The Economics of Imperfect Competition: A Spatial Approachby Melvin L. Greenhut, George Norman, Chao-Shun Hung
Pub. Date: 04/01/1987
Publisher: Cambridge University Press
This book takes a different approach to traditional price theory and to the analysis of imperfect competition. It represented a breakthrough in the development of a 'new' microeconomic theory. Increasingly, it has been recognized that the perfectly competitive paradigm is inappropriate to the explanation of pricing behaviour in many 'real life' markets characterized by a significant separation between producers and consumers. The spatial perspective adopted by the authors provides a natural separation of markets, but provides as well a powerful analogy for apparently nonspatial issues such as product differentiation, pricing over time, problems of storage and transportation, and the economics of intraindustry trade and of the multinational enterprise. A major concern of The Economics of Imperfect Competition: A Spatial Approach is to make these analogies explicit by applying this spatial analysis to a wide variety of nonspatial problems.
- Cambridge University Press
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- Product dimensions:
- 5.98(w) x 8.98(h) x 0.94(d)
Table of ContentsList of figures and tables; Preface; 1. Introduction; Part I. Nondiscriminatory Pricing: 2. A general theory of imperfect competition and nondiscriminatory pricing: the short run; 3. A general theory of imperfect competition and nondiscriminatory pricing: the long run; 4. Nondiscriminatory prices, economic development, and merger policies; 5. Product differentiation: a spatial f.o.b. perspective; Part II. Discriminatory Pricing: 6. Discriminatory pricing and alternative demand conditions; 7. Alternative pricing policies; 8. Discriminatory pricing and market overlap; 9. Intraindustry trade: a spatial approach; 10. Optimal pricing with delivered-price or transport constraints; 11. International and intranational pricing with a general cost function: an introduction to optimal-control theory; 12. Dynamic market strategy: further application of optimal-control theory; 13. Heterogeneous prices and heterogeneous goods; 14. Empirical findings on alternative pricing policies: demand and competitive impacts; Part III. Pricing, Location, and Competition: 15. General location and market-area principles; 16. Pricing, demand distribution, and location choice; 17. Optimal location in nonspatial markets: a spatial approach; 18. Competition, free entry, and long-run profit; 19. An efficient long-run allocative equilibrium; 20. Long-run locational equilibrium; 21. Epilogue; Notes; Bibliography; Author index; Subject index.
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