Competition, Monopoly, and Differential Profit Rates

On the Relevance of the Classical and Marxian Theories of Production Prices for Modern Industrial and Corporate Pricing

Willi Semmler

• Publisher: Columbia University Press
• Year: 2019
• ISBN:
  9780231880084
• Edition: 1
• Topic: Economics
• Subtopic: Economic Theory
• Index: Economics

Presents a framework for the interpretation of the empirical phenomena of modern industrial and corporate pricing and profits through a reinterpretation of classical and Marxian theories and concepts of long-run prices and profits. Also discusses how modern empirical findings can be reconciled with the classical and Marxian theories of competition, production prices, and average profit rates.

Table of contents

• Contents
• Preface and Acknowledgments
• Symbols
• Part 1 . On Theories of Competition and Their Empirical Predictions
• Chapter 1. Introduction and Overview
• Chapter 2. On Theories of Competition
• Part 2. Empirical Evidence on Industrial and Corporate Pricing and Differential Profit Rates
• Chapter 3. Empirical Evidence on Industrial and Corporate Pricing
• Chapter 4. Empirical Evidence on Differential Profit Rates for Industries and Firms
• Part 3. Empirical Studies and the Classical and Marxian Theories
• Chapter 5. Production Prices, Single-Product Industries, and Industrial Pricing
• Chapter 6. Production Prices, Joint Production, and Corporate Pricing
• Chapter 7. Market Power and Corporate Power—Some Conclusions
• Appendixes
• Appendix 1. Technical Change and Change in Values
• Appendix 2. Technical Change and Change in Production Prices
• Appendix 3. Joint Production, Uniform Profit Rate, Prices, and Nonsubstitution
• Appendix 4. Joint Production, Differential Profit Rates, and Prices
• Appendix 5. The Law of Supply and Demand: The Existence and Stability of a General Equilibrium
• References
• Index