Theories Of Imperfectly Competitive Markets

Author : Luis C. Corchon
Publisher : Springer Science & Business Media
Page : 186 pages
File Size : 42,9 Mb
Release : 2013-04-17
Category : Business & Economics
ISBN : 9783662044988

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Theories of Imperfectly Competitive Markets by Luis C. Corchon Pdf

The ambition of the theory of imperfectly competitive markets is to explain the working of markets in which the issue of strategic interaction among firms is central. Our analysis of this problem will be based on equilibrium concepts borrowed from Game Theory. This research program arises several questions on its feasibility like the empirical relevance of the results, the substantial theoretical insights obtained in this way, etc. Unfortunately, most of these questions can not be answered in the short run. This book is written in the hope that this research strategy is meaningful, but about its final success no body can tell. Another important question is if simpler models could deliver the essential insights offered by the theory of imperfectly competitive mar kets. This Introduction will be devoted to argue that, currently, there is no alternative to the approach presented in this book. Consider the following fact: A square inch of soil in the Explanada of Ali cante (located in front of the sea, right in the middle of downtown) cost several times more than a square inch of soil in San Vicente del Raspeig (located sev eral miles toward the interior of the peninsula). l How can we explain such a thing? First notice that because of the large quantity of possible traders involved in this market, we can safely assume that any agent has to accept the market price, i. e. is a price-taker.

Author : Luis C. Corchón
Publisher : Unknown
Page : 163 pages
File Size : 55,5 Mb
Release : 1996
Category : Electronic
ISBN : LCCN:03000540

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Theories of Imperfectly Competitive Markets by Luis C. Corchón Pdf

Author : Thin Tun
Publisher : Harvard University Press
Page : 136 pages
File Size : 54,8 Mb
Release : 1960
Category : Business & Economics
ISBN : 0674880803

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Theory of Markets by Thin Tun Pdf

Concerned primarily with oligopoly, this work includes a general study of pricing in three different markets--perfect competition, perfect monopoly, and imperfect competition. The solutions of these markets offered by Cournot, Smithies, Chamberlin, Stackelberg, Fellner, and Robinson are presented mathematically, followed by the author's own version of the theory of rational pricing in oligopoly. Previous authors have not allowed for all the variables arising from profit and price situations in the market. Here, more realistic assumptions and more complex analyses indicate that sellers in oligopoly situations do not always need to arrange specific agreements--hence, that "administered" pricing does not inevitably occur when the market is dominated by a few producers.

Author : Jamee K. Moudud,Cyrus Bina,Patrick L. Mason
Publisher : Routledge
Page : 362 pages
File Size : 51,8 Mb
Release : 2012-10-12
Category : Business & Economics
ISBN : 9781136241154

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Alternative Theories of Competition by Jamee K. Moudud,Cyrus Bina,Patrick L. Mason Pdf

The history of policymaking has been dominated by two rival assumptions about markets. Those who have advocated Keynesian-type policies have generally based their arguments on the claim that markets are imperfectly competitive. On the other hand laissez faire advocates have argued the opposite by claiming that in fact free market policies will eliminate "market imperfections" and reinvigorate perfect competition. The goal of this book is to enter into this important debate by raising critical questions about the nature of market competition. Drawing on the insights of the classical political economists, Schumpeter, Hayek, the Oxford Economists’ Research Group (OERG) and others, the authors in this book challenge this perfect versus imperfect competition dichotomy in both theoretical and empirical terms. There are important differences between the theoretical perspectives of several authors in the broad alternative theoretical tradition defined by this book; nevertheless, a unifying theme throughout this volume is that competition is conceptualized as a dynamic disequilibrium process rather than the static equilibrium state of conventional theory. For almost all the others the growth of firm is consistent with a heightened degree of competitiveness, as both Marx and Schumpeter emphasized, and not a lowered one as in the conventional 'monopoly capital' view.

Author : Melvin L. Greenhut,George Norman,Chao-Shun Hung
Publisher : Cambridge University Press
Page : 432 pages
File Size : 41,8 Mb
Release : 1987-01-30
Category : Business & Economics
ISBN : 0521315646

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The Economics of Imperfect Competition by Melvin L. Greenhut,George Norman,Chao-Shun Hung Pdf

This new approach to traditional price theory and to the analysis of imperfect competition represents a breakthrough in the development of a "new" microeconomic theory. Addresses issues in price theory, industrial organization, international trade and regional urban economics.

Author : Stephan John Nash
Publisher : Routledge
Page : 205 pages
File Size : 46,9 Mb
Release : 2018-12-17
Category : Social Science
ISBN : 9780429873188

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Cost, Uncertainty and Welfare by Stephan John Nash Pdf

First published in 1998. This work contributes to the discussion of Knight by showing that uncertainty broadens the conception of economic welfare, and that a new cost analysis holds the key to unlocking the Knightian corpus. It develops Knight's suggestion that uncertainty-control costs can be reduced - arguing that the large firm enjoys economic rent from utilizing its dominant vantage point in the market. The author demonstrates that while Knight provides the intellectual stimulus which propelled Chamberlin's thesis of monopolistic competition, Chamberlin uses a very abstract form of uncertainty in his analysis.

Author : John Eatwell,Murray Milgate,Peter Newman
Publisher : Springer
Page : 321 pages
File Size : 43,9 Mb
Release : 1989-09-21
Category : Business & Economics
ISBN : 9781349202157

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Allocation, Information and Markets by John Eatwell,Murray Milgate,Peter Newman Pdf

This is an extract from the 4-volume dictionary of economics, a reference book which aims to define the subject of economics today. 1300 subject entries in the complete work cover the broad themes of economic theory. This volume concentrates on the topic of allocation information and markets.

Author : Jean Jaskold Gabszewicz,Jacques François Thisse
Publisher : Edward Elgar Publishing
Page : 856 pages
File Size : 52,6 Mb
Release : 1999
Category : Business & Economics
ISBN : UOM:39076002028632

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Microeconomic Theories of Imperfect Competition by Jean Jaskold Gabszewicz,Jacques François Thisse Pdf

This collection of readings provides a broad overview of the major theoretical concepts in the field and includes papers on industry size, quantity and price competition, entry barriers, product differentiation, incomplete information and general equilibrium with imperfect competition.

Author : Edward Chamberlin
Publisher : Unknown
Page : 426 pages
File Size : 46,8 Mb
Release : 1962
Category : Business & Economics
ISBN : UCAL:B3860438

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The Theory of Monopolistic Competition by Edward Chamberlin Pdf

Chamberlain's classic work, now in its eighth edition, continues to influence the fundamental thinking of economists and businessmen, and for the best of reasons: It is a basic treatise in theory which, unlike traditional theories of "perfect competition," deals with the economic world we live in, including both price and nonprice competition, oligopoly, various degrees of monopoly, "differentiated" products, advertising, etc. Its influence has spread extensively as well as intensively--to new theoretical problems, such as economic dynamics and development, and to the analysis of an increasingly wide range of the so-called "applied" fields. In this eighth edition of The Theory of Monopolistic Competition Professor Chamberlain has added three new appendices: The Definition of Selling Costs; Numbers and Elasticities; and The Origin and Early Development of Monopolistic Competition Theory. The index has been extensively revised and expanded. In successive earlier editions the author compiled a bibliography of 1497 items. He also added a new treatment of the cost curve of the firm, discussing in particular some current misconceptions as to the role of the laws of proportions and of the divisibility of factors in relation to economics and diseconomies of scale, and advancing a broader theory which assigns to both proportions and scale their proper roles.

Author : Edward Chamberlin
Publisher : New York : Wiley
Page : 408 pages
File Size : 55,8 Mb
Release : 1967
Category : Competition
ISBN : STANFORD:36105033947420

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Monopolistic Competition Theory: Studies in Impact by Edward Chamberlin Pdf

Author : Joan Robinson
Publisher : Springer
Page : 359 pages
File Size : 55,6 Mb
Release : 1969-07-01
Category : Business & Economics
ISBN : 9781349153206

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The Economics of Imperfect Competition by Joan Robinson Pdf

Author : Robert M. Solow
Publisher : Cambridge University Press
Page : 90 pages
File Size : 51,7 Mb
Release : 1998-11-28
Category : Business & Economics
ISBN : 0521626161

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Monopolistic Competition and Macroeconomic Theory by Robert M. Solow Pdf

Much of today's conventional macroeconomic theory presumes that markets for goods approach the state of perfect competition. Monopolistic Competition and Macroeconomic Theory assumes that markets are imperfect, so that sellers have some power over price, and must therefore form quantity expectations about the location of the firm's demand curve. The question is then about the macroeconomic implications of imperfect competition in goods markets. The first chapter is a brief survey of ideas proposed in economics including multiple equilibria. The second chapter describes a particular micro-based macro model that allows several families of equilibria. The third chapter shows how a standard locational model can be used to describe a sample macroeconomy when firms have close rivals. In this volume derived from his Federico Caffe Lecture, Nobel Laureate Robert Solow shows that there are simple and tractable micro-based models that offer the possibility of a richer and more intuitive macroeconomics.

Author : John Beath,Yannis Katsoulacos
Publisher : Cambridge University Press
Page : 220 pages
File Size : 43,6 Mb
Release : 1991-02-22
Category : Business & Economics
ISBN : 0521335523

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The Economic Theory of Product Differentiation by John Beath,Yannis Katsoulacos Pdf

There are few industries in modern market economies that do not manufacture differentiated products. This book provides a systematic explanation and analysis of the widespread prevalence of this important category of products. The authors concentrate on models in which product selection is endogenous. In the first four chapters they consider models that try to predict the level of product differentiation that would emerge in situations of market equilibrium. These market equilibria with differentiated products are characterised and then compared with social welfare optima. Particular attention is paid to the distinction between horizontal and vertical differentiation as well as to the related issues of product quality and durability. This book brings together the most important theoretical contributions to these topics in a succinct and coherent manner. One of its major strengths is the way in which it carefully sets out the basic intuition behind the formal results. It will be useful to advanced undergraduate and graduate students taking courses in industrial economics and microeconomic theory.

Author : Jean Jaskold Gabszewicz
Publisher : Edward Elgar Publishing
Page : 236 pages
File Size : 52,8 Mb
Release : 2002-01-01
Category : Business & Economics
ISBN : 1782543228

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Strategic Multilateral Exchange by Jean Jaskold Gabszewicz Pdf

'To non-economists, it is hard to understand why economists spend so much effort on the competitive model whereas the world seems to be replete with large and powerful economic actors. In this respect, Jean Gabszewicz is atypical: he has spent most of his research time working on imperfectly competitive markets. However, instead of restricting himself to partial equilibrium analyses, he has tackled from the outset the problem of imperfect competition in a system of interrelated markets with the aim of studying how market power is spread throughout the whole system. This is one of the most challenging and fascinating tasks that economists face. But this is also a very hard one, and may explain why so few have tried. This book builds on the seminal contributions of Cournot and Edgeworth and does not intend to provide a full-fledged answer to the many questions raised by the general theory of imperfect competition. However, by presenting in a transparent way most of the problems that lie at the roots of imperfect competition in general equilibrium and by proposing various elegant solutions, it paves the way to any future research in the field. No doubt it will become a basic reference in the long run. The economics profession should thank Jean Gabszewicz for a fresh and daring way of looking at market power.' - Jacques Thisse, Université Catholique de Louvain, Belgium and École Nationale des Ponts et Chaussées, France Jean Gabszewicz's new book is devoted to the study of strategic multilateral exchange. Contrary to the classical competitive paradigm in which agents are assumed to behave as price takers, here traders are allowed to consciously behave as strategic agents who aim to influence trade to their own advantage. This is usually done in oligopoly theory using a partial equilibrium approach while in this case a system of interrelated markets is considered.

Author : Stephan John Nash
Publisher : Routledge
Page : 213 pages
File Size : 42,9 Mb
Release : 2020-04-02
Category : Electronic
ISBN : 1138611204

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Cost, Uncertainty and Welfare by Stephan John Nash Pdf

First published in 1998. This work contributes to the discussion of Knight by showing that uncertainty broadens the conception of economic welfare, and that a new cost analysis holds the key to unlocking the Knightian corpus. It develops Knight's suggestion that uncertainty-control costs can be reduced - arguing that the large firm enjoys economic rent from utilizing its dominant vantage point in the market. The author demonstrates that while Knight provides the intellectual stimulus which propelled Chamberlin's thesis of monopolistic competition, Chamberlin uses a very abstract form of uncertainty in his analysis.