Highlights the theory of competition advanced by da Empoli in the late 1920s. The main point is the existence of discontinuities in industrial concerns. This leads to the possibility that prices exceed marginal costs and depend also on ultramarginal costs, a new concept elaborated by da Empoli. They are costs that are incurred when the firm is producing beyond the marginal production. Also reviews the various implications of this approach. Stresses the innovative character of his approach and evaluates this in relation to contemporary and successive literature.

DI MATTEO, M., Luini, L. (2001). Ultramarginal Cost in da Empoli’s Work: Towards a General Approach to the Theory of Competition. JOURNAL OF ECONOMIC STUDIES, 28(4/5), 254-264 [10.1108/EUM0000000005942].

Ultramarginal Cost in da Empoli’s Work: Towards a General Approach to the Theory of Competition

DI MATTEO, MASSIMO;LUINI, LUIGI
2001-01-01

Abstract

Highlights the theory of competition advanced by da Empoli in the late 1920s. The main point is the existence of discontinuities in industrial concerns. This leads to the possibility that prices exceed marginal costs and depend also on ultramarginal costs, a new concept elaborated by da Empoli. They are costs that are incurred when the firm is producing beyond the marginal production. Also reviews the various implications of this approach. Stresses the innovative character of his approach and evaluates this in relation to contemporary and successive literature.
2001
DI MATTEO, M., Luini, L. (2001). Ultramarginal Cost in da Empoli’s Work: Towards a General Approach to the Theory of Competition. JOURNAL OF ECONOMIC STUDIES, 28(4/5), 254-264 [10.1108/EUM0000000005942].
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11365/34159
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