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Book Synopsis
According to conventional economic wisdom, it is believed that the beneficial functioning of competition is not secured spontaneously but must be supported by state action, ie: specific antitrust laws and agencies. Hence, competition is regarded as an instance in which the visible hand of the state is believed to be needed in order to enable the invisible hand of the market to function more effectively. Topics discussed in this book include the competition and antitrust policy in the Austrian economic perspective; competition in the pharmaceutical market in Austria; a study of the greed factor in capitalism; consumption behaviours in a vertical differentiation model; the effects of mergers in the retail sector; and market competition with irrational agents.

Economics of Competition

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    A Hardback by Georg Leismuller, Elias J Schimpf

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      Publisher: Nova Science Publishers Inc
      Publication Date: 06/02/2013
      ISBN13: 9781622574162, 978-1622574162
      ISBN10: 1622574168
      Also in:
      Economics Macroeconomics

      Description

      Book Synopsis
      According to conventional economic wisdom, it is believed that the beneficial functioning of competition is not secured spontaneously but must be supported by state action, ie: specific antitrust laws and agencies. Hence, competition is regarded as an instance in which the visible hand of the state is believed to be needed in order to enable the invisible hand of the market to function more effectively. Topics discussed in this book include the competition and antitrust policy in the Austrian economic perspective; competition in the pharmaceutical market in Austria; a study of the greed factor in capitalism; consumption behaviours in a vertical differentiation model; the effects of mergers in the retail sector; and market competition with irrational agents.

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