Perfect Competition, Historically Contemplated

George Stigler

Chapter 7 in Readings in Industrial Economics, 1972, pp 105-130 from Palgrave Macmillan

Abstract: Abstract No concept in economics — or elsewhere — is ever defined fully, in the sense that its meaning under every conceivable circumstance is clear. Even a word with a wholly arbitrary meaning in economics, like ‘elasticity’, raises questions which the person who defined it (in this case, Marshall) never faced: for example, how does the concept apply to finite changes or to discontinuous or stochastic or multiple-valued functions ? And of course a word like ‘competition’, which is shared with the whole population, is even less likely to be loaded with restrictions or elaborations to forestall unfelt ambiguities.

Keywords: Market Competition; Competitive Equilibrium; Competitive System; External Economy; Resource Owner (search for similar items in EconPapers)
Date: 1972
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Journal Article: Perfect Competition, Historically Contemplated (1957)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-15484-5_7

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349154845

DOI: 10.1007/978-1-349-15484-5_7

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().