Perfect competition is a theoretical model with many buyers and sellers offering identical products. In this model, firms cannot influence prices and make zero long-term profit due to free entry and ...

As a small-business owner, you're probably an avid reader of financial and economic news. And like many of your colleagues, you probably scratch your head over some of the headlines you read about ...

In micro-economic textbooks, the main factor assumed to affect the quality of a market is the number of sellers. A single seller, termed a monopolist, is the worst because that seller has maximum ...

The Journal of Industrial Economics, Vol. 53, No. 3 (Sep., 2005), pp. 393-416 (24 pages) In many industries, a regulator designs an auction to select ex-ante the firms that compete ex-post on the ...

It doesn’t matter what country you are in, regulators always seem to be reworking rules to make their markets better. The problem is that, often, different market objectives (and their solutions) ...

In his book Marktform und Gleichgewicht, published initially in 1934, Heinrich von Stackelberg presented his groundbreaking leadership model of sequential competition. In a work of great originality ...

There are varying types of market structures in industries. The type of market structure of a company in a particular industry influences the way the company conducts business and how pricing ...