An Economic Interpretation Of Neoclassical Monopoly Theory In The Light Of Austrian School
AbstractThe paper summarizes the contributions of the neoclassical and Austrian school ofthought in the field of monopoly theory arguing that the first uses non-operational concepts indescribing the entrepreneur‘s actions on the market. The Austrian economic theory of freecompetition is the opposite of perfect and pure competition which is the model used in most ofpolicy recommendations and also the intellectual legacy of neoclassicism. After proving that themonopoly price can‘t be scientifically determined and neither the consumer loss of welfare, thepaper raises the issue whether public policy should intervene in a case of monopoly.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia in its journal Annales Universitatis Apulensis Series Oeconomica.
Volume (Year): 2 (2011)
Issue (Month): 13 ()
Contact details of provider:
monopoly; property rights; monopoly price; utility; consumer;
Find related papers by JEL classification:
- B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian
- D41 - Microeconomics - - Market Structure and Pricing - - - Perfect Competition
- P14 - Economic Systems - - Capitalist Systems - - - Property Rights
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Andreas Stamate, 2011. "A Short History of the “Just Price” Controversy in the XII-th and XIII-th Centuries," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 14(39), pages 257-270, March.
- Stamate-Ştefan Andreas, 2009. "Teoria austriacă post-misesiană a monopolului: Murray Newton Rothbard," Revista OEconomica, Romanian Society for Economic Science, Revista OEconomica, issue 01, March.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dan-Constantin Danuletiu).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.