Abstracts of brief communications (posters) are incorporated during this publication. they're prepared alphabetically part through part. Abstracts got among may possibly sixteen, 1994 and will 22, 1994 seem lower than overdue abstracts. these got after may possibly 22, 1994 aren't incorporated.

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2. THE CONSERVATIVE APPROACH TO MARKET COMPETITION The conservative tradition embraces theories such as the classical theory of competition put forward by Adam Smith and David Ricardo, the theory of perfect competition, and the theories of competition put forward by the Austrian and Chicago Schools. The conservative view perceives competition as a mechanism that allocates economic resources efficiently. Conservatives contend that market power is either non-existent or temporary because competition eradicates it in the long term.

198–9; Sraffa, 1926). Robinson formulated the theory of imperfect competition along the lines of the particular equilibrium economics of Alfred Marshal and Arthur Cecil Pigou (Gram & Walsh, 1983, p. 548; Triffi n, 1947, p. 3). Instead of challenging the equilibrium analysis of perfect competition, Robinson (1965) attempted to understand equilibrium positions by developing a new technique that would accommodate increasing returns to scale within an industry (p. 16). Not unlike Chamberlin, Robinson (1932) focused her attention on the fi rm and took into account its cost and revenue functions together with the implications for market competition and market power.

Introduction 9 address the gap, this study investigates the political economy of EU competition law with the help of the term workable or effective competition as an entry point by taking the telecommunications industry between 1980 and 2004 as a case study. There are three overarching arguments put forward in this study. The fi rst is that there is a disjunction between the stated objective of EU competition policy (establishing and maintaining decentralized markets) and its actual practice (loosely oligopolistic markets).

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