a study in the working of the competitive economy /
G.B. Richardson.
2nd ed. /
with a new foreword by David J. Teece, a new introduction, and two new chapters.
Oxford :
Clarendon,
1997.
1 online resource (xxvi, 264 pages) :
illustrations
Includes bibliographical references and index.
Foreword to the Second Edition; Contents; Introduction; Part I. THE THEORY OF PERFECT COMPETITION; Chapter I. The Tendency to Equilibrium; Chapter II. The Availability of Market Information; Part II. INFORMATION AND ADJUSTMENT; Chapter III. The Co-ordination of Competitive Investments; Chapter IV. The Co-ordination of Complementary Investments; Chapter V. The Scale of Investments; Chapter VI. The Assortment of Production; Chapter VII. Competition, Selection and Market Discipline; Part III. THE INFLUENCE OF UNCERTAINTY; Chapter VIII. The Need for Adaptability
Chapter IX. Attitudes towards RiskChapter X. Risk and Welfare: I. Private and Social Profitability; Chapter XI. Risk and Welfare: II. Consolidation and Public Ownership; Annex I. The Organization of Industry; Annex II. Planning versus Competition; Index; A; B; C; D; E; F; G; H; I; J; K; L; M; N; O; P; Q; R; S; T; U; V; W; Y
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Firms base their investment decisions on expectations, which in turn are based on information about relevant future circumstances. The availability of this information depends partly on the market structure within which firms operate.