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by gech 3276 days ago
Does current economic theory include this common malfeasance among successful dominant businesses as efficient?
3 comments

I don't think current economic theory even takes these common malfeasances into account. This is against the law, and so no widely accepted theory would even acknowledge this.
Yeah, at best the theory will assume this kind of behavior will be sorted out by competition. At worst it is just blankly ignored completely.
Probably just foretells the rise of competitors as is the case here.
Correct. Rational Choice Theory would expect that sub-optimal or inefficient actions from a single party would drive counterparties to competitive parties.
Probably efficient for Walmart, sure.