺寡头市场中竞争如何影响企业效率，发现竞争更激烈的市场会激励企业提升效率，短期市场份额和利润下降会促使企业改进效率，长期效率差异与总投资差异相关。
In Cournot oligopoly the efficiency of a firm relative to others determines its market share: this relationship gives an incentive to improve efficiency. The incentives are greater in markets where firm behaviour is more competitive. Components of firm efficiency are identified by frontier production function techniques in 19 UK manufacturing sectors: technical change, average efficiency of each firm relative to the frontier, and the efficiency of each firm relative to its own 'best practice' in each period. Short run declines in market shares and profits induce the firm to improve efficiency relative to its 'best practice'. Long run differences in efficiency are correlated with differences in gross investment.