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Complexity-minded antitrust

Author

Listed:
  • Nicolas Petit

    (European University Institute)

  • Thibault Schrepel

    (Vrije Universiteit Amsterdam)

Abstract

Complexity science permeates the policy spectrum but not antitrust. This is unfortunate. Complexity science provides a high-resolution screen on the empirical realities of markets. And it enables a rich understanding of competition, beyond the reductionist descriptions of markets and firms proposed by neoclassical models and their contemporary neo-Brandeisian critique. New insights arise from the key teachings of complexity science, like feedback loops and the role of uncertainty. The present article lays down the building blocks of a complexity-minded antitrust method.

Suggested Citation

  • Nicolas Petit & Thibault Schrepel, 2023. "Complexity-minded antitrust," Journal of Evolutionary Economics, Springer, vol. 33(2), pages 541-570, April.
    • Handle: RePEc:spr:joevec:v:33:y:2023:i:2:d:10.1007_s00191-023-00808-8
    DOI: 10.1007/s00191-023-00808-8
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    Cited by:

    1. Patrice Bougette & Oliver Budzinski & Frédéric Marty, 2023. "In the Light of Dynamic Competition: Should We Make Merger Remedies More Flexible?," Working Papers AFED 23-01, Association Francaise d'Economie du Droit (AFED).

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    More about this item

    Keywords

    Complexity theory; Antitrust; Evolutionary economics; Feedback loop; Uncertainty; Neoclassical economics;
    All these keywords.

    JEL classification:

    • K21 - Law and Economics - - Regulation and Business Law - - - Antitrust Law
    • K20 - Law and Economics - - Regulation and Business Law - - - General
    • K00 - Law and Economics - - General - - - General (including Data Sources and Description)
    • L12 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Monopoly; Monopolization Strategies
    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General

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