To “ Organizing the Global Value Chain ”
نویسندگان
چکیده
A. OPTIMAL DIVISION OF SURPLUS: SUFFICIENT CONDITION IN THIS SECTION, we show that the function β∗(j) in equation (15) of the main text, characterizing the optimal division of surplus at stage j, indeed satisfies a sufficient condition for the associated profit-maximization problem of the firm. Our approach builds on recasting this as a dynamic programming problem. Remember that in the main text, we reduced the problem to that of finding a function v that maximizes
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