Review of Industrial Organization 21: 103–105, 2002. © 2002 Kluwer Academic Publishers. Printed in the Netherlands. Structure–Conduct–Performance: A Comment on Blaug’s “Is Competition Such a Good Thing? Static Efﬁciency versus Dynamic Efﬁciency” JOHN HOWARD BROWN Department of Finance and Economics, P.O. 8151, Georgia Southern University, Statesboro, GA 30460, U.S.A. Blaug (2001) airily announces that, “Empirical science frequently proceeds on the untidy basis of what is plausible rather than what can be formally demonstrated beyond any doubt. The Structure–Conduct–Performance paradigm of yesteryear ...did just that but has since been superseded by game theory and transaction cost on one hand and the Chicago School of Richard Posner and Robert Bork on the other hand (p. 45)”. This statement occurs in an essay where he laments the sterile formality of the generally accepted model of competition (PERFECT) and reminds readers of the behavioral roots of the idea of competition. One certainly cannot dis- pute Blaug’s immense learning on anything having to do with the development of economic doctrines, however, this judgement that structure–conduct–performance has been superseded strikes me as, at very least, premature. Competition is by its very nature an aspect of human behavior. (Dare we call it their conduct?) In fact,
Review of Industrial Organization – Springer Journals
Published: Oct 13, 2004
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