On Efficiency of Spatial Oligopoly

John G. Greenhut and Hiroshi Ohta ()

Chapter 20 in Does Economic Space Matter?, 1993, pp 386-402 from Palgrave Macmillan

Abstract: 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.

Keywords: Opportunity Cost; Profit Maximization; Marginal Rate; Cost Curve; Indifference Curve (search for similar items in EconPapers)
Date: 1993
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-22906-2_21

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DOI: 10.1007/978-1-349-22906-2_21

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