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 ?
Together with Joan Robinson, the British economist who wrote "The Economics of Imperfect Competition," Professor Chamberlin was one of the first to question the beneficial effects of a free market economy.
In economics term, it is an oligopoly, which is characterized by imperfect competition in which the industry is dominated by a small number of suppliers.
Scale efficiency is suggested to measure the difference in efficiency when firms operate under imperfect competition and financial constraints, etc.
While notions such as supply and demand, product differentiation, and imperfect competition will always be salient, economists rendered themselves largely irrelevant.
These types of approaches -- what I call "all good things go together" policies -- are easily applied to education, but can also work in other sectors of the economy that are squeezed by imperfect competition. More vigorous antitrust policies, for example, could boost efficiency and improve income distribution.
In Pass-Through of Input Cost Shocks Under Imperfect Competition: Evidence from the U.S.
* Ayumu Ken Kikkawa, University of Chicago; Glenn Magerman, Universite Libre de Bruxelles; and Emmanuel Dhyne, National Bank of Belgium, "Imperfect Competition and the Transmission of Shocks: The Network Matters"
As economic theory goes, there are four sources of market failure: imperfect competition, public goods, externalities and asymmetric information.
These types of approaches - what I call "all good things go together" policies - could be applied to other sectors of the economy that are being squeezed by imperfect competition. More vigorous antitrust policies, or increased consumer ownership of data, could strengthen competition and, in the process, boost efficiency and improve income distribution.
In imperfect competition markets, firms hope to find the stable competitive scenario, which may maximize the utility of the company.
Any variation on these assumptions shifts the analysis onto imperfect competition. Although an analysis based on imperfect competition would seem more realistic, the mainstream ideal is still envisioned to be a free market system in which prices are flexible.
Take a case where the market is not perfectly competitive, the case of imperfect competition where a small number of firms control the market.