Description

Book Synopsis
Concerned primarily with oligopoly, this work includes a general study of pricing in three different marketsperfect competition, perfect monopoly, and imperfect competition. The solutions of these markets offered by Cournot, Smithies, Chamberlin, Stackelberg, Fellner, and Robinson are presented mathematically, followed by the author's own version of the theory of rational pricing in oligopoly. Previous authors have not allowed for all the variables arising from profit and price situations in the market. Here, more realistic assumptions and more complex analyses indicate that sellers in oligopoly situations do not always need to arrange specific agreementshence, that administered pricing does not inevitably occur when the market is dominated by a few producers.

Theory of Markets

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    A Hardback by Tun Thin

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      Publisher: Harvard University Press
      Publication Date: Publication Date: 01/01/1960
      ISBN13: 9780674880801, 978-0674880801
      ISBN10: 0674880803

      Description

      Book Synopsis
      Concerned primarily with oligopoly, this work includes a general study of pricing in three different marketsperfect competition, perfect monopoly, and imperfect competition. The solutions of these markets offered by Cournot, Smithies, Chamberlin, Stackelberg, Fellner, and Robinson are presented mathematically, followed by the author's own version of the theory of rational pricing in oligopoly. Previous authors have not allowed for all the variables arising from profit and price situations in the market. Here, more realistic assumptions and more complex analyses indicate that sellers in oligopoly situations do not always need to arrange specific agreementshence, that administered pricing does not inevitably occur when the market is dominated by a few producers.

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