"The market has both a coordination function and an incentive function. The first theorem of welfare economics is all about coordination; the principal-agent model is all about incentives. What is the relative importance of the market in carrying out these two functions? While there has been a...

"The market has both a coordination function and an incentive function. The first theorem of welfare economics is all about coordination; the principal-agent model is all about incentives. What is the relative importance of the market in carrying out these two functions? While there has been a...

Hayek schimpfte sie einst ein Wieselwort: Die soziale Marktwirtschaft. Noch bis vor kurzem sah sich das Konzept der Sozialen Marktwirtschaft heftigster Kritik ausgesetzt und wurde als ungeeignet angesehen, um den oekonomischen Herausforderungen im Zuge der Globalisierung begegnen zu koennen. Die...

Vortrag von Prof. Dr. Dietrich Murswiek, Geschäftsführender Direktor des Instituts für Öffentliches Recht, Universität Freiburg

Vortrag von Prof. Dr. Dr. h.c. mult.Otmar Issing, Präsident des Center for Financial Studies, Goethe-Universität Frankfurt

This volume contains the papers and discussions of the 39th Ottobeuren Seminar on Economics dealing with the subject of "market power". The authors deal with numerous issues relevant to the market from a theoretical, empirical, political and legal perspective. This meeting of scholars from...

The objective of the seminar was to discuss current issues involving financial markets and the economy in the fields of corporate governance, banks and stock markets as well as the causes and the consequences of international financial crises. (Published in German.)