The efficient markets paradox: theoretical contributions of Steven C. Salop
Autor(a) principal: | |
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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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Economia Ensaios |
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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 |
_version_ |
1799944251552825344 |