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Please use this identifier to cite or link to this item: http://hdl.handle.net/1942/26677

Title: Market Power Extended: From Foucault to Meadows
Authors: Biely, Katharina
Dries, Maes
Van Passel, Steven
Issue Date: 2018
Citation: Sustainability, 10(8), p. 1-23 (Art N° 2843)
Abstract: Market power is a complex matter that is approximated with quantitative indicators within economics. However, these indicators may not fully capture market power, or they may fail to identify it, although it may be present. Moreover, a quantitative approach restricts market power as a concept, impeding the ability to discuss its relationship with other concepts, such as sustainability. This paper extends the definition of market power, following Foucault’s understanding of power and the associated theoretical discussions of power from different disciplines. We extended Foucault’s work by including systems thinking to capture the importance of the prevalent system’s paradigm, which is the ultimate initiator of action. Apart from distinguishing different elements of power, we also integrate an instrumental view on the elements of power. The developed frame allows us to understand the dynamic character of power as a force that strives to maintain or ameliorate the position of the paradigm that it serves. Based on this frame, we outline how this extended understanding of power can be used to analyze market power itself, and its relation with sustainability
Notes: Biely, K (reprint author), Hasselt Univ, Fac Business Econ, Ctr Environm Sci, B-3500 Hasselt, Belgium. katharina.biely@uhasselt.be; dries.maes@ewi.vlaanderen.be; steven.vanpassel@uhasselt.be
URI: http://hdl.handle.net/1942/26677
Link to publication: http://www.mdpi.com/2071-1050/10/8/2843
DOI: https://doi.org/10.3390/su10082843
ISI #: 000446767700259
ISSN: 2071-1050
Category: A1
Type: Journal Contribution
Appears in Collections: Research publications

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