The great thing about not being president anymore is I can say whatever I want, about anything. Of course [now], nobody really cares what I say. And now I have the worst of all worlds -- my wife has become the secretary of state, so no one really cares what I say -- unless I mess up.
Matthew Rabin
A colleague saw the same model-calibrating the elasticity of demand facing a Cournot oligopolist as a function of the number of firms in the industry--described at the University of Chicago and at M. I. T. A Chicago economist derived the formula and said, "Look at how few firms you need to get close to infinite elasticities and perfect competition. " An M. I. T. economist derived the same formula and said, "Look at how large n has to be before you get anywhere close to an infinite elasticity and perfect competition. "
