The last couple of years have seen an increasing interest in critical loss analysis, both, in academia and in practice. This development is documented by various research papers, high-level exchanges between antitrust experts as well as an increasing number of case decisions which make use of...

In competition law, the problem of the optimal design of institutional and procedural rules concerns assessment processes of the pro- and anticompetitiveness of business behaviors. This is well recognized in the discussion about the relative merits of different assessment principles such as the...

Im Jahre 2005 fand im Rahmen eines OECD Policy Roundtables ein intensiver Meinungsaustausch der Mitgliedsstaaten zu dem Thema ‚Evaluation of the Actions and Resources of the Competition Authorities’ statt. Eine wesentliche Erkenntnis der Gespräche bestand in der Feststellung, dass...

For a decade, economists have been fascinated by the phenomenon of open source software (OSS). OSS is marked by free access to the software and its source code. It is developed in a public, collaborative manner by thousands of non-paid volunteers as well as profit seeking firms. Today, OSS is...

In the early phase of transition that started with the 1990s, Central and Eastern European Countries pursued economic restructuring of the enterprise sector that involved massive injections of state support. Also foreign investment from the West and facilitation of the development of a market...

Capitalism, characterized by private ownership, coordination through markets, and decentralization, is blamed for a variety of economic, environmental, and social ills. These critiques often confuse capitalism with cronyism, a system of government favoritism toward particular firms. We show how...

I review the state of the art of the academic theoretical and empirical literature on the potential trade-off between competition and stability in banking. There are two basic channels through which competition may increase instability: by exacerbating the coordination problem of...