From Imperfect To Perfect Competition: A Parametric Approach Through Conjectural Variations
This paper features perfect competition under a parametric approach. We consider conjectural variations in a pure exchange economy where strategic interactions hold. We show, through an example, that the conjectural general equilibrium can coincide with the competitive equilibrium, independently of a replication procedure or an asymptotic identification. Additionally, the competitive equilibrium is a locally consistent conjectural general equilibrium. Perfect competition is defined at equilibrium. Copyright � 2010 The Author. The Manchester School � 2010 Blackwell Publishing Ltd and The University of Manchester.
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Volume (Year): 78 (2010)
Issue (Month): 6 (December)
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