A Reformulation of Certain Structure and Conduct Attributes of Pure Competition

Farmers are getting more and more concerned about problems of bargaining power. This is partly because corporations and labor unions in the food marketing business are becoming larger and stronger. We may need new theories, and new concepts, to understand how prices and incomes are actually made. Mr. Townshend-Zellner's paper suggests modifications in the usual assumptions of pure and perfect competition in order to develop a theory that is more realistic, and to open up a field for statistical measurement and analysis.