Author: Jean Jaskold Gabszewicz
Publisher: Edward Elgar Publishing
Published: 2002-01-01
Total Pages: 236
ISBN-13: 9781782543220
DOWNLOAD EBOOK →'To non-economists, it is hard to understand why economists spend so much effort on the competitive model whereas the world seems to be replete with large and powerful economic actors. In this respect, Jean Gabszewicz is atypical: he has spent most of his research time working on imperfectly competitive markets. However, instead of restricting himself to partial equilibrium analyses, he has tackled from the outset the problem of imperfect competition in a system of interrelated markets with the aim of studying how market power is spread throughout the whole system. This is one of the most challenging and fascinating tasks that economists face. But this is also a very hard one, and may explain why so few have tried. This book builds on the seminal contributions of Cournot and Edgeworth and does not intend to provide a full-fledged answer to the many questions raised by the general theory of imperfect competition. However, by presenting in a transparent way most of the problems that lie at the roots of imperfect competition in general equilibrium and by proposing various elegant solutions, it paves the way to any future research in the field. No doubt it will become a basic reference in the long run. The economics profession should thank Jean Gabszewicz for a fresh and daring way of looking at market power.' - Jacques Thisse, Université Catholique de Louvain, Belgium and École Nationale des Ponts et Chaussées, France Jean Gabszewicz's new book is devoted to the study of strategic multilateral exchange. Contrary to the classical competitive paradigm in which agents are assumed to behave as price takers, here traders are allowed to consciously behave as strategic agents who aim to influence trade to their own advantage. This is usually done in oligopoly theory using a partial equilibrium approach while in this case a system of interrelated markets is considered.
Author: Julio Rotemberg
Publisher: Forgotten Books
Published: 2015-07-23
Total Pages: 70
ISBN-13: 9781330418796
DOWNLOAD EBOOK →Excerpt from Dynamic General Equilibrium Models With Imperfectly Competitive Product Markets This paper discusses the consequences of introducing imperfectly competitive product into an otherwise standard neoclassical growth model. We pay particular attention to the consequences of imperfect competition for the explanation of fluctuations in aggregate economic activity. Market structures considered include monopolistic competition, the "customer market" model of Phelps and Winter, and the implicit collusion model of Rotemberg and Saloner. Empirical evidence relevant to the numerical calibration on imperfectly competitive models is reviewed. The paper then analyzes the effects of imperfect competition upon the economy's response to several kinds of real shocks, including technology shocks, shocks to the level of government purchases, and shocks that change individual producers' degree of market power. It also discusses the role of imperfect competition in allowing for fluctuations due solely to self-fulfilling expectations. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Author: Julio Rotemberg
Publisher:
Published: 1993
Total Pages: 82
ISBN-13:
DOWNLOAD EBOOK →This paper discusses the consequences of introducing imperfectly competitive product markets into an otherwise standard neoclassical growth model. We pay particular attention to the consequences of imperfect competition for the explanation of fluctuations in aggregate economic activity. Market structures considered include monopolistic competition, the 'customer market' model of Phelps and Winter, and the implicit collusion model of Rotemberg and Saloner. Empirical evidence relevant to the numerical calibration of imperfectly competitive models is reviewed. The paper then analyzes the effects of imperfect competition upon the economy's response to several kinds of real shocks, including technology shocks, shocks to the level of government purchases, and shocks that change individual producers' degree of market power. It also discusses the role of imperfect competition in allowing for fluctuations due solely to self-fulfilling expectations.
Author: Julio Rotemberg
Publisher: Forgotten Books
Published: 2018-01-02
Total Pages: 70
ISBN-13: 9780428214364
DOWNLOAD EBOOK →Excerpt from Dynamic General Equilibrium Models With Imperfectly Competitive Product Markets This paper discusses the consequences of introducing imperfectly competitive product into an otherwise standard neoclassical growth model. We pay particular attention to the consequences of imperfect competition for the explanation of fluctuations in aggregate economic activity. Market structures considered include monopolistic competition, the "customer market" model of Phelps and Winter, and the implicit collusion model of Rotemberg and Saloner. Empirical evidence relevant to the numerical calibration on imperfectly competitive models is reviewed. The paper then analyzes the effects of imperfect competition upon the economy's response to several kinds of real shocks, including technology shocks, shocks to the level of government purchases, and shocks that change individual producers' degree of market power. It also discusses the role of imperfect competition in allowing for fluctuations due solely to self-fulfilling expectations. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Author: Dirk Willenbockel
Publisher:
Published: 1994-11-29
Total Pages: 288
ISBN-13:
DOWNLOAD EBOOK →Provides a step-by-step introduction to applied general equilibrium modelling of trade policy reforms and regional economic integration initiatives. Includes a detailed description of a contemporary practical application to assess the economic consequences of the single European Market.
Author: John Eatwell
Publisher: Springer
Published: 1989-09-21
Total Pages: 321
ISBN-13: 1349202150
DOWNLOAD EBOOK →This is an extract from the 4-volume dictionary of economics, a reference book which aims to define the subject of economics today. 1300 subject entries in the complete work cover the broad themes of economic theory. This volume concentrates on the topic of allocation information and markets.
Author: Jean-Pascal Bénassy
Publisher: Mit Press
Published: 2002
Total Pages: 272
ISBN-13: 9780262025287
DOWNLOAD EBOOK →A single unified framework that integrates dynamic macroeconomics models on general equilibrium theory, imperfect competition, nonclearing markets, and rational expectations.