Competitive Profits in the Long Run

DOI10.2307/2297929MaRDI QIDQ3989001zbMATH OpenOpenAlexFDO

Authors Val Eugene Lambson

Publication date 28 June 1992

Published in Review of Economic Studies (Search for Journal in Brave)

Full work available at URL https://doi.org/10.2307/2297929

zbMATH Keywords

dynamic model of perfect competitionlong-run average profit rates

Mathematics Subject Classification ID

Production theory, theory of the firm (91B38) Economic growth models (91B62)

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• Consumer inertia, firm growth and industry dynamics.
• Profit maximization mitigates competition
• Production externalities and investment caps: a welfare analysis under uncertainty
• Random walks and sustained competitive advantage
• Land conversion pace under uncertainty and irreversibility: too fast or too slow?
• An analytical foundation of the classical view of long-period prices with differential profit rates
• Inflating profits and industry competitiveness
• Persistence of profitability and competition in emerging markets
• Externality control and endogenous market structure under uncertainty: the price vs. quantity dilemma

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