Abstract: Both in US antitrust and EU competition policy a development to a broader appli-cation of rule of reason instead of per se rules can be observed. In the European discussion the attempt to base competition policy on a "more economic approach" is mainly viewed as im-proving the economic...

Hayek's well-known evolutionary concept of "competition as a discovery procedure" can be characterized as a parallel process of experimentation, in which rivalrous firms generate and test hypotheses about the best way to fulfill the consumers' preferences. Through this permanent process of...

Obwohl es dem Konzept des Soft Paternalismus gelang, die Aufmerk-samkeit auf die Bedeutung verhaltensökonomischer Erkenntnisse und die verhaltensbeein-flussende Wirkung von ‚weichen‘ Politikinstrumenten wie Default rules zu lenken, wird ge-zeigt, dass der Soft Paternalismus nur einen...

The Elgar Companion to Austrian Economics is a major new reference work which highlights the common ground between all the branches of the school while demonstrating the breadth and diversity within it. The Companion reflects the many areas where Austrian economists have made contributions,...

Law and economics has arguably become one of the most influential theories in contemporary legal theory and adjudication. The essays in this volume, authored by both legal scholars and economists, constitute lively and critical engagements between law and economics and new institutional...

The vertical allocation of regulatory powers within the European two-level system of network sector regulation is analysed from the perspective of the economic theory of legal federalism. The analysis shows that sophisticated combinations of harmonised European rules along with sufficient scope...

The purpose of this paper is to outline an evolutionary approach to the process of competition among institutions. We shall focus, in particular, on two issues: first, the role of the competitive process as a knowledge-creating process; and, second, the issue of what inferences, if any, can be...

The Open Method of Coordination (OMC) is a new governance method applied in the European Union to policy fields where the main competences still rest with the member states. The OMC should help to foster mutual learning about successful policies and promote policy transfer by identifying best...