Abstract
The usual analyses of the origins of the theory of imperfect competition have tended to link the writings by Chamberlain and Robinson to the increasing returns controversy, and particularly Sraffa's paper in 1926. Moreover, other possible sources which have been occasionally mentioned in these studies include the writings of A. C. Pigou, the development of mathematics as a tool of economic theory, and the general economic environment. But these views are shown to be myopic. In this paper, it is found that A. C. Pigou was the seminal figure in the development of the theory of imperfect competition and actually came close to developing his own theory to handle the market structures between perfect completion and monopoly. Thus, while the increasing returns controversy contributed, in part, to the emergence of the theory, A. C. Pigou should be considered the most important contributor to the development of the theory of imperfect competition. Moreover, it is also found that there were at least two other theories of imperfect competition which had been proposed prior to 1930. One rather naive theory was from the writings of the mathematicians, Cournot, Edgeworth, Evans, and Roos. The second, and more sophisticated, theory was contained in the writings of the Continental economists, Cournot, Dupuit, and Zeuthen. Therefore, although the texts by Robinson and Chamberlain were important contributions to the theory of imperfect competition, Robinson and Chamberlain should not be considered the sole originators of the theory.
Moser, Ernest Richard (1973). The origins of the theory of imperfect competition. Doctoral dissertation, Texas A&M University. Texas A&M University. Libraries. Available electronically from
https : / /hdl .handle .net /1969 .1 /DISSERTATIONS -157514.