Une théorie réaliste des prix et de la production
The assumption of a single price at any time is very generally imposed on market theorizing. It is unrealistic, but generally accepted because of the needs of welfare theory, and of current theoretical methods. In order to evaluate the significance of the loss in realism from the use of this assumption, it seems to be worthwhile to start with the other extreme of complete ignorance in a market, and allow buyers and sellers to pair off at random, allowing a diversity of prices. It is very interesting that in such a "blind market" the quantity traded tends to be larger, by about 44 per cent.
Volume (Year): 53 (1977)
Issue (Month): 1 (janvier)
|Contact details of provider:|| Web page: http://www.scse.ca/|
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Heller, Walter W, 1975. "What's Right With Economics?," American Economic Review, American Economic Association, vol. 65(1), pages 1-26, March.
- Vernon L. Smith, 1962.
"An Experimental Study of Competitive Market Behavior,"
Journal of Political Economy,
University of Chicago Press, vol. 70, pages 111.
- Vernon L. Smith, 1962. "An Experimental Study of Competitive Market Behavior," Journal of Political Economy, University of Chicago Press, vol. 70, pages 322.
- William D. Cook & E. C. H. Veendorp, 1975. "Six Markets in Search of an Auctioneer," Canadian Journal of Economics, Canadian Economics Association, vol. 8(2), pages 238-57, May.
- Young, Allyn A., 1928. "Increasing Returns and Economic Progress," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 38, pages 527-542.
- Rothschild, Michael, 1973. "Models of Market Organization with Imperfect Information: A Survey," Journal of Political Economy, University of Chicago Press, vol. 81(6), pages 1283-1308, Nov.-Dec..
- Coddington, Alan, 1975. "The Rationale of General Equilibrium Theory," Economic Inquiry, Western Economic Association International, vol. 13(4), pages 539-58, December.
- Leontief, Wassily, 1971. "Theoretical Assumptions and Nonobserved Facts," American Economic Review, American Economic Association, vol. 61(1), pages 1-7, March.
- Chipman, John S, 1970. "External Economies of Scale and Competitive Equilibrium," The Quarterly Journal of Economics, MIT Press, vol. 84(3), pages 347-85, August.
- Paul J. McNulty, 1967. "A Note on the History of Perfect Competition," Journal of Political Economy, University of Chicago Press, vol. 75, pages 395.
- Richard R. Nelson & Sidney G. Winter, 1975. "Factor Price Changes and Factor Substitution in an Evolutionary Model," Bell Journal of Economics, The RAND Corporation, vol. 6(2), pages 466-486, Autumn.
When requesting a correction, please mention this item's handle: RePEc:ris:actuec:v:53:y:1977:i:1:p:65-81. See general 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: (Bruce Shearer)
If references are entirely missing, you can add them using this form.