1427:, The Herfindahl index defined as the sum of the squared market shares of all the firms in the market. Increases in the Herfindahl index generally indicate a decrease in competition and an increase of market power, vice versal. Generally, the Herfindahl index conveys more information than the N-firm concentration ratio.In general, this index can also measure the market concentration of the top n companies, and the impact of corporate mergers and acquisitions on the market structure. And although any relationship between Herfindahl index and concentration ratio can only provide a rough approximation, the estimation (prediction) of Herfindahl index becomes rapidly more accurate when given some of the largest market shares.
1009:, a type of imperfect competition where there are many sellers, selling products that are closely related but differentiated from one another (e.g. quality of products may differentiate) and hence they are not perfect substitutes. This market structure exists when there are multiple sellers who attempt to seem different from one another. Examples: toothpaste, soft drinks, clothing as they are all heterogeneous products with many buyers and sellers, no to low entry barriers but are different from each other due to quality, taste, or branding. Firms have partial control over the price as they are not price takers (due to differentiated products) or Price Makers (as there are many buyers and sellers).
994:, dealing with homogeneous products with no differentiation, where the price is fixed by the market. Individual firms are price takers as the price is set by the industry as a whole. Example: Agricultural products which have many buyers and sellers, selling homogeneous goods where the price is determined by the demand and supply of the market and not individual firms. In the short run, a firm in a perfectly competitive market may gain profits or loss, but in the long run, due to the entry and exit of new firms, price will equal ATC in the long run, which is the lowest point of average total cost.
1020:
can be homogeneous or differentiated). Three types of oligopoly. Due to the hallmark of oligopoly being the presence of strategic interactions among rival firms, the optimal business strategy of an enterprise can be studied through the thought of game theory. Under the logic of game theory, enterprises in oligopoly market have interdependent behavior. These actions are non-cooperative, each company is making decisions that maximize its own profits, and equilibrium is reached when all businesses are doing their best, taking into account the actions of their competitors.
1068:, where there is only one seller of a product or service which has no substitute. The firm is the price maker as they have control over the industry. There are high barriers to entry, which an incumbent would conduct entry-deterring strategies of keeping out entrants reaping additional profits for the company. Frank Fisher, a noticed antitrust economist has described monopoly power as “the ability to act in an unconstrained way,” such as increasing price or reducing quality. Example:
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relationship between buyers (enterprises or consumers) and the relationship between buyers and sellers. The relationship between the buyer and seller of the market and the buyer and seller entering the market. These relationships are the market competition and monopoly relationships reflected in economics.
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Market structure provides indication on potential opportunities and threats which can influence business to adapt there processes and operations in order to meet market structure requirements in order to stay competitive. For example being able to understand market structure will help to identify any
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exist and dominate the market conditions. The elements of Market
Structure include the number and size of sellers, entry and exit barriers, nature of product, price, selling costs. Market structure can alter based on the new external factors, such as technology, consumer preferences and new entrants.
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Different market structures will also lead to different levels of social welfare. Generally speaking, as the degree of competition increases, the total social welfare measured by producer surplus plus consumer surplus will rise. The total surplus of perfect competition market is the highest. And the
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There are a large number of enterprises, there are no restrictions on entering and exiting the market, and they sell different products of the same kind, and enterprises have a certain ability to control prices. Monopolies have complete market control as the barriers to entry are high and the threat
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Different aspects that have been taken into account to measures the innovative advantage within particular market structures are: the size distribution of firms, the existence of certain barriers to entry, and the stage of industry in the product lifecycle. Creating another measure to determine the
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Besides market structure, many factors contribute to conduct and market performance. Market pressures are similarly evolving therefore when decision making based on market performance it is essential to assess all the circumstances affecting competition rather than rely solely on measures of market
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by following price rigidity. They closely monitor the prices of their competitors and change prices accordingly. Oligopoly firms focus on quality and efficiency of their products to compete with other firms. Example: Network providers ( Entry barriers, Small number of sellers, many buyers, products
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Competition is useful because it reveals actual customer demand and induces the seller (operator) to provide service quality levels and price levels that buyers (customers) want, typically subject to the seller's financial need to cover its costs. In other words, competition can align the seller's
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principles outlining the operation of the market in the absence of dominant political mechanisms of control, while Karl Marx discussed the working of the market in the presence of a controlled economy sometimes referred to as a command economy in the literature. Both types of market structure have
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N-firm concentration ratio, N-firm concentration ratio is a common measure of market structure. This gives the combined market share of the N largest firms in the market. For example, if the 5-firm concentration ratio in the United States smart phone industry is about .8, which indicates that the
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The number of enterprises is small, entry and exit from the market are restricted, product attributes are different, and the demand curve is downward sloping and relatively inelastic. Oligopolies are usually found in industries in which initial capital requirements are high and existing companies
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The main body of the market is composed of suppliers and demanders. Both parties are equal and indispensable. The market structure determines the price formation method of the market. Suppliers and
Demanders (sellers and buyers) will aim to find a price that both parties can accept creating a
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Market definition is an important issue for regulators facing changes in market structure, which needs to be determined. The relationship between buyers and sellers as the main body of the market includes three situations: the relationship between sellers (enterprises and enterprises), the
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can flow freely. In today's time, Karl Marx's theory about political influence on market makes sense as firms and industry are affected strongly by the regulation, taxes, tariffs, patents imposed by the government. These affect the barriers to entry and exit for the firms in the market.
936:, depicts how firms are differentiated and categorised based on the types of goods they sell (homogeneous/heterogeneous) and how their operations are affected by external factors and elements. Market structure makes it easier to understand the characteristics of diverse markets.
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The number of enterprises is only one, access is restricted or completely blocked, and the products produced and sold are unique and cannot be replaced by other products. The company has strong control and influence over the price of the entire market.
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and an asymmetry between the government and the operator with respect to objectives and information: (a) subjecting the operator to competitive pressures, (b) gathering information on the operator and the market, and (c) applying incentive regulation.
1096:, when there is only a single buyer in a market. Discussion of monopsony power in the labor literature largely focused on the pure monopsony model in which a single firm comprised the entirety of demand for labor in a market (e.g., company town).
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interests with the buyer's interests and can cause the seller to reveal his true costs and other private information. In the absence of perfect competition, three basic approaches can be adopted to deal with problems related to the control of
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total surplus of imperfect competition market is lower. In the monopoly market, if the monopoly firm can adopt first-level price discrimination, the consumer surplus is zero and the monopoly firm obtains all the benefits in the market.
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cause efficiency to increase continuously with the size of the firm. A firm is a natural monopoly if it is able to serve the entire market demand at a lower cost than any combination of two or more smaller, more specialized
1000:
refers to markets where standards for perfect competition are not fulfilled (such as no barriers for entry and exit, homogeneous products and many buyers and sellers). All other types of competition come under imperfect
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Market structure is important for a firms use as it motivations, decision making, opportunities. This will incur changes to current market standings affecting: market outcomes, price, availability and variety.
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was the first to analyze this model in 1883. In
Bertrand’s model, there are two firms and each firm selects a price to maximize its own profits, given the price that it believes the other firm will select.
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Market structure has been apparent throughout history due to its natural influence it has on markets, this can be based on the different contributing factors that market up each type of market structure.
1072:(1870–1911)Under monopoly, monopoly firms can obtain excess profits through differential prices. According to the degree of price difference, price discrimination can be divided into three levels.
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refers to a market structure where only a small number of firms operate together control the majority of the market share. Firms are neither price takers or makers. Firms tend to avoid
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KvĂĄlseth, T. O. (2018). Relationship between concentration ratio and
Herfindahl-Hirschman index: A re-examination based on majorization theory. Heliyon, 4(10), e00846.
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who have strong conflicting viewpoints on how the market operates in presence of political influence. Adam Smith in his writing on economics stressed the importance of
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Therefore, elements of Market
Structure always stay the same but the importance of a single element may change making it more influential on the current structure.
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current market structure that can be used as evidence or to evaluate current market performance thus it can be used to forecast and determine future trends.
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The correct sequence of the market structure from most to least competitive is perfect competition, imperfect competition, oligopoly, and pure monopoly.
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in 1835. In
Cournot’s model, there are two firms and each firm selects a quantity to produce, and the resulting total output determines the market price.
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1034:. A duopoly in theory could have the same effect as a monopoly on pricing within a market if they were to collude on prices and or output of goods.
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Bykadorov, I.A., Kokovin, S.G. & Zhelobod’ko, E.V. Product diversity in a vertical distribution channel under monopolistic competition.
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structure. Using a single measurement of market share can be misleading or inconclusive as only indicators are taken into account.
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1968:"Market Structure, Financial Dependence and Industrial Growth: Evidence from the Banking Industry in Emerging Asian Economies"
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The main criteria by which one can distinguish between different market structures are: the number and size of firms and
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product substitutability a foundation element of market structure analysis to then determine the best course of action.
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1. There are many buyers and sellers in the market, and there is no fixed buying and selling relationship between them.
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by Elmer G. Wiens: Online
Interactive Models of Oligopoly, Differentiated Oligopoly, and Monopolistic Competition
1026:, a case of an oligopoly where two firms operate and have power over the market. Example: Aircraft manufactures:
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Based on the factors that decide the structure of the market, the main forms of market structure are as follows:
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Khan, Habib
Hussain; Ahmad, Rubi Binit; Gee, Chan Sok (2016-08-04). Hernandez Montoya, Alejandro Raul (ed.).
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combined market share of the five largest smart phone sellers in the United states is about 80 percent.
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The imperfectly competitive structure is quite identical to the realistic market conditions where some
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Shapiro, C. (1989). Theories of oligopoly behavior. Handbook of industrial organization, 1, 329–414.
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1040:, a market where many sellers can be present but meet only a few buyers. Example: Cocoa producers
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2. The products or services traded in the market are all the same without any difference.
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1741:. David Besanko (6. ed., internat. student version ed.). Hoboken, NJ: Wiley. 2013.
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been in historical evidence throughout the twentieth century and twenty-first century.
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refers to a type of market where there are many buyers and sellers that feature free
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1511:"Market structure and market definition: the case of small market banks and thrifts"
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Cominetti, Roberto; Correa, José R.; Stier-Moses, Nicolás E. (2009-06-03).
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of new entrants is low; therefore they can price set to their preference.
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Market structure has been a topic of discussion for many economists like
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Or natural obstacles, such as the sole ownership of natural resources,
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Mirman, Leonard J.; Salgueiro, Egas; Santugini, Marc (2015-09-08).
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Mathieu,Philip,Jacques-François, Parenti,Ushchev, Thisse (2017).
1811:
Monopsony in motion : imperfect competition in labor markets
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1923:
Mankiw, N. G. (2020). Principles of economics. Cengage
Learning.
1608:
Mankiw, N. G. (2020). Principles of economics. Cengage
Learning.
1046:, one of the first models of oligopoly markets was developed by
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3. There are no barriers to entry and exit from the market.
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5. Capital resources and labour are easily transferable.
1798:
Armstrong, M. (2008). Price discrimination. MIT Press.
1135:
1640:"The Impact of Oligopolistic Competition in Networks"
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1090:was a monopoly in the diamond industry for years.
27:Differentiation of firms by goods and operations
1786:Industrial Organization, Antitrust, and the Law
1444:Herfindahls index and types of market structure
1857:Body of Knowledge on Infrastructure Regulation
2808:
2141:
2035:"Innovation, Market Structure, and Firm Size"
1871:"Toward a theory of monopolistic competition"
910:
8:
2033:Acs, Zoltan J.; Audretsch, David B. (1987).
1909:: CS1 maint: multiple names: authors list (
1567:"Learning in a Perfectly Competitive Market"
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1842:: CS1 maint: location missing publisher (
1138:Quick Reference to Basic Market Structures
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37:
2009:
1991:
1894:
1663:
1291:Price taker (as there is only one buyer)
1501:
49:
3544:English historical school of economics
3498:Structure–conduct–performance paradigm
2039:The Review of Economics and Statistics
1902:
1835:
1762:
1591:
1580:
1470:Structure-conduct-performance paradigm
1385:have strong foothold in market share.
1342:being traded, and the degree to which
7:
1731:
1729:
1727:
1725:
1181:Uniform price as their price takers
2704:Microfoundations of macroeconomics
1194:Closely related but differentiated
25:
1859:“Market Structure: Introduction.”
1147:Seller Entry & Exit Barriers
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2776:
2765:
2107:
1269:Price rigidity due to price war
1247:Price rigidity due to price war
884:
872:
57:
1364:4. There are no trade secrets.
159:Concepts, theory and techniques
3564:Historical school of economics
1402:Importance of Market Structure
1260:Homogeneous or Differentiated
1216:Differentiated (No Substitute)
1:
1527:10.1016/j.econlet.2004.02.018
1490:Porter's five forces analysis
1304:Homogeneous or Differentiated
1282:Homogeneous or Differentiated
1238:Homogeneous or Differentiated
1103:Features of market structures
3508:Theory of two-level planning
3003:New institutional economists
1993:10.1371/journal.pone.0160452
1044:Cournot quantity competition
2988:Edward Lawrence Wheelwright
2649:Civil engineering economics
2634:Statistical decision theory
2274:Income elasticity of demand
1788:. Cambridge, MA, MIT Press.
1415:Measure of market structure
1334:in the market, the type of
1203:Partial control over price
3616:
3483:Penalty of taking the lead
2284:Price elasticity of supply
2279:Price elasticity of demand
2269:Cross elasticity of demand
1875:Journal of Economic Theory
1054:Bertrand Price Competition
951:
2760:
2098:Resources in your library
1887:10.1016/j.jet.2016.10.005
1784:Franklin, Fisher (1991).
1627:10.1134/S0005117914080141
1371:Monopolistic Competition:
3579:Post-Keynesian economics
3559:French historical school
2831:Institutional economists
2340:Income–consumption curve
1187:Monopolistic competition
1109:monopolistic competitors
1007:Monopolistic competition
147:JEL classification codes
3554:Evolutionary psychology
3418:Conspicuous consumption
2824:Institutional economics
2674:Industrial organization
1485:Competition (economics)
1480:Stackelberg competition
1455:Industrial organization
940:equilibrium quantity.
333:Industrial organization
190:Computational economics
3549:Evolutionary economics
3391:Key concepts and ideas
3347:Donald Angus MacKenzie
2973:George W. Stocking Sr.
2893:John Kenneth Galbraith
1808:Manning, Alan (2003).
1769:: CS1 maint: others (
1656:10.1287/opre.1080.0653
1621:75, 1503–1524 (2014).
1590:Cite journal requires
1509:Andrew, Cohen (2004).
1445:
1324:
1078:, a monopoly in which
185:Experimental economics
35:
3539:Development economics
3448:Hiding hand principle
3438:Effective competition
3309:Economic sociologists
3076:Behavioral economists
2938:Wesley Clair Mitchell
2644:Engineering economics
2239:Cost–benefit analysis
1738:Economics of strategy
1709:Intelligent Economist
1443:
1322:
998:Imperfect Competition
33:
3468:Market concentration
3433:Countervailing power
3239:Sendhil Mullainathan
3066:Oliver E. Williamson
2898:Walton Hale Hamilton
2843:Clarence Edwin Ayres
2461:Price discrimination
2355:Intertemporal choice
2116:at Wikimedia Commons
1619:Autom Remote Control
1351:Perfect competition:
412:Social choice theory
3518:Veblenian dichotomy
3428:Conventional wisdom
3423:Conspicuous leisure
3413:Bounded rationality
3403:Administered prices
3224:Brigitte C. Madrian
3026:Steven N. S. Cheung
2908:Albert O. Hirschman
2903:Orris C. Herfindahl
2772:Business portal
2709:Operations research
2536:Substitution effect
1984:2016PLoSO..1160452K
1644:Operations Research
1165:Perfect Competition
1140:
988:Perfect competition
879:Business portal
200:Operations research
180:National accounting
3534:Cultural economics
3398:Accelerator effect
3214:George Loewenstein
3154:Catherine C. Eckel
2873:John Maurice Clark
2838:Werner Abelshauser
2350:Indifference curve
2318:Goods and services
2259:Economies of scope
2254:Economies of scale
1934:"Market Structure"
1814:. Princeton, N.J.
1475:Business economics
1446:
1325:
1153:Number of sellers
1150:Nature of product
1136:
1080:economies of scale
210:Industrial complex
205:Middle income trap
36:
3587:
3586:
3408:Barriers to entry
3274:Robert J. Shiller
3234:Matteo Motterlini
2978:Lars PĂĄlsson Syll
2790:
2789:
2752:Political economy
2551:Supply and demand
2431:Pareto efficiency
2112:Media related to
2084:Library resources
1821:978-1-4008-5067-9
1748:978-1-118-31918-5
1569:. Rochester, NY.
1515:Economics Letters
1317:
1316:
1156:Number of buyers
1144:Market Structure
992:barriers to entry
927:
926:
16:(Redirected from
3607:
3600:Market structure
3493:Shortage economy
3478:Market structure
3443:Herfindahl index
3367:Laurent Thévenot
3362:Richard Swedberg
3357:Lynette Spillman
3342:Mark Granovetter
3327:James S. Coleman
3299:Georg Weizsäcker
3294:Robert W. Vishny
3259:Klaus M. Schmidt
3209:Jeffrey R. Kling
3104:Douglas Bernheim
2993:Erich Zimmermann
2983:Thorstein Veblen
2963:Herbert A. Simon
2958:François Simiand
2933:Jesse W. Markham
2913:Geoffrey Hodgson
2853:Shimshon Bichler
2817:
2810:
2803:
2794:
2780:
2779:
2770:
2769:
2512:Returns to scale
2370:Market structure
2150:
2143:
2136:
2127:
2114:Market structure
2111:
2089:Market structure
2071:
2070:
2030:
2024:
2023:
2013:
1995:
1963:
1957:
1954:
1948:
1947:
1945:
1944:
1930:
1924:
1921:
1915:
1914:
1908:
1900:
1898:
1866:
1860:
1854:
1848:
1847:
1841:
1833:
1805:
1799:
1796:
1790:
1789:
1781:
1775:
1774:
1768:
1760:
1733:
1720:
1719:
1717:
1716:
1701:
1695:
1692:
1686:
1685:
1667:
1650:(6): 1421–1437.
1635:
1629:
1615:
1609:
1606:
1600:
1599:
1593:
1588:
1586:
1578:
1562:
1556:
1555:
1553:
1552:
1537:
1531:
1530:
1506:
1425:Herfindahl index
1141:
1076:Natural monopoly
1048:Augustin Cournot
930:Market structure
919:
912:
905:
891:Money portal
889:
888:
887:
877:
876:
373:Natural resource
165:Economic systems
61:
38:
21:
3615:
3614:
3610:
3609:
3608:
3606:
3605:
3604:
3590:
3589:
3588:
3583:
3522:
3503:Technostructure
3458:Instrumentalism
3453:Hirschman cycle
3386:
3382:Viviana Zelizer
3352:Joel M. Podolny
3303:
3229:Gary McClelland
3194:Daniel Kahneman
3189:David Ryan Just
3184:Charles A. Holt
3164:Urs Fischbacher
3149:Stephen Duneier
3139:Werner De Bondt
3070:
2997:
2948:Jonathan Nitzan
2888:Robert H. Frank
2878:John R. Commons
2858:Robert A. Brady
2826:
2821:
2791:
2786:
2764:
2756:
2723:
2602:
2244:Deadweight loss
2181:Consumer choice
2159:
2154:
2104:
2103:
2102:
2092:
2091:
2087:
2080:
2075:
2074:
2051:10.2307/1935950
2032:
2031:
2027:
1978:(8): e0160452.
1965:
1964:
1960:
1955:
1951:
1942:
1940:
1932:
1931:
1927:
1922:
1918:
1901:
1868:
1867:
1863:
1855:
1851:
1834:
1822:
1807:
1806:
1802:
1797:
1793:
1783:
1782:
1778:
1761:
1749:
1735:
1734:
1723:
1714:
1712:
1703:
1702:
1698:
1693:
1689:
1637:
1636:
1632:
1616:
1612:
1607:
1603:
1589:
1579:
1564:
1563:
1559:
1550:
1548:
1539:
1538:
1534:
1508:
1507:
1503:
1498:
1451:
1435:
1417:
1404:
1105:
1058:Joseph Bertrand
981:
956:
950:
923:
885:
883:
871:
864:
863:
834:
824:
823:
822:
821:
585:von Böhm-Bawerk
473:
462:
461:
223:
215:
214:
170:Economic growth
160:
152:
151:
93:
91:classifications
28:
23:
22:
15:
12:
11:
5:
3613:
3611:
3603:
3602:
3592:
3591:
3585:
3584:
3582:
3581:
3576:
3574:Microeconomics
3571:
3566:
3561:
3556:
3551:
3546:
3541:
3536:
3530:
3528:
3527:Related fields
3524:
3523:
3521:
3520:
3515:
3510:
3505:
3500:
3495:
3490:
3485:
3480:
3475:
3470:
3465:
3463:Kuznets cycles
3460:
3455:
3450:
3445:
3440:
3435:
3430:
3425:
3420:
3415:
3410:
3405:
3400:
3394:
3392:
3388:
3387:
3385:
3384:
3379:
3377:Harrison White
3374:
3372:Carlo Trigilia
3369:
3364:
3359:
3354:
3349:
3344:
3339:
3334:
3329:
3324:
3319:
3313:
3311:
3305:
3304:
3302:
3301:
3296:
3291:
3286:
3284:Richard Thaler
3281:
3276:
3271:
3266:
3261:
3256:
3254:Howard Rachlin
3251:
3246:
3244:Michael Norton
3241:
3236:
3231:
3226:
3221:
3216:
3211:
3206:
3201:
3196:
3191:
3186:
3181:
3176:
3171:
3169:Herbert Gintis
3166:
3161:
3156:
3151:
3146:
3141:
3136:
3131:
3126:
3124:David Cesarini
3121:
3116:
3111:
3106:
3101:
3096:
3091:
3086:
3084:George Ainslie
3080:
3078:
3072:
3071:
3069:
3068:
3063:
3058:
3053:
3051:Douglass North
3048:
3043:
3038:
3036:Harold Demsetz
3033:
3028:
3023:
3018:
3016:Armen Alchian
3013:
3011:Daron Acemoglu
3007:
3005:
2999:
2998:
2996:
2995:
2990:
2985:
2980:
2975:
2970:
2968:Frank Stilwell
2965:
2960:
2955:
2953:Warren Samuels
2950:
2945:
2940:
2935:
2930:
2925:
2920:
2915:
2910:
2905:
2900:
2895:
2890:
2885:
2883:Richard T. Ely
2880:
2875:
2870:
2865:
2863:Daniel Bromley
2860:
2855:
2850:
2845:
2840:
2834:
2832:
2828:
2827:
2822:
2820:
2819:
2812:
2805:
2797:
2788:
2787:
2785:
2784:
2774:
2761:
2758:
2757:
2755:
2754:
2749:
2747:Macroeconomics
2744:
2743:
2742:
2731:
2729:
2725:
2724:
2722:
2721:
2716:
2711:
2706:
2701:
2696:
2691:
2686:
2681:
2676:
2671:
2666:
2661:
2656:
2651:
2646:
2641:
2636:
2631:
2626:
2621:
2616:
2610:
2608:
2604:
2603:
2601:
2600:
2595:
2594:
2593:
2588:
2578:
2573:
2572:
2571:
2562:
2548:
2543:
2538:
2533:
2524:
2519:
2514:
2509:
2504:
2499:
2494:
2489:
2484:
2483:
2482:
2477:
2468:
2463:
2458:
2453:
2448:
2446:Price controls
2438:
2433:
2428:
2427:
2426:
2421:
2416:
2411:
2410:
2409:
2404:
2394:
2389:
2388:
2387:
2382:
2367:
2365:Market failure
2362:
2357:
2352:
2347:
2342:
2337:
2332:
2331:
2330:
2325:
2315:
2310:
2305:
2300:
2299:
2298:
2288:
2287:
2286:
2281:
2276:
2271:
2261:
2256:
2251:
2246:
2241:
2236:
2235:
2234:
2229:
2224:
2219:
2218:
2217:
2207:
2202:
2192:
2183:
2178:
2173:
2167:
2165:
2161:
2160:
2157:Microeconomics
2155:
2153:
2152:
2145:
2138:
2130:
2124:
2123:
2120:Microeconomics
2117:
2101:
2100:
2094:
2093:
2082:
2081:
2079:
2078:External links
2076:
2073:
2072:
2045:(4): 567–574.
2025:
1958:
1949:
1938:www.westga.edu
1925:
1916:
1861:
1849:
1820:
1800:
1791:
1776:
1747:
1721:
1696:
1687:
1630:
1610:
1601:
1592:|journal=
1557:
1540:Kenton, Will.
1532:
1500:
1499:
1497:
1494:
1493:
1492:
1487:
1482:
1477:
1472:
1467:
1462:
1460:Microeconomics
1457:
1450:
1447:
1429:
1428:
1422:
1416:
1413:
1403:
1400:
1315:
1314:
1311:
1308:
1305:
1302:
1299:
1293:
1292:
1289:
1286:
1283:
1280:
1277:
1271:
1270:
1267:
1264:
1261:
1258:
1255:
1249:
1248:
1245:
1242:
1239:
1236:
1233:
1227:
1226:
1223:
1220:
1217:
1214:
1211:
1205:
1204:
1201:
1198:
1195:
1192:
1189:
1183:
1182:
1179:
1176:
1173:
1170:
1167:
1161:
1160:
1157:
1154:
1151:
1148:
1145:
1104:
1101:
1100:
1099:
1098:
1097:
1091:
1084:
1063:
1062:
1061:
1051:
1041:
1035:
1010:
1004:
1003:
1002:
980:
977:
949:
946:
925:
924:
922:
921:
914:
907:
899:
896:
895:
894:
893:
881:
866:
865:
862:
861:
856:
846:
841:
835:
830:
829:
826:
825:
820:
819:
812:
807:
802:
797:
792:
787:
782:
777:
772:
767:
762:
757:
752:
747:
742:
737:
732:
727:
722:
717:
712:
707:
702:
697:
692:
687:
682:
677:
672:
667:
662:
657:
652:
647:
642:
637:
632:
627:
622:
617:
612:
607:
602:
597:
592:
587:
582:
577:
572:
567:
562:
557:
552:
547:
542:
537:
532:
527:
522:
517:
512:
507:
502:
497:
492:
487:
482:
476:
475:
474:
468:
467:
464:
463:
460:
459:
454:
449:
444:
439:
434:
429:
424:
419:
414:
405:
400:
395:
390:
385:
380:
378:Organizational
375:
370:
365:
360:
355:
350:
345:
340:
335:
330:
325:
320:
315:
310:
305:
300:
295:
290:
285:
280:
275:
270:
265:
260:
255:
250:
245:
240:
235:
230:
224:
222:By application
221:
220:
217:
216:
213:
212:
207:
202:
197:
192:
187:
182:
177:
172:
167:
161:
158:
157:
154:
153:
150:
149:
144:
139:
134:
129:
124:
115:
110:
105:
100:
94:
88:
87:
84:
83:
82:
81:
76:
71:
63:
62:
54:
53:
47:
46:
26:
24:
14:
13:
10:
9:
6:
4:
3:
2:
3612:
3601:
3598:
3597:
3595:
3580:
3577:
3575:
3572:
3570:
3569:Legal realism
3567:
3565:
3562:
3560:
3557:
3555:
3552:
3550:
3547:
3545:
3542:
3540:
3537:
3535:
3532:
3531:
3529:
3525:
3519:
3516:
3514:
3511:
3509:
3506:
3504:
3501:
3499:
3496:
3494:
3491:
3489:
3486:
3484:
3481:
3479:
3476:
3474:
3471:
3469:
3466:
3464:
3461:
3459:
3456:
3454:
3451:
3449:
3446:
3444:
3441:
3439:
3436:
3434:
3431:
3429:
3426:
3424:
3421:
3419:
3416:
3414:
3411:
3409:
3406:
3404:
3401:
3399:
3396:
3395:
3393:
3389:
3383:
3380:
3378:
3375:
3373:
3370:
3368:
3365:
3363:
3360:
3358:
3355:
3353:
3350:
3348:
3345:
3343:
3340:
3338:
3337:Paula England
3335:
3333:
3332:Paul DiMaggio
3330:
3328:
3325:
3323:
3322:Fred L. Block
3320:
3318:
3315:
3314:
3312:
3310:
3306:
3300:
3297:
3295:
3292:
3290:
3287:
3285:
3282:
3280:
3277:
3275:
3272:
3270:
3269:Hersh Shefrin
3267:
3265:
3262:
3260:
3257:
3255:
3252:
3250:
3249:Matthew Rabin
3247:
3245:
3242:
3240:
3237:
3235:
3232:
3230:
3227:
3225:
3222:
3220:
3219:Graham Loomes
3217:
3215:
3212:
3210:
3207:
3205:
3204:George Katona
3202:
3200:
3197:
3195:
3192:
3190:
3187:
3185:
3182:
3180:
3179:David Halpern
3177:
3175:
3172:
3170:
3167:
3165:
3162:
3160:
3157:
3155:
3152:
3150:
3147:
3145:
3142:
3140:
3137:
3135:
3134:Rachel Croson
3132:
3130:
3127:
3125:
3122:
3120:
3119:Colin Camerer
3117:
3115:
3114:Sarah Brosnan
3112:
3110:
3109:Samuel Bowles
3107:
3105:
3102:
3100:
3097:
3095:
3092:
3090:
3087:
3085:
3082:
3081:
3079:
3077:
3073:
3067:
3064:
3062:
3061:Elinor Ostrom
3059:
3057:
3054:
3052:
3049:
3047:
3046:Claude MĂ©nard
3044:
3042:
3039:
3037:
3034:
3032:
3029:
3027:
3024:
3022:
3021:Masahiko Aoki
3019:
3017:
3014:
3012:
3009:
3008:
3006:
3004:
3000:
2994:
2991:
2989:
2986:
2984:
2981:
2979:
2976:
2974:
2971:
2969:
2966:
2964:
2961:
2959:
2956:
2954:
2951:
2949:
2946:
2944:
2943:Gunnar Myrdal
2941:
2939:
2936:
2934:
2931:
2929:
2926:
2924:
2923:Simon Kuznets
2921:
2919:
2916:
2914:
2911:
2909:
2906:
2904:
2901:
2899:
2896:
2894:
2891:
2889:
2886:
2884:
2881:
2879:
2876:
2874:
2871:
2869:
2868:Ha-Joon Chang
2866:
2864:
2861:
2859:
2856:
2854:
2851:
2849:
2846:
2844:
2841:
2839:
2836:
2835:
2833:
2829:
2825:
2818:
2813:
2811:
2806:
2804:
2799:
2798:
2795:
2783:
2775:
2773:
2768:
2763:
2762:
2759:
2753:
2750:
2748:
2745:
2741:
2738:
2737:
2736:
2733:
2732:
2730:
2726:
2720:
2717:
2715:
2712:
2710:
2707:
2705:
2702:
2700:
2697:
2695:
2692:
2690:
2687:
2685:
2682:
2680:
2679:Institutional
2677:
2675:
2672:
2670:
2667:
2665:
2662:
2660:
2657:
2655:
2652:
2650:
2647:
2645:
2642:
2640:
2637:
2635:
2632:
2630:
2627:
2625:
2624:Computational
2622:
2620:
2617:
2615:
2612:
2611:
2609:
2605:
2599:
2596:
2592:
2589:
2587:
2584:
2583:
2582:
2579:
2577:
2574:
2570:
2569:Law of supply
2566:
2563:
2561:
2560:Law of demand
2557:
2554:
2553:
2552:
2549:
2547:
2546:Social choice
2544:
2542:
2539:
2537:
2534:
2532:
2531:Excess supply
2528:
2525:
2523:
2520:
2518:
2517:Risk aversion
2515:
2513:
2510:
2508:
2505:
2503:
2500:
2498:
2495:
2493:
2490:
2488:
2485:
2481:
2478:
2476:
2472:
2469:
2467:
2464:
2462:
2459:
2457:
2454:
2452:
2451:Price ceiling
2449:
2447:
2444:
2443:
2442:
2439:
2437:
2434:
2432:
2429:
2425:
2422:
2420:
2417:
2415:
2412:
2408:
2407:Complementary
2405:
2403:
2400:
2399:
2398:
2395:
2393:
2390:
2386:
2383:
2381:
2378:
2377:
2376:
2373:
2372:
2371:
2368:
2366:
2363:
2361:
2358:
2356:
2353:
2351:
2348:
2346:
2343:
2341:
2338:
2336:
2333:
2329:
2326:
2324:
2321:
2320:
2319:
2316:
2314:
2311:
2309:
2306:
2304:
2301:
2297:
2294:
2293:
2292:
2289:
2285:
2282:
2280:
2277:
2275:
2272:
2270:
2267:
2266:
2265:
2262:
2260:
2257:
2255:
2252:
2250:
2247:
2245:
2242:
2240:
2237:
2233:
2230:
2228:
2225:
2223:
2220:
2216:
2213:
2212:
2211:
2208:
2206:
2203:
2201:
2198:
2197:
2196:
2193:
2191:
2190:non-convexity
2187:
2184:
2182:
2179:
2177:
2174:
2172:
2169:
2168:
2166:
2162:
2158:
2151:
2146:
2144:
2139:
2137:
2132:
2131:
2128:
2121:
2118:
2115:
2110:
2106:
2105:
2099:
2096:
2095:
2090:
2085:
2077:
2068:
2064:
2060:
2056:
2052:
2048:
2044:
2040:
2036:
2029:
2026:
2021:
2017:
2012:
2007:
2003:
1999:
1994:
1989:
1985:
1981:
1977:
1973:
1969:
1962:
1959:
1953:
1950:
1939:
1935:
1929:
1926:
1920:
1917:
1912:
1906:
1897:
1896:2078.1/152387
1892:
1888:
1884:
1880:
1876:
1872:
1865:
1862:
1858:
1853:
1850:
1845:
1839:
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3473:Market power
3317:Jens Beckert
3289:Amos Tversky
3264:Eldar Shafir
3129:Kay-Yut Chen
3056:Mancur Olson
3031:Ronald Coase
2928:Hunter Lewis
2918:János Kornai
2714:Optimization
2699:Mathematical
2659:Experimental
2654:Evolutionary
2639:Econometrics
2497:Public goods
2471:Price system
2466:Price signal
2380:Monopolistic
2369:
2249:Distribution
2164:Major topics
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1937:
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1905:cite journal
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1546:Investopedia
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1106:
1070:Standard Oil
1001:competition.
982:
973:
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928:
849:Publications
814:
437:Sociological
410: /
308:Geographical
288:Evolutionary
263:Digitization
228:Agricultural
132:Mathematical
103:Econometrics
3488:Satisficing
3199:Ariel Kalil
3094:Nava Ashraf
3041:Avner Greif
2848:Joe S. Bain
2664:Game theory
2629:Development
2576:Uncertainty
2456:Price floor
2436:Preferences
2375:Competition
2345:Information
2308:Externality
2291:Equilibrium
2232:Transaction
2210:Opportunity
2171:Aggregation
1542:"Karl Marx"
1344:information
1172:Homogeneous
1113:monopolists
685:von Neumann
338:Information
278:Engineering
258:Development
253:Demographic
195:Game theory
137:Methodology
18:Market form
3174:Uri Gneezy
3159:Armin Falk
3144:Paul Dolan
3089:Dan Ariely
2694:Managerial
2614:Behavioral
2487:Production
2424:Oligopsony
2264:Elasticity
2176:Budget set
1943:2022-05-03
1881:: 86–115.
1715:2020-11-05
1551:2020-11-05
1496:References
1380:Oligopoly:
1297:Oligopsony
1121:duopolists
1038:Oligopsony
1017:price wars
960:Adam Smith
952:See also:
844:Economists
715:Schumacher
620:Schumpeter
590:von Wieser
510:von ThĂĽnen
471:economists
447:Statistics
442:Solidarity
363:Managerial
328:Humanistic
323:Historical
268:Ecological
233:Behavioral
127:Mainstream
34:Adam Smith
3279:Uwe Sunde
3099:Ofer Azar
2735:Economics
2607:Subfields
2502:Rationing
2419:Oligopoly
2414:Monopsony
2402:Bilateral
2335:Household
2186:Convexity
2059:0034-6535
2002:1932-6203
1838:cite book
1830:864138963
1765:cite book
1757:835302276
1705:"Duopoly"
1674:0030-364X
1521:: 77–83.
1465:Economics
1389:Monopoly:
1332:consumers
1323:Karl Marx
1275:Monopsony
1253:Oligopoly
1094:Monopsony
1013:Oligopoly
964:Karl Marx
934:economics
760:Greenspan
725:Samuelson
705:Galbraith
675:Tinbergen
615:von Mises
610:Heckscher
570:Edgeworth
388:Personnel
348:Knowledge
313:Happiness
303:Financial
273:Education
248:Democracy
142:Political
108:Heterodox
51:Economics
3594:Category
2782:Category
2728:See also
2619:Business
2591:Marginal
2586:Expected
2527:Shortage
2522:Scarcity
2397:Monopoly
2303:Exchange
2215:Implicit
2205:Marginal
2020:27490847
1972:PLOS ONE
1682:18608931
1449:See also
1340:services
1209:Monopoly
1088:De beers
1066:Monopoly
853:journals
839:Glossary
790:Stiglitz
755:Rothbard
735:Buchanan
720:Friedman
710:Koopmans
700:Leontief
680:Robinson
565:Marshall
469:Notable
417:Regional
393:Planning
368:Monetary
298:Feminist
243:Cultural
238:Business
43:a series
41:Part of
2740:Applied
2719:Welfare
2581:Utility
2541:Surplus
2480:Pricing
2392:Duopoly
2385:Perfect
2328:Service
2296:General
2200:Average
2067:1935950
2011:4973879
1980:Bibcode
1575:2501419
1231:Duopoly
1024:Duopoly
948:History
859:Schools
851: (
810:Piketty
805:Krugman
670:Kuznets
660:Kalecki
635:Polanyi
525:Cournot
520:Bastiat
505:Ricardo
495:Malthus
485:Quesnay
457:Welfare
427:Service
98:Applied
74:Outline
69:History
2565:Supply
2556:Demand
2492:Profit
2360:Market
2222:Social
2086:about
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1159:Price
1119:, and
1083:firms.
1032:Airbus
1028:Boeing
795:Thaler
775:Ostrom
770:Becker
765:Sowell
745:Baumol
650:Myrdal
645:Sraffa
640:Frisch
630:Knight
625:Keynes
600:Fisher
595:Veblen
580:Pareto
560:Menger
555:George
550:Jevons
545:Walras
535:Gossen
403:Public
398:Policy
353:Labour
318:Health
175:Market
2684:Labor
2669:Green
2441:Price
2323:Goods
2313:Firms
2063:JSTOR
1678:S2CID
1336:goods
1266:Many
1244:Many
1222:Many
1200:Many
1178:Many
979:Types
932:, in
832:Lists
800:Hoppe
785:Lucas
750:Solow
740:Arrow
730:Simon
695:Lange
690:Hicks
665:Röpke
655:Hayek
605:Pigou
575:Clark
490:Smith
452:Urban
432:Socio
422:Rural
122:Macro
118:Micro
79:Index
2598:Wage
2507:Rent
2475:Free
2227:Sunk
2195:Cost
2188:and
2055:ISSN
2016:PMID
1998:ISSN
1911:link
1844:link
1826:OCLC
1816:ISBN
1771:link
1753:OCLC
1743:ISBN
1670:ISSN
1596:help
1571:SSRN
1338:and
1310:Few
1307:Many
1288:One
1285:Many
1197:Many
1175:Many
1030:and
962:and
816:more
540:Marx
530:Mill
515:List
2689:Law
2047:doi
2006:PMC
1988:doi
1891:hdl
1883:doi
1879:167
1660:hdl
1652:doi
1623:doi
1523:doi
1263:Few
1257:Yes
1241:Two
1235:Yes
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780:Sen
500:Say
358:Law
3596::
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