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Published in:
2012 | OriginalPaper | Chapter
Theoretical Background
Author : Markus Schimmer
Published in: Competitive Dynamics in the Global Insurance Industry
Publisher: Gabler Verlag
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Clearly, the term competition triggers different associations among theorists, policymakers and businessmen. While theorists and policymakers oftentimes relate competition to broad industry states and market structures, businessmen tend to conceive the concept as a rivalry between competing firms. Similar to these different stakeholder perceptions, there is also no unified notion of the concept within the social sciences. Instead, during the more than 200 years of academic discourse in economics and, more recently, in management research, various contrasting perspectives on competition have been promoted, leaving us with a somewhat ambiguous notion of the concept (McNulty, 1968).