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The Rehabilitation of Pure Competition

Author

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  • Alfred Nicols

Abstract

I. The problem: the effect of consumer attachments upon competitive equilibrium, 31. — Definitions and assumptions, 32. — II. The Chamberlinian theory as a limiting case, 34. — Buyer attachments, 36. — Asymmetry in the relation of a price increase to a price decrease, 39. — Modification of the homogeneity requirement, 42. — III. Cross elasticities, 42. — Extra-marginal buyers, 46. — IV. Equilibrium at minimum cost, 50. — V. Can product differentiation be maintained in the long run? 54. — VI. The definition of a "perfect market," 59. — Free entry, 60. — VII. Results and implications, 61.

Suggested Citation

  • Alfred Nicols, 1947. "The Rehabilitation of Pure Competition," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 62(1), pages 31-63.
    • Handle: RePEc:oup:qjecon:v:62:y:1947:i:1:p:31-63.
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