Economists and competition

In July 1994, the Federal Communications Commission launched a sophisticated procedure inviting tenders for the allocation of frequency licences for cellular telephones. This operation, which was considered a great success, was devised as a result of the advice of economists. J.-P. Ponssard outlines the founding principles and explains the history of the theory of competition, a very mathematical branch of economics from which this advice was taken. What competition? Is this an economist’s Utopia or an age-old moral position ? His talk, which starts off with rather technical terms, develops into an lively discussion. Are economic models adapted to the role which we want them to play, but, more importantly, do economists deserve to have as much influence as they do with respect to decisions which affect public life ?