Monopolistic Competition and Effective Demand. (PSME-6)

While traditional price theory has successfully elucidated national income distribution in a perfectly competitive economy, little is known today about the overall working of a noncompetitive economy. This book moves to remedy the imbalance by sketching a general equilibrium theory of a noncompetitive economy.

Developing his theory in the world of the standard Leontief system, Hukukane Nikaido attempts to construct objective demand functions reflecting the interdependence of economic agents ...