Lester G. Telser "A Theory of Efficient Cooperation and Competition"
Cambridge University Press | English | 2005-11-10 | ISBN: 0521022207 | 320 pages | PDF | 11 MB





This book looks at competition in a new way. It attacks the notion thatcompetition always leads to good results and that more competition isbetter. It also attacks the notion that cooperation is always harmful.An efficient economic equilibrium requires an optimal combination ofboth cooperation and rivalry. Telser first examines the genesis ofcertain late nineteenth-century laws that affected competition in theUnited States. Going on to give new theoretical insights intocooperation and rivalry, he shows when unrestricted competition canlead to an efficient equilibrium, as well as when restrictions oncompetition can provide for the same. The tensions between these twoforces are especially pertinent to the study of innovation--the morecostly it is to protect the property rights of ideas, the greater isthe reliance on secrecy, and hence, the more likely is the wastefulduplication of results.

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