Competition among Institutions: Evolution within Constraints

Wolfgang Kerber and Viktor Vanberg

Chapter 2 in Competition among Institutions, 1995, pp 35-64 from Palgrave Macmillan

Abstract: Abstract Competition among institutions is a wide topic with many different aspects and problems to discuss. The purpose of this paper is to outline an evolutionary approach to the process of competition among institutions. For a more thorough analysis we will draw a parallel between ordinary market competition and the subject of our interest, competition in the realm of institutions. We shall focus, in particular, on two issues. First, the role of the competitive process as a knowledge-creating process. In this respect, we will show that institutional competition leads to the creation and spreading of new institutions. Secondly, we ask what inferences, if any, can be drawn from the nature of this process of competition among institutions to the desirability of its outcomes. Here we will argue that in the same way that competition on ordinary markets has to take place under certain rules, which ensure the desirability of these competitive processes, competition among institutions also requires a framework of rules channelling the competitive processes into desirable directions. Before we begin our discussion on these issues, however, some clarifying comments are in order to narrow down what we mean by ‘evolutionary approach’ and ‘competition among institutions’.

Keywords: Market Power; Market Competition; Competitive Process; Normative Criterion; Spontaneous Order (search for similar items in EconPapers)
Date: 1995
References: Add references at CitEc
Citations: View citations in EconPapers (7)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-24262-7_2

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349242627

DOI: 10.1007/9781349242627_2

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().