Stability in Competition

  • Harold Hotelling


After the work of the late Professor F. Y. Edgeworth one may doubt that anything further can be said on the theory of competition among a small number of entrepreneurs. However, one important feature of actual business seems until recently to have escaped scrutiny. This is the fact that of all the purchasers of a commodity, some buy from one seller, some from another, in spite of moderate differences of price. If the purveyor of an article gradually increases his price while his rivals keep theirs fixed, the diminution in volume of his sales will in general take place continuously rather than in the abrupt way which has tacitly been assumed.


Transportation Cost Maximum Profit Competitive Situation Actual Business Mineral Spring 
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Copyright information

© Springer-Verlag New York Inc. 1990

Authors and Affiliations

  • Harold Hotelling
    • 1
  1. 1.Stanford UniversityUSA

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