The Economics of Imperfect Competition: A Spatial Approach,Melvi

The Economics of Imperfect CompetitionA Spatial Approach\nAuthor(s): Melvin L. Greenhut, George Norman, Chao-Shun Hung\nFormat: Paperback\nPublisher: Cambridge University Press, United Kingdom\nImprint: Cambridge University Press\nISBN-13: 9780521315647, 978-0521315647\nSynopsis\nThis book takes a different approach to traditional price theory and to the analysis of imperfect competition. It represented a breakthrough in the development of a 'new' microeconomic theory. Increasingly, it has been recognized that the perfectly competitive paradigm is inappropriate to the explanation of pricing behaviour in many 'real life' markets characterized by a significant separation between producers and consumers. The spatial perspective adopted by the authors provides a natural separation of markets, but provides as well a powerful analogy for apparently nonspatial issues such as product differentiation, pricing over time, problems of storage and transportation, and the economics of intraindustr.