The internal consistency of perfect competition
The internal consistency of perfect competition
Author(s): Stephan Pühringer, Jakob KapellerSubject(s): Philosophy, Social Sciences, Economy, Special Branches of Philosophy, Sociology, Philosophy of Science, Social Theory, Socio-Economic Research
Published by: Editura Rosetti International
Keywords: perfect competition; mainstream economics; theory of the firm; conflicting assumptions;
Summary/Abstract: This article surveys some arguments brought forward in defense of the theory of perfect competition. While some critics propose that the theory of perfect competition, and thus also the theory of the firm, are logically flawed, (mainstream) economists defend their most popular textbook model by a series of apparently different arguments. Here it is examined whether these arguments are comparable, consistent and convincing from the point of view of philosophy of science.
Journal: Journal of Philosophical Economics
- Issue Year: III/2010
- Issue No: 2
- Page Range: 134-152
- Page Count: 19
- Language: English