This paper examines verbal doublets which are in competition in Modern Greek. Since this topic has not attracted much attention in the recent literature, the first aim is to provide a concise definition and discuss aspects of the phenomenon. The second aim is to develop a detailed methodology for the compilation of a representative dataset. We propose several criteria that show which doublets should be considered suitable for the analysis, including formal as well as semantic/pragmatic criteria. On the basis of these criteria, we collected 131 verbal doublets (or triplets). For the analysis of the data, we apply quantitative and qualitative methods. We provide statistical results about the distribution of verbal suffixes and parasynthetic formations, their combinations in our dataset and the lexical category of the base. The qualitative analysis of the data focuses on the correlation between their pragmatic use and their semantic overlap, as well as the correlation between inflectional and derivational characteristics of the formations and their competition. The paper further discusses the theoretical insights gained from the analysis of Modern Greek data. We introduce the distinction between primary and secondary competition and discuss how our data bear on the analysis of pleonastic formations at the level of word formation.