Competition as a Model Economic Behavior: Theoretical Aspect
Abstract
The article deals with competition as a model of economic behavior. It describes economic determinants and agents’ participation motives (participation forms) in this process. In contrast to the F. Hayek’s approach, the author suggests to consider the problem of competition as a “closure†procedure and not as a discovery one, as this aspect is the second part of one and the same process of competition.
Keywords: Competition, Economic behavior model, Contracting, Institutions, Informational asymmetry.
References
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