Perfect Competition and the Creativity of the Market
从瓦尔拉斯一般均衡模型出发，重新审视完全竞争的含义，将完美竞争者描绘为积极的市场机会主义者，从而让模型能够容纳创新和激励等当代议题。
From the perspective of the Walrasian general equilibrium model, entrepreneurial and opportunistic behavior seems foreign. Can the model be refashioned so that it can accommodate such behavior? Many would say no, but we argue the contrary. Indeed, we present a reformulation of the model that serves as a gateway to, rather than a detour from, such contemporary issues as innovation and incentives. The trick is to reexamine what perfect competition means. Starting with an historical summary of general equilibrium, we sketch an image of the perfect competitor as an active market opportunist, seeking out profit potentials wherever he can.