Epistemic arguments play a significant role in Hayek's defense of market liberalism. His claim that market competition … and cost competition but also competition by innovations. Thence he overlooks the ambiguity that follows from the …

distribution. The theory suggests that in a free market competition between products is ultimately the origin of the uneven income …

Epistemic arguments play a significant role in Hayek's defense of market liberalism. His claim that market competition … and cost competition but also competition by innovations. Thence he overlooks the ambiguity that follows from the …

This paper analyses the institutional framework for pharmacies in Germany and competition in that sector, which is … characterized by significant competition deficits. Based on our diagnosis and findings the advantages and disadvantages of two …

-sharing, screening opportunities, and competition are important driving forces behind these new forms of work organization. We document … competition substantially fosters the trust strategy, reduces market segmentation, and leads to large welfare gains for both …

(Smith 1962) and recent theoretical results (Dufwenberg et al. 2008) suggest that competition forces people to behave as if …