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A Theory of Efficient Cooperation and Competition

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  • Telser,Lester G.

Abstract

This 1987 book looks at competition, attacking the notion that competition always leads to good results and that more competition is better. It also attacks the notion that cooperation is always harmful. An efficient economic equilibrium requires an optimal combination of both cooperation and rivalry. Telser first examines the genesis of certain late nineteenth-century laws that affected competition in the United States. Going on to give theoretical insights into cooperation and rivalry, he shows when unrestricted competition can lead to an efficient equilibrium, as well as when restrictions on competition can provide for the same. The tensions between these two forces are especially pertinent to the study of innovation - the more costly it is to protect the property rights of ideas, the greater is the reliance on secrecy, and hence, the more likely is the wasteful duplication of results.

Suggested Citation

  • Telser,Lester G., 1987. "A Theory of Efficient Cooperation and Competition," Cambridge Books, Cambridge University Press, number 9780521306195, March.
  • Handle: RePEc:cup:cbooks:9780521306195
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    References listed on IDEAS

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    1. Coase, R H, 1976. "Adam Smith's Views of Man," Journal of Law and Economics, University of Chicago Press, vol. 19(3), pages 529-546, October.
    2. Conybeare, John A C & Murdoch, James C & Sandler, Todd, 1994. "Alternative Collective-Goods Models of Military Alliances: Theory and Empirics," Economic Inquiry, Western Economic Association International, vol. 32(4), pages 525-542, October.
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    Citations

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    Cited by:

    1. Lester G. Telser, 1994. "The Usefulness of Core Theory in Economics," Journal of Economic Perspectives, American Economic Association, vol. 8(2), pages 151-164, Spring.
    2. Dennis Carlton & Bryan Keating, 2015. "Rethinking Antitrust in the Presence of Transaction Costs: Coasian Implications," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 46(4), pages 307-321, June.
    3. Amsden, Alice H. & Singh, Ajit, 1994. "The optimal degree of competition and dynamic efficiency in Japan and Korea," European Economic Review, Elsevier, vol. 38(3-4), pages 941-951, April.
    4. Daniel Arce M. & L. Gunn, 2005. "Working Well with Others: The Evolution of Teamwork and Ethics," Public Choice, Springer, vol. 123(1), pages 115-131, April.
    5. Ajit Singh, 2006. "Competition and Competition Policy in Emerging Markets: International and Developmental Dimensions," Chapters,in: Growth and Economic Development, chapter 12 Edward Elgar Publishing.
    6. José Romero, 2015. "Política industrial: única vía para salir del subdesarrollo," Serie documentos de trabajo del Centro de Estudios Económicos 2015-07, El Colegio de México, Centro de Estudios Económicos.
    7. Button, Kenneth & McDougall, Glen, 2006. "Institutional and structure changes in air navigation service-providing organizations," Journal of Air Transport Management, Elsevier, vol. 12(5), pages 236-252.
    8. Boyan Jovanovic & Peter L. Rousseau, 2001. "Mergers and Technological Change: 1885-1998," Vanderbilt University Department of Economics Working Papers 0116, Vanderbilt University Department of Economics.
    9. Liu, Min-Ling & Liu, Na-Ting & Ding, Cherng G. & Lin, Chieh-Peng, 2015. "Exploring team performance in high-tech industries: Future trends of building up teamwork," Technological Forecasting and Social Change, Elsevier, vol. 91(C), pages 295-310.
    10. Wu, Wei-Ming, 2009. "An approach for measuring the optimal fleet capacity: Evidence from the container shipping lines in Taiwan," International Journal of Production Economics, Elsevier, vol. 122(1), pages 118-126, November.
    11. Boivin, Caroline & Vencatachellum, Désiré, 1998. "Externalités et coopération en recherche et développement : une reconceptualisation," L'Actualité Economique, Société Canadienne de Science Economique, vol. 74(4), pages 633-649, décembre.
    12. Kenneth Button & Peter Nijkamp, 1997. "Network Industries, Economic Stability and Spatial Integration," Tinbergen Institute Discussion Papers 97-047/3, Tinbergen Institute.
    13. Productivity Commission, 2005. "Review of Part X of the Trade Practices Act 1974: International Liner Cargo Shipping," Inquiry Reports, Productivity Commission, Government of Australia, number 32.
    14. Granitz, Elizabeth & Klein, Benjamin, 1996. "Monopolization by "Raising Rivals' Costs": The Standard Oil Case," Journal of Law and Economics, University of Chicago Press, vol. 39(1), pages 1-47, April.
    15. Casey B. Mulligan & Kevin K. Tsui, 2016. "The Upside-down Economics of Regulated and Otherwise Rigid Prices," NBER Working Papers 22305, National Bureau of Economic Research, Inc.
    16. Stringham, Edward, 2003. "The extralegal development of securities trading in seventeenth-century Amsterdam," The Quarterly Review of Economics and Finance, Elsevier, vol. 43(2), pages 321-344.
    17. Alice H. Amsden & Ajit Singh, 1994. "Concurrence dirigée et efficacité dynamique en Asie : Japon, Corée du Sud, Taïwan," Revue Tiers Monde, Programme National Persée, vol. 35(139), pages 643-657.

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