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Louvain Institute of Data Analysis and Modeling in economics and statistics

Center for Operations Research and Econometrics

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Louvain Institute of Data Analysis and Modeling in economics and statistics

Center for Operations Research and Econometrics

CORE DP 2026 / 02

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14 January 2026, modified on 27 April 2026


Perfect competition and increasing returns A partial equilibrium analysis / Pierre Dehez, Jacques Drèze 

> The purpose of the present paper is to challenge the standard textbook analysis of perfect competition based on profit maximisation and the associated "price equal marginal cost" rule leading to an increasing market supply curve.