Proposes a model which shows that Stackelberg competition is not necessarily welfare‐ enhancing compared with Cournot competition. Shows that, although in a simple duopoly model prices in a Stackelberg equilibrium are lower than in a Cournot equilibrium, this is not necessarily true in an...

Describes how mathematics enjoyed a virtual monopoly as the privileged method of economic inquiry in the post‐war period. Counters the argument that such a position generates negative consequences, such as monopoly rents and the abuse of dominant positions. Argues that competing schools of...