Synopses & Reviews
Synopsis
This book looks at the process of competition in a new way. Attacking the notion that competition is always good and cooperation harmful, the author argues that efficient economic equilibrium requires an optimal combination of both cooperation and rivalry. 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.