Abstract
Nowadays everyone is willing to admit that the traditional theory of value based on the assumption of perfect competition is highly unrealistic and that competition in practice is very imperfect. I wish to carry the argument a step further and to maintain that there are logical contradictions in the basic conception of competition as an equilibrium state of affairs.
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© 1954 International Economic Association
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Robinson, J. (1954). The Impossibility of Competition. In: Chamberlin, E.H. (eds) Monopoly and Competition and their Regulation. International Economic Association Coference Numbers 1–50. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-08434-0_12
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DOI: https://doi.org/10.1007/978-1-349-08434-0_12
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-08436-4
Online ISBN: 978-1-349-08434-0
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