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The Economics of Sellers' Competition Model Analysis of Sellers' Conduct

1952

by Stocking and Machlup

Fritz MachlupFrank KnightJoan RobinsonPrice TheoryValuationMonopolyOligopolyBusiness CyclesCartelsCompetitionElasticity of DemandEquilibriumMethodologyAccountingDepreciationMarginal CostOpportunity CostWelfare EconomicsEmpiricismMarginalismProductivityProfit and LossPrice FormationExpectationsMonopolistic CompetitionUncertaintyRationalizationPrice ControlsImmanuel KantMarket StructureNeoclassical EconomicsErich SchneiderPerfect CompetitionProduction CostsInnovationNicholas KaldorGeorge StiglerJoseph SchumpeterTrade UnionsVerstehenEconomies of ScaleGold StandardInfrastructureRobert TriffinEntrepreneurshipProperty RightsCapital TheoryFixed CapitalTaxationRaw MaterialsGround RentMathematical EconomicsJohn Stuart MillAntoine Augustin CournotFrancis Ysidro EdgeworthSpeculationArthur Cecil PigouVilfredo ParetoIdeal TypeInstitutionalismInterventionismGame TheoryJohn von NeumannOskar MorgensternCoercionDemocracyWalter EuckenJohn Maynard KeynesProtectionism

Table of Contents · 131 segments

1
Title Page, Publication Data, and Books by Fritz Machlupbibliography
2
Author's Prefaceessay
3
Table of Contentsbibliography
4
Analytical Table of Contentsbibliography
5
List of Graphsbibliography
6
Chapter 1: Model Analysis, Prices, Costs, and Levels of Price Theorychapter
7
Chapter 1: The Lack of Actual Price and Cost Datachapter
8
Chapter 1: Average Cost, Marginal Cost, and Hypothetical Price-Cost Scheduleschapter
9
Chapter 2: Theory of the Firm and Conduct Models Beginningchapter
10
Final Simplifying Assumptions and the Marginalist Way of Thinkingtheoretical
11
The "Determination" of Prices, Output and Inputtheoretical
12
Subjectivity of Cost and Revenuetheoretical
13
Omitted Variables and the Range of Price and Output Variationstheoretical
14
Numerical Definiteness and the Extreme Difficulty of Calculatingtheoretical
15
The Time-Range of Anticipationstheoretical
16
The Analysis of Change Needs No Exactnesstheoretical
17
Maximum Profit, Security, and Most-Favored Odds under Uncertaintytheoretical
18
Non-Pecuniary Considerationstheoretical
19
Chapter 3 opening: business language, rationalizations, and averaging over timetheoretical
20
Potential average costs and average-cost pricing as a lawyer's idealtheoretical
21
Accountants, cartels, demand elasticity, and empirical pricing researchtheoretical
22
Numerical estimates, empirical evidence, rival pricing theories, monopoly, and break-even chartstheoretical
23
Theory and practice in criticism of the theory of the firmtheoretical
24
Chapter 4 Opening: Competing Connotations of Competitionchapter
25
Polypoly: Sellers Among Very Manytheoretical
26
Oligopoly: Rival-Conscious Sellerstheoretical
27
Pliopoly: Newcomers' Competition and Entrytheoretical
28
Monopoly: Seller Without Competitortheoretical
29
Perfect Market and Chapter 4 Summarytheoretical
30
Appendix to Chapter 4: Types of Competition in Buyingtheoretical
31
Chapter 5: Perfect and Imperfect Polypoly — Characteristics and Criteriachapter
32
Perfect Polypoly: Output, Expectations, and Firm Sizetheoretical
33
Imperfect Polypoly and Transport Coststheoretical
34
Appendix to Chapter 5: Marginal Revenue and Elasticity of Demandtheoretical
35
Chapter 6: Polypolistic Nonprice Competitionchapter
36
Polypolistic Quality Competition: Measurability, Variable Prices, and Demand Elasticitytheoretical
37
Imperfect Polypoly, Price and Quality Competition: Demand Effects of Quality Improvementtheoretical
38
Quality Determination with Fixed Selling Pricestheoretical
39
Polypolistic Competition Through Selling Effort: Selling Effort, Quality, and Measurementtheoretical
40
The Effect of a Given Selling Effort on Demand Curvestheoretical
41
Quasi-Perfect Polypoly: Horizontal Demand and Its Causestheoretical
42
Quasi-Perfect Polypoly: Followers, Government Purchases, and Counterspeculationtheoretical
43
The Rise or Decline of Polypolytheoretical
44
Imperfect Polypoly and General Equilibriumtheoretical
45
Variable Selling Efforts, Variable Prices, and Net Demand Curvestheoretical
46
Selling Costs versus Production Coststheoretical
47
Determination of Selling Effort with Fixed Selling Pricestheoretical
48
Chapter 7 Opening: Pliopoly as Newcomers' Competitionchapter
49
Pliopoly Preconditions, Industry Boundaries, and Profit Conceptstheoretical
50
Entrepreneurship, Uncertainty, and Indivisibility as Limits to Pliopolytheoretical
51
Immobility, Monopoly Rents, and Cheap Resourcestheoretical
52
Chapter 8: Pliopoly, Profits, Rents, and Artificial Scarcity—Ex Ante and Ex Post Distinctionschapter
53
Discrepancies in Profit Calculations by Insiders, Outsiders, and Economiststheoretical
54
Relevant Profit Calculations for Entry and Pliopolytheoretical
55
Advance Calculation and Prospectus: Paper-Board Mill Exampletheoretical
56
Accounting and Economic Concepts in Cost and Profit Analysistheoretical
57
Costs, Rents, and Profits: Distribution of Gross Revenuetheoretical
58
Profit Estimates by Outsiders, Insiders, and Economists; Types A–Dtheoretical
59
Positive and Absent Outsider Profit Expectations: Disequilibrium, Barriers, Uncertainty, and Indivisibilitytheoretical
60
The Economist’s Dissenting Calculation: Rents Hidden as Expenses or Capital Assetstheoretical
61
Monopoly Rents in the Form of Factor Coststheoretical
62
Artificial Scarcity, Natural Scarcity, and Monopolistic Barrierstheoretical
63
Chapter 9 Opening: Group Equilibrium and Marginal Unitschapter
64
Perfect Polypoly and Perfect Pliopoly: Profit Maximization, Equalization, and Price Expectationstheoretical
65
A Model Sequence of Price Adjustment and the Dispersion of Expected Pricestheoretical
66
The Adjustment of Cost Conditions and Average Cost Inclusive of Renttheoretical
67
The Transformation of Implicit Rent into Money Costtheoretical
68
Capacity Output and Optimum Sizetheoretical
69
Lowest-Cost Output, Firm Size, Quasi-Rent, and Scarcity Renttheoretical
70
Chapter 10 Opening: Imperfect Pliopoly with Perfect Polypoly and Perfect Pliopoly with Imperfect Polypolychapter
71
Tangency Rule, Differential Rent, and Excess Capacity under Differentiated Polypolychapter
72
The Wastes and Benefits of Newcomers' Competitionchapter
73
Imperfect Polypoly with Imperfect Pliopoly and Transition to Few Sellerschapter
74
Chapter 11 opening, terminology, and introductory note on oligopoly characteristicstheoretical
75
Characteristics of oligopoly: monopoly power, rival consciousness, demand curves, and split personalitytheoretical
76
Classifications of oligopoly by differentiation, entry, leadership, collusion, coordination, and conflicttheoretical
77
Chapter 12 introduction: classical duopoly models, method, and common demand schedulechapter
78
Cournot and Bertrand models: output adjustment, price cutting, and equilibriumtheoretical
79
Edgeworth model: capacity constraints, price oscillation, and comparison prefacetheoretical
80
Comparison of classical duopoly models: prices, conjectures, reactions, and summary tabletheoretical
81
Uniform market prices, two-price Edgeworth outcomes, and buyer inertiatheoretical
82
Extensions of classical models and the role of product differentiationtheoretical
83
Cost functions, cost asymmetry, and partial monopolytheoretical
84
Asymmetry of attitudes, compatibility, and oligopolistic indeterminacytheoretical
85
Non-zero conjectural variation, Bowley, and definite countermovestheoretical
86
Quasi-collusion and additional variables: quality, promotion, and spatial competitiontheoretical
87
From duopoly to oligopoly: more than two sellers and the limits of number-based theorytheoretical
88
Oligopolistic Indeterminacy: General Meaning and Pure versus Applied Economicschapter
89
Anonymous Masses, Extra-Economic Factors, and the Motives of Position and Securitytheoretical
90
Military Strategy, Game Theory, and the Strong Sparing the Weaktheoretical
91
Coordination, Collusion, and Cooperation in Oligopolytheoretical
92
The Rationale and Degrees of Collusiontheoretical
93
The Forms of Collusiontheoretical
94
Quasi-Agreements, Comprehensiveness of Collusion, and General Equilibriumtheoretical
95
Chapter 14 Opening and the Nonprice Variablestheoretical
96
Distinctions, Limits, and Significance of Oligopolistic Quality Competitiontheoretical
97
Determination of Nonprice Outlay and Transition to Oligopolistic Price Rigiditytheoretical
98
The Concept of Price Rigiditytheoretical
99
General Causes of Price Rigiditytheoretical
100
Oligopoly-Specific Reasons for Price Rigiditytheoretical
101
The Kink Theory of Price Rigiditytheoretical
102
Chapter 15 Opening: Organized Oligopoly and Approximation to Monopoly Policytheoretical
103
The Policy of a Syndicatetheoretical
104
Price Cartel Policies and Member Conduct Under Given Rulestheoretical
105
Cartel Member Output Sanctions and Renegotiation Incentivestheoretical
106
Cartel Negotiations and Cartel Governmenttheoretical
107
Leadership Oligopoly and Concepts of Leadershiptheoretical
108
Qualifications of the Price Leadertheoretical
109
Chain Oligopoly and Guessing-Game Oligopolytheoretical
110
Historical Trends in Oligopolytheoretical
111
Partial Monopoly, Partial Oligopoly, and Small Competitorstheoretical
112
Rotating Leadership, Divided Leadership, and Unorganized Cooperationtheoretical
113
Chapter 16 Opening: Oligopoly and Pliopoly Combinedchapter
114
Free Entry, Gluts, Cartels, and Overexpanded Industriestheoretical
115
Cartels in Open Industries and Excess Capacitytheoretical
116
Fighting and Hyper-Competitive Oligopolytheoretical
117
Cartel Equilibrium Under Free Entry: Excess Capacity and Instabilitytheoretical
118
Mergers and Concentration in Open Industriestheoretical
119
The Essential Differences Between Cartelization and Merger Concentrationtheoretical
120
The Threat of Potential Competition and Entry Deterrencetheoretical
121
Chapter 17: Monopoly—Contents and Introductory Framingchapter
122
The Characteristics of Monopolytheoretical
123
The Absence of Pliopolytheoretical
124
Long-Range Monopoly Policiestheoretical
125
Short-Range Monopoly Policiestheoretical
126
Imperfect Monopoly and Potential Competitiontheoretical
127
Distinctions Between Imperfect Monopoly and Oligopolytheoretical
128
Government Sanctions and Organized Public Reactiontheoretical
129
Restraints Due to Bilateral Monopolytheoretical
130
Joint Supply, Related Demand, and Discriminatory Pricingtheoretical
131
Indexbibliography