Theory of Markets
by
Tun Thin
Book Details
Format
Hardback or Cased Book
Book Series
Harvard Economic Studies
ISBN-10
0674880803
ISBN-13
9780674880801
Publisher
Harvard University Press
Imprint
Harvard University Press
Country of Manufacture
US
Country of Publication
GB
Publication Date
Jan 1st, 1960
Print length
120 Pages
Weight
272 grams
Product Classification:
Business & management
Ksh 3,750.00
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Concerned primarily with oligopoly, this work includes a general study of pricing in three different markets—perfect competition, perfect monopoly, and imperfect competition. The solutions of these markets offered by Cournot, Smithies, Chamberlin, Stackelberg, Fellner, and Robinson are presented mathematically, followed by the author’s own version of the theory of rational pricing in oligopoly. Previous authors have not allowed for all the variables arising from profit and price situations in the market. Here, more realistic assumptions and more complex analyses indicate that sellers in oligopoly situations do not always need to arrange specific agreements—hence, that “administered” pricing does not inevitably occur when the market is dominated by a few producers.
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