Lee, Frederic (2011): Old controversy revisited: pricing, market structure, and competition.
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In this essay, I examine the connection between pricing, profit mark ups, competition, and economic activity from a heterodox perspective. These issues are examined utilizing a two-industry Burchardt-Kaleckian production model and a labor-based mark up pricing model; the conclusion reached is that market structure and competition have no fundamental role in affecting pricing, profit mark ups, or economic activity. However, it is generally perceived in heterodox economics that competition does play an important role in the economy. This theme is discussed in conjunction with the going business enterprise.
|Item Type:||MPRA Paper|
|Original Title:||Old controversy revisited: pricing, market structure, and competition|
|Keywords:||Heterodox; Pricing; Competition|
|Subjects:||D - Microeconomics > D4 - Market Structure, Pricing, and Design
B - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches
|Depositing User:||Frederic Lee|
|Date Deposited:||04. May 2011 13:31|
|Last Modified:||09. Mar 2015 16:56|
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