Abstract
In this chapter we will develop the principles, properties, and consequences of an idealized observation of a large market with pure competition. The observation is necessarily an idealized one, but we have carefully elaborated its correlation to practical measurement methods. With the help of our observation procedure we deduce a continuous counterpart of the original large market. The theoretic equivalence of both concepts is deduced. Elements of probability theory are not involved in the first chapter. They will be combined with the model developed here in the second chapter. Our goal is to install an observation approach closely related to practical measurement methods and to scrutinize its principal and logical implications for modeling a large market with pure competition.
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Klein, C. (1988). The Deterministic Grounding of the Model. In: A Static Microeconomic Model of Pure Competition. Lecture Notes in Economics and Mathematical Systems, vol 306. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-46639-7_2
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