 Meeting blindly… Is Austrian economics useful for dynamic capabilities theory?Andrey Shastitko and Svetlana Golovanova Russian Journal of Economics, 2016, vol. 2, issue 1, 86-110 Abstract: This paper relates competition studies and views on competition policy within Austrian economics to the dynamic capabilities theory. The idea of interacting research programs in economics is used to provide the frame for reflecting on particular issues of competition, on the one hand, and (1) ignorance, (2) knowledge (including tacit knowledge), (3) rationality, (4) equilibrium, (5) innovation, (6) entrepreneurship, and (7) monopoly, on the other hand. Unlike the majority of previous studies, these issues are discussed here mainly through the lens of new institutional economics. Williamson's three-level scheme is used to explain opportunities and constraints for mutually enriching exchange of concepts between different but close approaches in economic research. This paper shows that there are important interconnections and complementarities despite significant differences in objects of study and weak mutual flows of ideas and concepts. Keywords: competition; antitrust policy; entrepreneurship; dynamic capabilities; Austrian economics; new institutional economics; strategic management; sustainable competitive advantages (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:rujoec:v:2:y:2016:i:1:p:86-110 DOI: 10.1016/j.ruje.2016.04.005 Access Statistics for this article Russian Journal of Economics is currently edited by Alexey Kudrin More articles in Russian Journal of Economics from Elsevier |
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