Market Structure and Equilibrium (eBook)

About the Translators 8
Comments On The Translation 10
Translators´ Commentary 12
Contents 14
Chapter 1: Stating the Economic Problem and Basic Principles 16
§ 1. Stating the Economic Problem 16
§ 2. Systems of Market Structures 17
§ 3. Elements of the Economic Model 18
§ 4. Basic Principles of the Free Market Capitalist Economy 20
§ 5. The Classical General Equilibrium Model 20
§ 6. The General Notion of Individual Equilibrium in a Market 23
Chapter 2: General Analysis of Typical Market Structures 26
§ 1. Methods 26
§ 2. Classical Equilibrium by Free Competition 27
§ 3. Monopsony and Monopoly 28
§ 4. Oligopolistic Supply and Demand 30
§ 5. Bilateral Monopoly 37
§ 6. Bilateral Oligopoly, Reduced Monopsony, Reduced Monopoly 40
Chapter 3: Analysis of the Relationship Between Dual Markets and Multiple Markets 42
§ 1. System of Relationships Between Two Markets 42
§ 2. Two Monopsonies with Tied Supply (Type I) 45
§ 3. Two Monopolies with Tied Demand (Type II) 49
§ 4. The Intermediary Bilateral Monopoly (Type III) 51
§ 5. Market Equilibrium and Equilibrium 52
Chapter 4: Dyopolistic Market Share Ranking 55
§ 1. General Analysis 55
§ 2. The Simple Dyopoly 62
I. The Demand Dyopoly 62
II. The Supply Dyopoly 62
§ 3. The Supply Relationship Between Two Monopsonies 63
I. Alternative Products 63
II. Complementary Products 65
§ 4. The Demand Relationship Between Two Monopolies 67
I. Rival Goods 67
II. Complementary Goods 68
§ 5. The Intermediary Bilateral Monopoly 68
§ 6. A Numerical Example 69
Chapter 5: Landmark History of Economic Thought 75
§ 1. First Attempt to Solve the Problem of Dyopoly 75
I. August Cournot 1838 75
II. Joseph Bertrand 1883 76
III. Francis Isidro Edgeworth 1897 78
IV. Vilfredo Pareto 1909 80
§ 2. Development of Dyopoly Theory 82
I. The Bertrand-Edgeworth School 82
II. The Lausanne School 83
III. The Rebirth of Cournot´s Theory 84
IV. The Term, ``The Position of Independence´´ 87
V. The Eclectic School 89
§ 3. Overview of the Development of Bilateral Monopoly Theory 94
Chapter 6: Market Structure and Economic Policy 98
§ 1. The Significance of the Unstable Market in the Real Economy 98
§ 2. Safeguarding the Equilibrium as a Function of Economic Policy 101
§ 3. The Theoretical Model of Fascist Corporative Markets 105
Mathematical Appendix 108
I. The General Structure of the Individual Equilibrium in a Market. (First chap., § 6.) 108
II. The Classical General Equilibrium in a Market with Free Competition. (Second Chap., § 2.) 110
III. The Monopoly. (Second Chap., § 3.) 113
IV. The Oligopoly. (Second Chap., § 4.) 114
V. The Bilateral Monopoly. (Second Chap., § 5.) 117
VI. Preliminary Remarks for the Third Chapter. 121
VII. Two Monopsonies with Tied Supply. (Third Chap., § 2.) 124
VIII. The Intermediary Bilateral Monopoly. (Third Chap., § 4.) 129
IX. The Dyopoly. (Numerical Example.) 131
X. The Demand Relationship Between Monopolies. (Algebraic Example) 135
XI. Additional Item. 142
R.F. Harrod´s attempt at a solution 142
Index 146