Imperfect competition and decentralized
โ
Peter Wiles
๐
Article
๐
1964
๐
Springer US
๐
English
โ 760 KB
This article contrasts two myths: perfect competition throughout a whole economy x and "perfect computation"-a computation so detailed and quick that it would achieve the same allocation of resources. It maintains that the former is in some respects as centralized as the latter, and that decentraliz