how the dynamics of market evolution shapes market performance and competition. The results of the simulation runs show a …

Friedrich A. von Hayek’s (1899-1992) view of competition as a discovery process is well known but little used. His … view of competition less relevant to the digital economy? Even Hayek had doubts. Unlike most ‘Austrian economists’ Hayek … I critically assess Hayek’s views on competition, monopoly and antitrust, and their relevance to the ‘digital economy’ …

Firms in traditional markets often compete in output à la Cournot. In this paper, we consider Cournot competition … levels of platform competition and for greater levels of single-homing. Allowing for any homing allocation, we also find that … both the level of platform competition and agent homing decisions determine side specific conduct parameters and, similar …

In this paper, an evolutionary theory of market competition is developed. It is rooted in concepts of Smith, Hayek and … role of diversity as a driving-force of evolutionary competition …