The Monopolistic Competition Revolution in Retrospect

doi:10.1017/CBO9780511492273

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Chang, Winston W. 2011. Monopolistic Competition and Product Diversity: Review and Extension. SSRN Electronic Journal,

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Kurz, Mordecai 2017. On the Formation of Capital and Wealth. SSRN Electronic Journal ,

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Lianos, Gerasimos Sloev, Igor and Houjeir, Roudaina 2023. Research on Islamic Business Concepts. p. 237.

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Cherrier, Béatrice 2023. The Price of Virtue: Some Hypotheses on How Tractability Has Shaped Economic Models. OEconomia, p. 23.

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Edited by Steven Brakman, Rijksuniversiteit Groningen, The Netherlands, Ben J. Heijdra, Rijksuniversiteit Groningen, The Netherlands

Publisher:: Cambridge University Press
Online publication date:: September 2009
Print publication year:: 2001
Online ISBN:: 9780511492273
DOI:: https://doi.org/10.1017/CBO9780511492273

Subjects:: Economics, International Economics, Economic Theory

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In 1977 a seminal paper was published by Avinash Dixit and Joseph Stiglitz that revolutionized the modeling of imperfectly competitive markets. It launched what might be called the second monopolistic competition revolution, which has been far more successful than the first one, initiated by Edward Chamberlin and Joan Robinson in the 1930s. In this 2003 collection of essays experts in the fields of macroeconomics, international trade theory, economic geography, and international growth theory address the question of why the second revolution was so successful. They also highlight what is missing, and look forward to the next step in the modeling of imperfectly competitive markets. The text includes a comprehensive survey of both monopolistic competition revolutions, and previously unpublished working papers by Dixit and Stiglitz that led to their famous 1977 paper. With contributions from Dixit, Ethier, Neary and Stiglitz amongst others, this collection will excite interest amongst researchers, advanced students and economists.

Review of the hardback:‘… an important book that should be read by all research economists and that will be of particular interest to those concerned with international trade. … One cannot help being inspired by this volume.‘

Source: Journal of International Economics

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The Monopolistic Competition Revolution in Retrospect

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