Towards the Economics of Imperfect Competition / Takanori Adachi

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"The Market Power Index Approach" is an analytical framework based on imperfect competition that accurately captures the historical and socio-economic meaning of "competition". It is persuasive that the analysis can be developed by going beyond the conventional framework of economics based on perfect competition and including perfect competition and monopoly as special cases of both extremes of imperfect competition. It presents a new theoretical perspective in economics called "Market Power Index Approach".