Paradox of competition | Wikipedia audio article
Channel: wikipedia tts
Date: 2019-01-23

This is an audio version of the Wikipedia Article:
https://en.wikipedia.org/wiki/Paradox_of_competition


00:00:52 1 Examples
00:03:03 2 Partial sentence, Global sentence, lead and lag effect
00:04:39 3 See also
00:04:58 4 Literature



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SUMMARY
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Paradox of competition in economics names a model of a situation where measures, which offer a competitive advantage to an individual economic entity, lead to nullification of advantage if all others behave in the same way. In some cases the finite state is even more disadvantageous for everybody than before (for the totality as well as for the individual). The term Paradox of competition (German: Konkurrenzparadoxon) was coined by German economist Wolfgang Stützel.  It is about a case of a rationality trap.
Stützel distinguishes three categories of paradoxes of competition:
Circuit paradoxes
Classical paradoxes
Marx paradoxes