Not a Single S&D Model: The Friedman-Stigler Double-Ceiling Theory

Choi, Hak

doi:10.2139/ssrn.2472285

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Not a Single S&D Model: The Friedman-Stigler Double-Ceiling Theory

11 Pages Posted: 27 Jul 2014 Last revised: 23 May 2015

See all articles by Hak Choi

Hak Choi

Chienkuo Technology University - Department of International Business; Chung-Hua Institution for Economic Research

Date Written: July 26, 2014

Abstract

This paper reviews many economics theories only to find that not a single theory has used the supply and demand (S&D) model. This disappointment contrasts sharply with the prevalent use of such model by many unsophisticated people, including many lip-service economists. Instead of throwing out such model, this paper argues that people should respect it and refrain from tampering it.

Keywords: Demand, Supply

JEL Classification: A10

Suggested Citation: Suggested Citation

Choi, Hak, Not a Single S&D Model: The Friedman-Stigler Double-Ceiling Theory (July 26, 2014). Available at SSRN: https://ssrn.com/abstract=2472285 or http://dx.doi.org/10.2139/ssrn.2472285