imperfect competition


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imperfect competition

n
(Economics) economics the market situation that exists when one or more of the necessary conditions for perfect competition do not hold
Translations

imperfect competition

References in periodicals archive ?
In particular, depending on the relative strengths of the interest groups and on the nature of the international economy (perfect competition, imperfect competition, and asymmetric information), the impact of trade liberalization can vary widely.
However, the market in Asia Pacific for automobile and related products was subjected to imperfect competition and resulted in huge capacity, large number of competitors and high redundancy and overlap.
We focus on two issues: how the existence of imperfect competition magnifies the impact of disturbances to technology and preferences and second, how it affects the propagation of these disturbances over time.
However, they also suggest that we can improve the measure for technology shocks by eliminating the effects of markup and increasing RTS from the SR, in addition to that of variable capital utilization, under conditions of increasing RTS and imperfect competition.
The undergraduate textbook examines oligopoly as imperfect competition, the effect of free trade on American workers, the role of the WTO, the relationship between globalization and child labor, and the trade deficit as a symptom of citizens not saving enough.
Sardoni argues that, by abandoning the assumption of free competition and adopting a theory of imperfect competition based upon a 'profit mark-up' approach and the 'degree of monopoly', Kalecki provides a more coherent set of micro-foundations in analysing the macroeconomic problems of unemployment and effective demand.
Later on new trade theory incorporated imperfect competition and increasing returns (Baldwin, 2005).
This year's prize highlights Levin's research contributions on contracting, the organization and design of markets, sub-prime lending, and the design of empirical methods for studying imperfect competition.
These major theoretical contributions have enabled NEG researchers to operate with several key-terms: the general equilibrium model of a spatial economy, which is different from the approach derived from the traditional theory of location and economic geography; increasing returns or indivisibilities of the individual producer, which prevent the economy to degenerate into a "backyard capitalism" (in which every household produces for personal consumption); imperfect competition, due to increasing returns; transport costs, which make location matter; changing the location of production factors and consumers is a prerequisite for agglomeration.
in [4] the interaction of domestic wheat policies in the international wheat market is analyzed through the constructs of imperfect competition theory; the formation of a market-share triopoly between U.
Given the risk of regulatory capture, Howell argues that imperfect competition law is superior to ex ante regulatory intervention.
Brief references to entrepreneurs making price changes are sometimes incorporated in textbook chapters presenting the supply and demand model, and virtually no references are to be found in discussions of imperfect competition to the role of entrepreneurs in coordinating market activity.