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 Selling Dear

Ken Binmore

in Playing for Real: Game Theory

Published in print:
2007
Published Online:
May 2007
ISBN:
9780195300574
eISBN:
9780199783748
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195300574.003.0010
Subject:
Economics and Finance, Microeconomics

This chapter is an introduction to the theory of imperfectly competitive markets — a subject that was largely terra incognita before the advent of game theory. The models studied include those of ... More


 Buying Cheap

Ken Binmore

in Playing for Real: Game Theory

Published in print:
2007
Published Online:
May 2007
ISBN:
9780195300574
eISBN:
9780199783748
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195300574.003.0009
Subject:
Economics and Finance, Microeconomics

This chapter reviews classical topics in economics. It is intended mostly for readers who have not studied economics before, but it is written in a style that will perhaps offer something new for ... More


Capitalism: Competition, Conflict, Crises

Anwar Shaikh

Published in print:
2016
Published Online:
March 2016
ISBN:
9780199390632
eISBN:
9780199390663
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199390632.001.0001
Subject:
Economics and Finance, Macro- and Monetary Economics

The purpose of this book is to demonstrate that most of the central propositions of economic analysis can be derived without any reference to hyperrationality, optimization, perfect competition, ... More


The Tendency to Equilibrium

G. B. Richardson

in Information and Investment: A Study in the Working of the Competitive Economy

Published in print:
1997
Published Online:
November 2003
ISBN:
9780198292432
eISBN:
9780191596810
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198292430.003.0001
Subject:
Economics and Finance, Microeconomics

Neo‐classical theory associates a ‘general equilibrium’ with perfectly competitive conditions but fails to demonstrate the existence of any tendency towards its realization. The assumptions of the ... More


The Availability of Market Information

G. B. Richardson

in Information and Investment: A Study in the Working of the Competitive Economy

Published in print:
1997
Published Online:
November 2003
ISBN:
9780198292432
eISBN:
9780191596810
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198292430.003.0002
Subject:
Economics and Finance, Microeconomics

If all firms were equally aware of a profit opportunity and equally able and ready to respond to it, then the opportunity would be available to none of them in particular. A firm will invest in ... More


The Production Decisions of Competitive Firms

John P. Burkett

in Microeconomics: Optimization, Experiments, and Behavior

Published in print:
2006
Published Online:
October 2011
ISBN:
9780195189629
eISBN:
9780199850778
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195189629.003.0005
Subject:
Economics and Finance, Microeconomics

This chapter examines the factors that influence the production decisions of competitive firms. It explains that a firm is usually assumed to produce the quantity of output that maximizes its profit, ... More


Rural Credit Markets: The Structure of Interest Rates, Exploitation, and Efficiency

Kaushik Basu

in The Economic Theory of Agrarian Institutions

Published in print:
1991
Published Online:
November 2003
ISBN:
9780198287629
eISBN:
9780191595912
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198287623.003.0007
Subject:
Economics and Finance, Development, Growth, and Environmental

In this chapter, the author models alternative structures in the informal credit market as devices for extracting surplus from the borrowers, and show how extremely exploitative moneylenders may have ... More


The Function of Speculation

John Hicks

in A Market Theory of Money

Published in print:
1989
Published Online:
November 2003
ISBN:
9780198287247
eISBN:
9780191596407
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198287240.003.0003
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter argues that organized commodity markets need to occupy a central place in a general theory of markets because they are the most sensitive markets we know. They are the practical ... More


Market Structure Games: Static Approaches

Benoît Chevalier-Roignant and Lenos Trigeorgis

in Competitive Strategy: Options and Games

Published in print:
2011
Published Online:
August 2013
ISBN:
9780262015998
eISBN:
9780262298711
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262015998.003.0003
Subject:
Economics and Finance, Econometrics

This chapter discusses static market structure games. It begins by describing the benchmark case of a monopolist, developing the basic building blocks for subsequent models. It then introduces static ... More


Oligopoly: Simultaneous Investment

Benoît Chevalier-Roignant and Lenos Trigeorgis

in Competitive Strategy: Options and Games

Published in print:
2011
Published Online:
August 2013
ISBN:
9780262015998
eISBN:
9780262298711
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262015998.003.0010
Subject:
Economics and Finance, Econometrics

This chapter extends the analysis began in Chapter 9 which was about simultaneous investment oligopoly markets. It considers the following industry structures: oligopoly situations where firms add ... More


Orthodox Microeconomics

Piet Keizer

in Multidisciplinary Economics: A Methodological Account

Published in print:
2015
Published Online:
June 2015
ISBN:
9780199686490
eISBN:
9780191797651
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199686490.003.0004
Subject:
Economics and Finance, History of Economic Thought

Orthodox economics is built on four axioms. Humans are supposed to be economic, rational, and non-social beings, and the real world is closed and determined by a few natural forces and motivations. ... More


Well-Functioning Markets and Contract Law

Nathan B. Oman

in The Dignity of Commerce: Markets and the Moral Foundations of Contract Law

Published in print:
2017
Published Online:
September 2017
ISBN:
9780226415529
eISBN:
9780226415666
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226415666.003.0002
Subject:
Law, Philosophy of Law

This chapter provides an account of well functioning markets that deviates from the economic model of perfect competition. Rather, it defines well-functioning markets in terms of their ability to ... More


Rethink Market Capitalism

Michael L. Gerlach

in Alliance Capitalism: The Social Organization of Japanese Business

Published in print:
1997
Published Online:
May 2012
ISBN:
9780520208896
eISBN:
9780520919105
Item type:
chapter
Publisher:
University of California Press
DOI:
10.1525/california/9780520208896.003.0002
Subject:
Anthropology, Asian Cultural Anthropology

This chapter examines the nature of capitalism in a subset of markets in Japan that involves the flow of capital which represents the lifeblood of business operations. It considers the operation of ... More


The competitive firm and perfect competition

David M. Kreps

in A Course in Microeconomic Theory

Published in print:
2020
Published Online:
May 2021
ISBN:
9780691202754
eISBN:
9780691215747
Item type:
chapter
Publisher:
Discontinued
DOI:
10.23943/princeton/9780691202754.003.0008
Subject:
Economics and Finance, Microeconomics

This chapter addresses market equilibria for competitive firms, firms that act as price takers. It develops a theory which is based on the hypothesis that firms and consumers act as if they have no ... More


Theories of Firm Behavior in the Nonprofit Sector: A Synthesis and Empirical Evaluation

Anup Malani, Tomas Philipson, and Guy David (eds)

in The Governance of Not-for-Profit Organizations

Published in print:
2003
Published Online:
February 2013
ISBN:
9780226297859
eISBN:
9780226297866
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226297866.003.0007
Subject:
Economics and Finance, Financial Economics

This chapter attempts to synthesize a few of the dominant theories of not-for-profit (NFP) firms into a common framework, and to connect existing empirical literature on NFPs to this common ... More


Monopoly

David M. Kreps

in A Course in Microeconomic Theory

Published in print:
2020
Published Online:
May 2021
ISBN:
9780691202754
eISBN:
9780691215747
Item type:
chapter
Publisher:
Discontinued
DOI:
10.23943/princeton/9780691202754.003.0009
Subject:
Economics and Finance, Microeconomics

This chapter describes the theory of monopoly. In a monopoly market, there are many buyers and a single vendor of a good. The single vendor is called the monopoly. Buyers are assumed to be price ... More


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