Making European Merger Policy More Predictable: 7. IN LIEU OF A SUMMARY: CONSENSUS AND DISSENSUS BETWEEN THE VARIOUS APPROACHES 
Looking at the relationship of the various theoretical developments, there are complementarities as well as incompatibilities. Although modern Industrial Economics has come a long way, it seems still firmly rooted in the structure-conductperformance ...
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Making European Merger Policy More Predictable: 6.3. Policy Implications
In academia, the New Institutional Economics is a highly successful research programme. This can also be proved by looking at citation records. But in European competition circles, transaction cost economics as an important part of the New Institutio...
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Making European Merger Policy More Predictable: 6.2. Assumptions of Transaction Cost Economics
Transaction cost economists start from assumptions that are different from some of the more established approaches. True, taken separately, most of these assumptions have been around for a long time. It is, however, the merit of transaction cost econ...
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Making European Merger Policy More Predictable: 6.1. Transactions and Transaction Costs
The representatives of Transaction Cost Economics believe that transactions are fundamental for the economic process. They are interested in the analysis of conditions under which welfare-enhancing transactions take place.
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Making European Merger Policy More Predictable: 6. THE CONTRIBUTION OF THE NEW INSTITUTIONAL ECONOMICS: TRANSACTION COST ECONOMICS
The New Institutional Economics is a success story. At least five Nobel laureates can be counted as belonging to it (Kenneth Arrow, Ronald Coase, Friedrich Hayek, Douglass North, and Herbert Simon). Its competition theory branch, transaction cost eco...
on-of-new-institutional.html
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