Attilio da Empoli's contribution to monopolistic competition theory

Considers the contribution of Attilio da Empoli to the theory of value and distribution and especially his contribution to the theory of monopolistic competition. During the 1920s a lively discussion developed about the link between the cost structure of the individual firm and the degree of competi...

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Bibliographic Details
Published in:Journal of economic studies (Bradford) 2001, Vol.28 (4/5), p.305-323
Main Author: Horst Keppler, Jan
Format: Article
Language:English
Subjects:
Competition
Corporatism
de Empoli, Attilio
Economic research
Economic theory
Economics
Economists
Empoli, Attilio da
Fascism
History
Market equilibrium
Market theory
Monopolies
Monopolistic competition
Product differentiation
Profits
Realism
Theory
Value
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Summary:Considers the contribution of Attilio da Empoli to the theory of value and distribution and especially his contribution to the theory of monopolistic competition. During the 1920s a lively discussion developed about the link between the cost structure of the individual firm and the degree of competition in the wake of the demise of the Marshallian concept of the "representative firm". In this context, Attilio da Empoli contributed two monographs with the declared intent to provide a new theory of value. While falling short of this ambitious objective, shows that Attilio da Empoli formulated a number of original insights that were fully developed only many years later. The two most important of these concern the contestability of markets ("external competition") and the inadequacy of the Cournot solution for spatially differentiated firms that compete with otherwise identical products.
ISSN:0144-3585
1758-7387
DOI:10.1108/EUM0000000005946