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What is Perfect Competition?

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  • Joan Robinson

Abstract

Two notions often lumped together, 104.— The idea of normal profits, 106.— Not connected with perfect competition, 107.— Two levels of normal profits, 108.— Conditions necessary for perfect competition: the character of the market, 112; the number of firms selling in the market, 114.— The assumption that the output of other firms remains unchanged, 117.— Conclusion, 119.

Suggested Citation

  • Joan Robinson, 1934. "What is Perfect Competition?," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 49(1), pages 104-120.
    • Handle: RePEc:oup:qjecon:v:49:y:1934:i:1:p:104-120.
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    Cited by:

    1. Mertens, Matthias, 2023. "Labor Market Power and Between-Firm Wage (In)Equality," International Journal of Industrial Organization, Elsevier, vol. 91(C).
    2. Hannes Hobbie & Constantin Dierstein & Dominik Möst & Matthew Schmidt, 2023. "Learning by Doing: Insights from Power Market Modelling in Energy Economics Courses," SN Operations Research Forum, Springer, vol. 4(2), pages 1-28, June.
    3. Jeffrey M. Perloff & Steven C. Salop, 1985. "Equilibrium with Product Differentiation," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 52(1), pages 107-120.
    4. Eduard Hartwich & Alexander Rieger & Johannes Sedlmeir & Dominik Jurek & Gilbert Fridgen, 2023. "Machine economies," Electronic Markets, Springer;IIM University of St. Gallen, vol. 33(1), pages 1-13, December.
    5. Golecha, Rajdeep & Gan, Jianbang, 2016. "Effects of corn stover year-to-year supply variability and market structure on biomass utilization and cost," Renewable and Sustainable Energy Reviews, Elsevier, vol. 57(C), pages 34-44.
    6. Ruyun (Ivy) Feng & Michael D. Kimbrough & Sijing Wei, 2022. "The role of information transparency in the product market: an examination of the sustainability of profitability differences," Review of Accounting Studies, Springer, vol. 27(2), pages 668-705, June.
    7. Heritiana Ranaivoson, 2005. "The economic analysis of product diversity," Cahiers de la Maison des Sciences Economiques r05083, Université Panthéon-Sorbonne (Paris 1).
    8. Jacques-François Thisse & Philip Ushchev, 2018. "Monopolistic competition without apology," Chapters, in: Luis C. Corchón & Marco A. Marini (ed.), Handbook of Game Theory and Industrial Organization, Volume I, chapter 5, pages 93-136, Edward Elgar Publishing.
    9. Mathieu Parenti & Alexander V. Sidorov & Jacques-François Thisse & Evgeny V. Zhelobodko, 2017. "Cournot, Bertrand or Chamberlin: Toward a reconciliation," International Journal of Economic Theory, The International Society for Economic Theory, vol. 13(1), pages 29-45, March.
    10. Vincent Zha, 2021. "The separation of market and price in some free competitions and its related solution to the over-application problem in the job market," Papers 2106.05972, arXiv.org, revised Jun 2021.
    11. Marc Cowling & Simon Peter Nadeem, 2020. "Entrepreneurial Firms: With Whom Do They Compete, and Where?," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 57(3), pages 559-577, November.
    12. Luca Zamparelli, 2009. "Average cost and marginal cost pricing in Marshall: Textual analysis and interpretation," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 16(4), pages 665-694.
    13. Mark Hayes, 2006. "The Economics of Keynes: A New Guide to The General Theory," Books, Post Keynesian Economics Society (PKES), number nggt.
    14. Rossitsa Chobanova, 2023. "Evaluation of innovations in enterprises: theoretical aspects," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 4, pages 359-379.
    15. Heritiana Ranaivoson, 2005. "The economic analysis of product diversity," Post-Print halshs-00197137, HAL.
    16. Parenti, Mathieu & Sidorov, Alexander & Thisse, Jacques-François, 2014. "Revisiting Cournot and Bertrand in the presence of income effects," MPRA Paper 69641, University Library of Munich, Germany.
    17. Arndt Feuerbacher & Theresa Herbold & Falk Krumbe, 2024. "The Economic Value of Pollination Services for Seed Production: A Blind Spot Deserving Attention," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 87(4), pages 881-905, April.
    18. Claudio Sardoni, 2011. "Unemployment, Recession and Effective Demand," Books, Edward Elgar Publishing, number 13837.
    19. Georgi Burlakov, 2015. "Exogenous Expenses in Industries with Vertical Product Differentiation and Quality Constraints," CERGE-EI Working Papers wp530, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    20. Puty, Cláudio Alberto Castelo Branco, 2018. "Sectoral mark-ups in U.S. Manufacturing," Structural Change and Economic Dynamics, Elsevier, vol. 46(C), pages 107-125.
    21. Ilona Bažantová & Jan Horych, 2022. "Konkurence a monopol v předkeynesovské neoklasice a koncepce J. Robinsonové a E. Chamberlina [Competition and Monopoly in Pre-Keynesian Neoclassicism and the Concepts of J. Robinson and E. Chamberl," Politická ekonomie, Prague University of Economics and Business, vol. 2022(3), pages 361-382.
    22. Christoph Feichter & Frank Moers & Oscar Timmermans, 2022. "Relative Performance Evaluation and Competitive Aggressiveness," Journal of Accounting Research, Wiley Blackwell, vol. 60(5), pages 1859-1913, December.
    23. Emaeyak Peter Sylvanus & Obiocha Purity Eze-Emaeyak, 2018. "The business of film music in mainstream Nollywood: competing without advantage," Journal of Cultural Economy, Taylor & Francis Journals, vol. 11(2), pages 141-153, March.
    24. Bullock, J. Bruce, 1981. "Research Priorities in Agricultural Marketing: A Perspective from Academia," 1981 Annual Meeting, July 26-29, Clemson, South Carolina 279377, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    25. Bullock, J. Bruce, "undated". "Research Priorities in Agricultural Marketing," Working Papers 256563, University of Missouri Columbia, Department of Agricultural Economics.

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