Abstract
M. L. Greenhut has been claiming for many years now that economic space inherently involves oligopolistic relationships among firms. In turn, he has maintained that contrary to conventional economic thought, oligopolistic competition can yield a long-run equilibrium that is unique, want-satisfying, and efficiently stable; in fact, he claims it contains features isomorphic to those of perfect competition. This is a surprising argument which has to this time drawn insufficient attention from the professional circle.
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© 1993 Hiroshi Ohta and Jacques-François Thisse
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Greenhut, J.G., Ohta, H. (1993). On Efficiency of Spatial Oligopoly. In: Ohta, H., Thisse, JF. (eds) Does Economic Space Matter?. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-22906-2_21
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DOI: https://doi.org/10.1007/978-1-349-22906-2_21
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