Corpus ID: 54052430

A Short Critique Of Perfect Competition Model From The Perspective Of Austrian School Of Economics

@article{Stamate2011ASC,
  title={A Short Critique Of Perfect Competition Model From The Perspective Of Austrian School Of Economics},
  author={Andreas Stamate and R. Mușetescu},
  journal={Romanian Economic and Business Review},
  year={2011},
  volume={6},
  pages={112-121}
}
The perfect competition model is not the only model which we can use in analyzing the markets.Although it is quite clear that competition laws are based on it, there are not sufficient reasons to confirm its suitability for this enterprise. We raise the question of realism implied in concepts like ‘homogeneous products’ and ‘numerous participants’, and then we try to portrait the world as it is stated in the perfect neoclassical model. The discussion has powerful insights given by the Austrian… Expand
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