Alternative Theories of Competition: evidence from Greek manufacturing
AbstractThe objective of this paper is to evaluate empirically the relevance of the neoclassical, post-Keynesian, and classical theories of competition in the light of the available empirical evidence from Greek large-scale manufacturing industries. The econometric analysis shows that the classical and post-Keynesian models provide a fairly good account of profit differentials, whereas the neoclassical performed the worst of the three. Between the classical and post-Keynesian models, we find that the classical is more consistent with the phenomena that it is designed to explain. Finally, a hybrid model combining variables from the three alternative theories displays the highest explanatory power.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal International Review of Applied Economics.
Volume (Year): 12 (1998)
Issue (Month): 2 ()
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- Tsoulfidis, Lefteris, 2011.
"Classical vs. Neoclassical Conceptions of Competition,"
43999, University Library of Munich, Germany, revised Oct 2012.
- Lefteris Tsoulfidis, 2011. "Classical vs. Neoclassical Conceptions of Competition," Discussion Paper Series 2011_11, Department of Economics, University of Macedonia, revised Nov 2011.
- Andrea Vaona, 2010. "On the gravitation and convergence of industry profit rates in Denmark, Finland, Italy and the US," Working Papers 02/2010, University of Verona, Department of Economics.
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