Competition: The Ways To Perfection
AbstractIn the economic literature of the nineteenth and twentieth centuries, perfect competition rests on essentially two different types of foundations, the distinction of which has not always been emphasized enough. According to the first type, perfect competition prevails when the agents, small relative to the market, completely lack the power to influence their environments, be it in a cooperative or a non-cooperative context. According to the second, perfect competition results from the agents’ normal conduct, independently of their size: either peaceful price taking or, on the contrary, aggressive undercutting. The paper reviews and compares briefly these different categories of foundations.
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Bibliographic InfoArticle provided by L'Harmattan in its journal Cahiers d'économie Politique.
Volume (Year): (2012)
Issue (Month): 63 ()
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Find related papers by JEL classification:
- B13 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Stockholm School)
- D41 - Microeconomics - - Market Structure and Pricing - - - Perfect Competition
- D43 - Microeconomics - - Market Structure and Pricing - - - Oligopoly and Other Forms of Market Imperfection
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- Marc Deschamps, 2013. "Pourquoi des politiques de concurrence ?," GREDEG Working Papers 2013-23, Groupe de REcherche en Droit, Économie, Gestion (GREDEG CNRS), University of Nice Sophia Antipolis.
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