perfect competition

M. Ali Khan
From The New Palgrave Dictionary of Economics, Second Edition, 2008
Edited by Steven N. Durlauf and Lawrence E. Blume
Alternate versions available: 1987 Edition
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Abstract

This article attempts a critical appraisal of the literature on perfect competition as it has evolved since the work of Debreu–Scarf and Aumann in the 1960s, following papers of Debreu–Scarf and Aumann. It focuses on mathematical techniques that have been garnered to cope with the presuppositions of the classical theory relating to finitude, convexity and agent-independence.
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How to cite this article

Khan, M. Ali. "perfect competition." The New Palgrave Dictionary of Economics. Second Edition. Eds. Steven N. Durlauf and Lawrence E. Blume. Palgrave Macmillan, 2008. The New Palgrave Dictionary of Economics Online. Palgrave Macmillan. 19 December 2014 <http://www.dictionaryofeconomics.com/article?id=pde2008_P000056> doi:10.1057/9780230226203.1267

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