3 ms·
My econ classes always started by repeating the mantra "Markets aren't perfect and information doesn't move perfectly, but if it did..." And for the rest of the
by stephengillie 9y ago
My econ classes always started by repeating the mantra "Markets aren't perfect and information doesn't move perfectly, but if it did..." And for the rest of the hour we'd pretend that markets are perfect and information flows like free beer.
Too much time is spent being confused about how oligopolies form to consider that these are never identical market players, and the balance of production inequalities between these competitors may itself define the oligopoly.
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