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The Monopolistic Competition Revolution in Retrospect (Paperback)
Loot Price: R1,419
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The Monopolistic Competition Revolution in Retrospect (Paperback)
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In 1977 a seminal paper was published by Avinash Dixit and Joseph
Stiglitz that revolutionized the modeling of imperfectly
competitive markets. It launched what might be called the second
monopolistic competition revolution, which has been far more
successful than the first one, initiated by Edward Chamberlin and
Joan Robinson in the 1930s. In this 2003 collection of essays
experts in the fields of macroeconomics, international trade
theory, economic geography, and international growth theory address
the question of why the second revolution was so successful. They
also highlight what is missing, and look forward to the next step
in the modeling of imperfectly competitive markets. The text
includes a comprehensive survey of both monopolistic competition
revolutions, and previously unpublished working papers by Dixit and
Stiglitz that led to their famous 1977 paper. With contributions
from Dixit, Ethier, Neary and Stiglitz amongst others, this
collection will excite interest amongst researchers, advanced
students and economists.
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