Nature of Competition: Trade of Asset
This is about the asset market of the title , as opposed to the rental right. We are herein interested in the secondary asset market. From the demanders’ perspective, at any rate, the supply being primary (" I " for gross domestic investment ) or secondary (wealth of the nation, W ) is trivial. Instead, it’s the rate of return that matters. For simplicity, we zero in on the individual asset, with the issue of “portfolio management” on hold. This would be a mirror image that we when in the product market rule out indefinitely many kinds of “substitutes.” Bluntly saying, the asset market is in, of and for the asset under consideration at the moment. Needless to say, over the long year, neither the national wealth ( W ) nor the units of asset on the block is “fixed.” The only "fixed" is variation. The...