Imperfect expectations

What’s the connection between competition and matrimony? Competition Commission of India Chairman Ashok Chawla thinks there’s a link that explains why India needs a robust competition law. Addressing future bureaucrats at the Sardar Patel Institute of Public Administration in Ahmedabad recently, he explained the weakness of a laissez faire market economy or perfect competition thus: “Perfect competition is as much of a mirage as the perfect wife or the perfect spouse. Therefore, there is a need for a robust competition Act.”