Kurt Rothschild's heterodox approach to price theory and oligopoly

Harry Benjamin Bloch, Madhumita Bhattacharya

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The seminal article by Kurt Rothschild on the state of imperfect competition analysis, Price theory and oligopoly , published in the Economic Journal in 1947 is used as an exemplar of the merits of a heterodox approach to economics. We identify key elements of Rothschild s analysis and relate them to later analytical developments in pricing strategies, entry barriers, internal organisation and the use of power by firms. Further, we note lacunae that remain in the modem analysis of oligopoly and price theory that can be addressed by adopting ideas proposed by Rothschild in his 1947 article and in his later writings.
Original languageEnglish
Pages (from-to)1 - 14
Number of pages14
JournalHistory of Economics Review
Publication statusPublished - 2014

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