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Attilio da Empoli’s contribution to monopolistic competition theory

Keppler, Jan-Horst (2001), Attilio da Empoli’s contribution to monopolistic competition theory, Journal of Economic Studies, 28, 4/5, p. 305 - 323. http://dx.doi.org/10.1108/EUM0000000005946

Type
Article accepté pour publication ou publié
Date
2001
Journal name
Journal of Economic Studies
Volume
28
Number
4/5
Publisher
Emerald
Pages
305 - 323
Publication identifier
http://dx.doi.org/10.1108/EUM0000000005946
Metadata
Show full item record
Author(s)
Keppler, Jan-Horst
Abstract (EN)
Considers the contribution of Attilio da Empoli to the theory of value and distribution and especially his contribution to the theory of monopolistic competition. During the 1920s a lively discussion developed about the link between the cost structure of the individual firm and the degree of competition in the wake of the demise of the Marshallian concept of the “representative firm”. In this context, Attilio da Empoli contributed two monographs with the declared intent to provide a new theory of value. While falling short of this ambitious objective, shows that Attilio da Empoli formulated a number of original insights that were fully developed only many years later. The two most important of these concern the contestability of markets (“external competition”) and the inadequacy of the Cournot solution for spatially differentiated firms that compete with otherwise identical products.
Subjects / Keywords
Monopolies; Competition; Theory; Value; Economics; History
JEL
L41 - Monopolization; Horizontal Anticompetitive Practices
B31 - Individuals

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