Prices and quantities converge to the theoretical competitive equilibria in continuous, double auction markets. The double auction is not a tatonnement mechanism. Disequilibrium trades take place. The absence of any influence of disequilibrium trades, which have the capacity to change the...

Although the phenomenon of competition is fundamental of the economic theory and policy, the scientists have not yet achieved the consensus concerning the kind of competition which should be protected. Contemporary researchers striving to find the answer to this question rely on their...