|
|
Imperfect competition |
|
|
|
 Home Site Map Add Term Search About Us Contributors |
Imperfect competitionAny departure from perfect competition. However, imperfect competition usually refers to one of the market structures other than perfect competition.Similar MatchesCournot competitionCournot competitionThe assumption, assumed to be made by firms in an oligopoly, that other firms hold their outputs constant as they themselves change behavior. Contrasts with Bertrand competition. Both are used in models of international oligopoly, but Cournot competition is used more often. Perfect competitionPerfect competitionAn idealized market environment in which every market participant is too small to affect the market price by acting on its own. CompetitionCompetitionIntra- or intermarket rivalry between or among businesses trying to obtain a larger piece of the same market share. In competitionIn competitionIndication that the customer has revealed trading interest to multiple brokers and that the trade will take place with the firm having the highest bid or lowest offer. Antithesis of exclusive. CompetitionCompetitionThe interactions between two or more sellers or buyers in a single market, each attempting to get or pay the most favorable price. Economists usually interpret and model these interactions as among individual economic agents -- firms or consumers. Popular terminology extends also to competition among nations, especially competing exporters. Further SuggestionsCompetition aheadBertrand competition Competition policy Perfect competition Monopolistic competition |
|
|
|