Ordo 2004
DOI: 10.1515/9783110504880-026
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The New Systems Competition

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“…In particular, the beneficial impact of competition on innovation and dynamic efficiency of a society is thus neglected. There are however inherent criticisms of his analysis (VAUBEL 2004). First, the strong assumptions about asymmetric information could be criticized.…”
Section: The Neoclassical Criticismsmentioning
confidence: 99%
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“…In particular, the beneficial impact of competition on innovation and dynamic efficiency of a society is thus neglected. There are however inherent criticisms of his analysis (VAUBEL 2004). First, the strong assumptions about asymmetric information could be criticized.…”
Section: The Neoclassical Criticismsmentioning
confidence: 99%
“…Given state quality signs, a race to the top in regulatory standards could even result. Third, as VAUBEL (2004) argues convincingly, governments have low incentives to control quality standards of exported goods while the quality of products domestically consumed is in their interest. This could lead to exports of low quality goods to which importing governments would react by restricting these imports.…”
Section: The Neoclassical Criticismsmentioning
confidence: 99%