Perfect Competition and the Creativity of the Market

摘要

The complete theory of competition cannot be known because it is an open - ended theory: it is always possible that a new range of problems will be posed in this framework, and then , no matter how well - developed the theory was with respect to the earlier range of problems, it may require extensive elaboration in respects which previously it had glossed over or ignored. (George Stigler 1957, p. 14).