What does effective competition mean?
Definitions for effective competition
ef·fec·tive com·pe·ti·tion
This dictionary definitions page includes all the possible meanings, example usage and translations of the word effective competition.
Wikipedia
Effective competition
Effective competition is a concept first proposed by John Maurice Clark, then under the name of "workable competition," as a "workable" alternative to the economic theory of perfect competition, as perfect competition is seldom observed in the real world. His proposal resulted in extensive debate in the economic literature over the next several decades in which George W. Stocking, Sr., George Stigler, Jesse W. Markham, Joe S. Bain, and many others participated. No consensus has yet been reached over which of many potential criteria should be used to judge competition to be effective, but as an alternative to identifying specific structural criteria by which to constitute effectiveness or workability, Jesse W. Markham suggested the following definition: An industry may be judged to be workably competitive when, after the structural characteristics of its market and the dynamic forces that shaped them have been thoroughly examined, there is no clearly indicated change than can be effected through public policy measures that would result in greater social gains than social losses. Despite the lack of consensus in the literature, the concept is often used in antitrust enforcement and public policy analysis, as a method for measuring and ensuring adequate levels of competitive performance in markets which may not be ideally structured. Charles F. Phillips, Jr. noted, "Workable or effective competition may result from conditions that are less exacting than those demanded for perfection."
Numerology
Chaldean Numerology
The numerical value of effective competition in Chaldean Numerology is: 4
Pythagorean Numerology
The numerical value of effective competition in Pythagorean Numerology is: 4
Examples of effective competition in a Sentence
European Securities and Markets Authority:
The high fees charged and regular fee increases imposed by some credit rating agencies suggest there may be little effective competition for the provision of credit ratings in some specific market segments within the EU at present, while it is encouraging to see that changes are taking place, we are realistic and know there is still work to be done which is why we have made recommendations relating to further supervisory powers regarding the appointment of independent non-executive directors and enhanced enforcement powers.
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"effective competition." Definitions.net. STANDS4 LLC, 2024. Web. 14 May 2024. <https://www.definitions.net/definition/effective+competition>.
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