The Story of Perfect Competition and the Problem of Cognitive Dissonance

Earl, Peter E.; Wakeley, Tim

doi:10.2139/ssrn.970657

Download This Paper

Open PDF in Browser

Add Paper to My Library

The Story of Perfect Competition and the Problem of Cognitive Dissonance

31 Pages Posted: 16 Mar 2007

See all articles by Peter E. Earl

Peter E. Earl

University of Queensland - Faculty of Business, Economics and Law

Tim Wakeley

Griffith University - Department of Accounting, Finance and Economics

Date Written: March 13, 2007

Abstract

The model of perfect competition from the perspective of an active learner. The story told about the competitive process is shown to be problematic when students try to reconstruct it for themselves. In particular it has great potential to generate cognitive dissonance. An alternative approach to teaching competition as process is outlined which is based on ontological foundations and inductive learning rather than deductive analysis from core axioms.

JEL Classification: A22, B52, D01, L11, L26

Suggested Citation: Suggested Citation

Earl, Peter E. and Wakeley, Tim, The Story of Perfect Competition and the Problem of Cognitive Dissonance (March 13, 2007). Available at SSRN: https://ssrn.com/abstract=970657 or http://dx.doi.org/10.2139/ssrn.970657