FROM IMPERFECT TO PERFECT COMPETITION: A PARAMETRIC APPROACH THROUGH CONJECTURAL VARIATIONS

Ludovic Julien ()
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Ludovic Julien: EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique

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Abstract: This paper features perfect competition under a parametric approach. Weconsider conjectural variations in a pure exchange economy where stra-tegic interactions hold. We show, through an example, that the conjec-tural general equilibrium can coincide with the competitive equilibrium,independently of a replication procedure or an asymptotic identification.Additionally, the competitive equilibrium is a locally consistent conjec-tural general equilibrium. Perfect competition is defined at equilibrium.

Date: 2010-12-21
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Published in The Manchester school of economic and social studies, 2010, 78 (6), pp.660-677. ⟨10.1111/j.1467-9957.2009.02167.x⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05758809

DOI: 10.1111/j.1467-9957.2009.02167.x

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