Doctrines of Imperfect Competition

R. F. Harrod

The Quarterly Journal of Economics, 1934, vol. 48, issue 3, 442-470

Abstract: I. Effects of imperfect competition on equilibrium theory. — Possibility of downward sloping demand curves, 442. — Particular sources of supply can have no decreasing costs, 443. — Limit of application of the new analysis, as regards monopoly and perfect competition, 445. — Some technical apparatus, 446. — A summary, 459. — II. Imperfect competition leads to distortion from the optimum distribution of resources, 461. — Price-fixing and fixing of wages may improve the distribution, 463. — III. The new analysis is important for trade cycle theory, 465. — Decreasing costs are possible for industries in short periods as well as in long, 465. — Examination of Pigou's reasoning, 468. — Bearing on the psychological theory of the trade cycle, 469.

Date: 1934
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