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On Efficiency of Spatial Oligopoly

In: Does Economic Space Matter?

Author

Listed:
  • John G. Greenhut
  • Hiroshi Ohta

Abstract

M. L. Greenhut has been claiming for many years now that economic space inherently involves oligopolistic relationships among firms. In turn, he has maintained that contrary to conventional economic thought, oligopolistic competition can yield a long-run equilibrium that is unique, want-satisfying, and efficiently stable; in fact, he claims it contains features isomorphic to those of perfect competition. This is a surprising argument which has to this time drawn insufficient attention from the professional circle.

Suggested Citation

  • John G. Greenhut & Hiroshi Ohta, 1993. "On Efficiency of Spatial Oligopoly," Palgrave Macmillan Books, in: Hiroshi Ohta & Jacques-François Thisse (ed.), Does Economic Space Matter?, chapter 20, pages 386-402, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-1-349-22906-2_21
    DOI: 10.1007/978-1-349-22906-2_21
    as

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