EconStor >
Universität Duisburg-Essen (UDE) >
Fakultät für Wirtschaftswissenschaften, Campus Essen, Universität Duisburg-Essen >
IBES Diskussionsbeiträge, Universität Duisburg-Essen >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/32122
  
Title:Monoculture versus diversity in competition economics PDF Logo
Authors:Budzinski, Oliver
Issue Date:2007
Series/Report no.:Diskussionsbeiträge aus dem Fachbereich Wirtschaftswissenschaften der Universität Duisburg-Essen, Standort Essen 158
Abstract:Economics rightfully represents the major basis for competition policy. Next to generating knowledge about competition and its welfare effects, the currently popular 'more-economic approach' is charged with a number of additional hopes and expectations, leading to a reduction of the ambiguities of real-world competition policy. While this article highlights the benefits of economics-based competition policy, it takes a cautious stance towards excessive expectations in particular regarding the idea that a monocultural, 'unified' competition theory as an exact, objective, and unerring scientific approach to antitrust makes normative assessment and generalizations superfluous. In a combination of two lines of argumentation, diversity in competition economics is advocated. Firstly, competition economics is empirically characterized by a considerable pluralism of theories and policy paradigms. This includes deviating views on core concepts like the nature of competition, the meaning of efficiency, or the goals of antitrust. Secondly, it is demonstrated that diversity of theories represents no imperfection of the state of science. In contrast, it is theoretically beneficial for future scientific progress. Therefore, no ultimate competition theory can ever be expected. As a consequence, the 'more-economic approach' must be extended in order to embrace diversity. This does not decrease its meaning and importance but instead puts some of the related high hopes into perspective.
Subjects:antitrust
more-economic approach
competition policy paradigms
industrial economics
methodology of science
JEL:L40
B50
L10
K21
Document Type:Working Paper
Appears in Collections:IBES Diskussionsbeiträge, Universität Duisburg-Essen

Files in This Item:
File Description SizeFormat
541747029.pdf323.77 kBAdobe PDF
No. of Downloads: Counter Stats
Download bibliographical data as: BibTeX
Share on:http://hdl.handle.net/10419/32122

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.