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Selected efficiency: a neo-Schumpeterian evolutionary perspective on normative economic issues

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  • Mario Luiz Possas

Abstract

“Selected Efficiency: A Neo-Schumpeterian Evolutionary Perspective on Normative Economic Issues”. This paper intends to address an almost completely disregarded field in Neo-Schumpeterian Evolutionary economics: that of normative theory and competition policy issues. The amount of both modeling and appreciative theorizing that has been produced under this approach is already impressive, but it lacks a corresponding effort on normative implications of the theory. After discussing the limitations of the static Pareto-efficiency tools for competition analysis and policy, especially in antitrust, some scarce contributions towards dynamic efficiency and related concepts are briefly reviewed. Finally, an alternative dynamic efficiency concept labeled “ive efficiency”, focusing on the efficiency of the market as a ive environment (apud Nelson & Winter), is introduced and the basic lines of a possible analytical framework for its application are suggested. JEL Classification: D60; O33.

Suggested Citation

  • Mario Luiz Possas, 2004. "Selected efficiency: a neo-Schumpeterian evolutionary perspective on normative economic issues," Brazilian Journal of Political Economy, Center of Political Economy, vol. 24(1), pages 77-99.
    • Handle: RePEc:ekm:repojs:v:24:y:2004:i:1:p:77-99:id:659
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/659/2046
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    Keywords

    Innovation and market efficiency; selective efficiency;

    JEL classification:

    • D60 - Microeconomics - - Welfare Economics - - - General
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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