In "Monopolistic Competition
and Multiproduct Brand Names" (Margolis 1989), he reformulates and extends Demsetz's argument against the theory of monopolistic competition
The model calculates H-statistic (Degree of competition) between 0 and 1, where 1 implies Perfect competition, 0 implies collusive monopoly and less than 1 implies monopolistic competition
. The model was used by Nathan and Neave (1989) to determine degree of competition in the US and Canadian banking markets.
He focusses on George Stigler as a key player in the Chicago School and then uses Stigler's attack on Chamberlin's theory of monopolistic competition
as a distinct case 'to explore and demonstrate the mode and method of Stigler's critical attacks' (Freedman 2016, 182).
Finally, an essential characteristic of the economy of culture, but paradoxically the least often developed in the economic literature relates to the so-called monopolistic competition
Among the topics are the role and method of economics, the economic way of thinking, using supply and demand, market failure and public choice, production and costs, firms in perfectly competitive markets, monopolistic competition
and oligopoly, economic growth, economic growth, aggregate demand and aggregate supply, fiscal policy, monetary institutions, the Federal Reserve and monetary policy, issues in macroeconomic theory and policy, and international economics.
One reason was that Mises did not accept the concept of prices pertaining to imperfect competition or monopolistic competition
. (1949, pp.
If there are only large-scale corporations either, then there would be a monopoly in an industry, or oligopoly, or monopolistic competition
, then the major portion of national income and wealth would move within the hands of big capitalists.
The monopolist and monopolistic competition
market structure is a dampener for Schumpeterian entrepreneurship and fosters only the replicative kind.
Table 2 presents the means and standard deviations of the nominal policy interest rate, the inflation rate, and output for four different cases: (a) money demand only, that is, flexible prices, perfect product markets, and frictionless credit markets; (b) sticky prices and monopolistic competition
only, that is, model with neither money demand nor credit frictions; (c) sticky prices, monopolistic competition
, money demand, but no credit frictions; and (d) the full model, that is, money demand, sticky prices, monopolistic competition
, and credit frictions.
and EU-14) for creating their own model based on the assumptions of monopolistic competition
. They defined the level differences between actual corporate tax rates and estimated tax rates which maximize tax revenue for each economy which was included within their research.
Chapters cover: economic analysis; economic tools and economic systems; economic decision makers; demand, supply, and markets; elasticity of demand and supply; consumer choice and demand; production and cost in the firm; perfect competition; monopoly; monopolistic competition
and oligopoly; resource markets; labor markets and labor unions; capital, interest, entrepreneurship, and corporate finance; transaction costs, imperfect information, and behavioral economics; economic regulation and antitrust policy; public goods and public choice; externalities and the environment; income distribution and poverty; international trade; international finance; and economic development.