Theories of competition and market performance - Multimarket competition and the source of potential entry

Arjen van Witteloostuijn*

*Corresponding author for this work

Research output: Contribution to JournalArticleAcademicpeer-review

Abstract

An important issue in the theory of industrial organization involves the question of market performance. This paper deals with the static-dynamic efficiency trade-off. Theories of competition are reviewed and classified. The concept of workable competition offers a verbal listing of conditions facilitating both efficiency dimensions. A crucial feature of workable competition is the force of potential rivalry. The study of sources of potential entry and market games identifies cases of intermediate competition which can serve as a welfare-theoretic yardstick for the evaluation of market performance. The nature of multimarket competition proves to be essential.

Original languageEnglish
Pages (from-to)109-139
Number of pages31
JournalDe Economist
Volume140
Issue number1
DOIs
Publication statusPublished - 1 Mar 1992

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