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 publiéDate
2001Journal name
Journal of Economic StudiesVolume
28Number
4/5Publisher
Emerald
Pages
305 - 323
Publication identifier
Metadata
Show full item recordAbstract (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; HistoryRelated items
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