Asset Ownership and Market Structure in Oligopoly
用古诺模型分析寡头行业中资产所有权变化（投资、资产出售、股票收购）对价格、利润和行业绩效的影响，并找出集中度上升预示绩效恶化的条件。
We study the effects of changes in the ownership or productive assets in a concentrated industry. Using a Cournot model, we analyze (1) investment by an oligopolist, (2) the sale of capital goods by one oligopolist to another, and (3) stock market purchases, whereby one firm acquires a partial interest in a rival firm. In each case, we determine how the change in asset ownership affects price, profits, industry performance, and measured concentration. We identify those industry conditions and asset transactions for which equilibrium increases in concentration reliably indicate worsened industry performance.