CONCEPTS AND THEORIES OF PURE COMPETITION

Abstract

A classical formulation of the marketplace is examined from three different theoretical view points, and the three solutions that result are contrasted. When the number of participants is small, the solutions are very different, both in their form and in their quantitative predictions. As the size of the market increases, however, they all converge to a common solution, despite the wide disparity in the underlying assumptions.

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Document Details

Document Type
Technical Report
Publication Date
May 01, 1963
Accession Number
AD0402950

Entities

People

  • Lloyd Shapley
  • Martin Shubik

Organizations

  • RAND Corporation

Tags

Communities of Interest

  • C4I
  • Materials and Manufacturing Processes

DTIC Thesaurus Topics

  • Air Force
  • Bargaining
  • Commerce
  • Commodities
  • Competition
  • Contracts
  • Cooperative Games
  • Corporations
  • Economic Models
  • Families (Human)
  • Game Theory
  • Recreation
  • United States

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