Term:
Workable competition
Definition:
Workable competition is a notion which arises from the observation that since perfect competition does not exist, theories based on it do not provide reliable guides for competition policy.
Domain:
Finance
Source:
Glossary of Industrial Organisation Economics and Competition Law, compiled by R. S. Khemani and D. M. Shapiro, commissioned by the Directorate for Financial, Fiscal and Enterprise Affairs, OECD, 1993
