On Fri, 17 Dec 2010, Anders Ekeland wrote:
> I do not think there is a real-life example [of perfect
> competition], but let me quote from Samuelson and Nordhaus
> text-book, 2010:
>
> "... What is meant by perfect competition? It is a technical
> term that refers to a market in which no firm or consumer is
> large enough to affect the market price. For example, the wheat
> market is perfectly competitive because the largest wheat farm,
> producing only a minuscule fraction of the world's wheat, can
> have no appreciable effect upon the price of wheat." (p. 35)
There is a somewhat dated but workman-like and empirically
informed analysis of the wheat market at
http://ageconsearch.umn.edu/bitstream/23326/1/aer212.pdf
Allin Cottrell
_______________________________________________
ope mailing list
ope@lists.csuchico.edu
https://lists.csuchico.edu/mailman/listinfo/ope
Received on Thu Dec 16 20:13:32 2010
This archive was generated by hypermail 2.1.8 : Fri Dec 31 2010 - 00:00:02 EST