The efficient markets paradox: theoretical contributions of Steven C. Salop

Detalhes bibliográficos
Autor(a) principal: Vargas, Juliano
Data de Publicação: 2022
Tipo de documento: Artigo
Idioma: por
Título da fonte: Economia Ensaios
Texto Completo: https://seer.ufu.br/index.php/revistaeconomiaensaios/article/view/57801
Resumo: The purpose of this paper is to analyze Salop’s (1976) seminal proposal, in which the relevant market structure with imperfect information is not the one with perfect competition, but the one with monopolistic competition, with price dispersion. From the presentation of the perfect competition model, monopolistic competition model, Salop’s model and the main theoretical elements of this debate, alternative analyses based on studies of Akerlof and Grossman & Stiglitz are presented. In this regard, it will be shown that the results proposed by Salop, although considering the quality constant, are incompatible with the assumptions of neoclassical economics.
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spelling The efficient markets paradox: theoretical contributions of Steven C. SalopThe efficient markets paradox: theoretical contributions of Steven C. SalopThe purpose of this paper is to analyze Salop’s (1976) seminal proposal, in which the relevant market structure with imperfect information is not the one with perfect competition, but the one with monopolistic competition, with price dispersion. From the presentation of the perfect competition model, monopolistic competition model, Salop’s model and the main theoretical elements of this debate, alternative analyses based on studies of Akerlof and Grossman & Stiglitz are presented. In this regard, it will be shown that the results proposed by Salop, although considering the quality constant, are incompatible with the assumptions of neoclassical economics.Este artículo analiza la propuesta seminal de Salop (1976), según la cual la estructura de mercado relevante con información imperfecta no es la de competencia perfecta, sino la de competencia monopolística, con dispersión de precios. A partir de la exposición de los modelos de competencia perfecta, competencia monopolística y el modelo propuesto por Salop, además de los principales elementos teóricos de este debate, se presentan análisis alternativos basados ​​en los estudios de Akerlof y Grossman y Stiglitz. Al respecto, se demostrará que los resultados propuestos por Salop, a pesar de considerar la calidad constante, son incompatibles con los supuestos de la economía neoclásica.EDUFU2022-04-20info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://seer.ufu.br/index.php/revistaeconomiaensaios/article/view/5780110.14393/REE-v37n1a2022-57801Revista Economia Ensaios; Vol. 37 No. 1 (2022)Revista Economia Ensaios; v. 37 n. 1 (2022)1983-19940102-2482reponame:Economia Ensaiosinstname:Universidade Federal de Uberlândia (UFU)instacron:UFUporhttps://seer.ufu.br/index.php/revistaeconomiaensaios/article/view/57801/33812Copyright (c) 2022 Revista Economia Ensaiosinfo:eu-repo/semantics/openAccessVargas, Juliano2022-08-09T20:01:18Zoai:ojs.www.seer.ufu.br:article/57801Revistahttps://seer.ufu.br/index.php/revistaeconomiaensaiosPUBhttps://seer.ufu.br/index.php/revistaeconomiaensaios/oai||ecoensaios@ufu.br|| ecoensaios@ufu.br1983-19940102-2482opendoar:2022-08-09T20:01:18Economia Ensaios - Universidade Federal de Uberlândia (UFU)false
dc.title.none.fl_str_mv The efficient markets paradox: theoretical contributions of Steven C. Salop
The efficient markets paradox: theoretical contributions of Steven C. Salop
title The efficient markets paradox: theoretical contributions of Steven C. Salop
spellingShingle The efficient markets paradox: theoretical contributions of Steven C. Salop
Vargas, Juliano
title_short The efficient markets paradox: theoretical contributions of Steven C. Salop
title_full The efficient markets paradox: theoretical contributions of Steven C. Salop
title_fullStr The efficient markets paradox: theoretical contributions of Steven C. Salop
title_full_unstemmed The efficient markets paradox: theoretical contributions of Steven C. Salop
title_sort The efficient markets paradox: theoretical contributions of Steven C. Salop
author Vargas, Juliano
author_facet Vargas, Juliano
author_role author
dc.contributor.author.fl_str_mv Vargas, Juliano
description The purpose of this paper is to analyze Salop’s (1976) seminal proposal, in which the relevant market structure with imperfect information is not the one with perfect competition, but the one with monopolistic competition, with price dispersion. From the presentation of the perfect competition model, monopolistic competition model, Salop’s model and the main theoretical elements of this debate, alternative analyses based on studies of Akerlof and Grossman & Stiglitz are presented. In this regard, it will be shown that the results proposed by Salop, although considering the quality constant, are incompatible with the assumptions of neoclassical economics.
publishDate 2022
dc.date.none.fl_str_mv 2022-04-20
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://seer.ufu.br/index.php/revistaeconomiaensaios/article/view/57801
10.14393/REE-v37n1a2022-57801
url https://seer.ufu.br/index.php/revistaeconomiaensaios/article/view/57801
identifier_str_mv 10.14393/REE-v37n1a2022-57801
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv https://seer.ufu.br/index.php/revistaeconomiaensaios/article/view/57801/33812
dc.rights.driver.fl_str_mv Copyright (c) 2022 Revista Economia Ensaios
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 2022 Revista Economia Ensaios
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv EDUFU
publisher.none.fl_str_mv EDUFU
dc.source.none.fl_str_mv Revista Economia Ensaios; Vol. 37 No. 1 (2022)
Revista Economia Ensaios; v. 37 n. 1 (2022)
1983-1994
0102-2482
reponame:Economia Ensaios
instname:Universidade Federal de Uberlândia (UFU)
instacron:UFU
instname_str Universidade Federal de Uberlândia (UFU)
instacron_str UFU
institution UFU
reponame_str Economia Ensaios
collection Economia Ensaios
repository.name.fl_str_mv Economia Ensaios - Universidade Federal de Uberlândia (UFU)
repository.mail.fl_str_mv ||ecoensaios@ufu.br|| ecoensaios@ufu.br
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