ROBINSON (Joan).
What is Perfect Competition?
Inscribed by Joan Robinson ‘With the authors compliments’ in black ink to the front wrapper.
The first separate appearance of this article in which Robinson sought to define perfect competition solely in terms of demand, as ‘a situation in which a single seller cannot influence price’ and to undermine and dismiss the traditional idea of perfect competition as ‘a situation in which a single seller cannot make more than normal profits’ associated with the free movement of resources (p. 104).
See: Hayes, ‘Keynes’s degree of competition’, European Journal of the History of Economic Thought.
