Chapter

Competition, Selection and Market Discipline

G. B. Richardson

in Information and Investment

Second edition

Published in print July 1997 | ISBN: 9780198292432
Published online November 2003 | e-ISBN: 9780191596810 | DOI: http://dx.doi.org/10.1093/0198292430.003.0007
 Competition, Selection and Market Discipline

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Competition is required to provide incentives and efficient selection. This chapter considers how the performance of these disciplinary and evolutionary functions is affected by the circumstances, such as price stability and implicit collusion, which provide predictability, and thereby permit informed investment decisions.

Keywords: collusion; competition; evolution; price stability; selection

Chapter.  8379 words. 

Subjects: Microeconomics

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