Perfect Competition and the Creativity of the Market
The complete theory of competition cannot be known because it is an open-ended theory; it is always possible that a new range of problems will be posed in this framework, and then, no matter how well-developed the theory was with respect to the earlier range of problems, it may require extensive ela...
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| Veröffentlicht in: | Journal of economic literature 2001-06, Vol.39 (2), p.479-535 |
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| container_end_page | 535 |
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| container_issue | 2 |
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| container_title | Journal of economic literature |
| container_volume | 39 |
| creator | Makowski, Louis Ostroy, Joseph M. |
| description | The complete theory of competition cannot be known because it is an open-ended theory; it is always possible that a new range of problems will be posed in this framework, and then, no matter how well-developed the theory was with respect to the earlier range of problems, it may require extensive elaboration in respects which previously it had glossed over or ignored. (George Stigler 1957, p. 14) |
| doi_str_mv | 10.1257/jel.39.2.479 |
| format | Article |
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| fulltext | fulltext |
| identifier | ISSN: 0022-0515 |
| ispartof | Journal of economic literature, 2001-06, Vol.39 (2), p.479-535 |
| issn | 0022-0515 2328-8175 |
| language | eng |
| recordid | cdi_proquest_journals_213186533 |
| source | Business Source Complete; Jstor Complete Legacy; American Economic Association Web |
| subjects | Commodities Competition Creativity Economic competition Economic rent Economic theory Efficient markets Marginal products Opportunistic behavior Perfect competition Socialism Studies Trade gains |
| title | Perfect Competition and the Creativity of the Market |
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