The presumption that most market individuals are always completely conscious of market opportunities by which they could be interested is oftentimes presented, in conventional textbook expositions, included in the presumption of alleged “perfect competition.”
The presumption that most market individuals are always completely conscious of market opportunities by which they could be interested is oftentimes presented, in conventional textbook expositions, included in the presumption of alleged “perfect competition.” The Dangerous Presumption Perfect competition clearly presumes market omniscience that is universal. A proven way of expressing the Austrian unhappiness aided…