General Equilibrium with Price-Making Firms
Selten, R. / Marschak, T.![General Equilibrium with Price-Making Firms](https://support.digitalhusky.com/media/annotations/sorted/133/13394761/CHSBZCOP0313394761.jpg)
Motivation. That elegant fiction the competitive equilibrium seems still to dominate the frontiers of theoretical microeconomics. We may think of it in a general way as a state of affairs wherein economic agents, responding "rationally" to annoWlced prices, make choices which are consistent and feasible. The prices may also be described as "taken": for one reason or another the agents who respond to them consider them as given. The existence o...