A Short Critique Of Perfect Competition Model From The Perspective Of Austrian School Of Economics
AbstractThe perfect competition model is not the only model which we can use in analyzing the markets.Although it is quite clear that competition laws are based on it, there are not sufficient reasons to confirm its suitability for this enterprise. We raise the question of realism implied in concepts like ‘homogeneous products’ and ‘numerous participants’, and then we try to portrait the world as it is stated in the perfect neoclassical model. The discussion has powerful insights given by the Austrian methodology which in time proved to be a strong and efficient competitor for the neoclassical paradigm. The perfect competition model is opposed to free competition model, or the competition unhampered by any violent restrictions imposed to entrepreneurs in the process of satisfying the consumers.
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 Romanian-American University in its journal Romanian Economic and Business Review.
Volume (Year): 6 (2011)
Issue (Month): 4 (december)
perfect competition; economic calculation; money; prices; uncertainty; profits;
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Alex Tabusca).
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.