The paper tries to develop Sraffa's argument, expressed in his famous 1926 article on "The laws of returns under competitive conditions". according to which imperfect firms face demand rather than cost constraints in their attempt expand their output. The paer then develops a reformulation of Sraffa's theory of prices within imperfect competition, showing that in such a context the intra-capitalists distribution of the surplus play a major role in determining relative prices.
Sraffa 1926 and Sraffa 1960: An Attempt to Bridge the Gap
NISTICO', Sergio
2008-01-01
Abstract
The paper tries to develop Sraffa's argument, expressed in his famous 1926 article on "The laws of returns under competitive conditions". according to which imperfect firms face demand rather than cost constraints in their attempt expand their output. The paer then develops a reformulation of Sraffa's theory of prices within imperfect competition, showing that in such a context the intra-capitalists distribution of the surplus play a major role in determining relative prices.File in questo prodotto:
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