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The Process of Competition
The study of competition and competitiveness has recently seen a great deal of expansion and development. This timely survey reviews the most important developments in policy and practice. It illustrates the complexity of competitive behaviour in the real world and provides a framework for understanding the different notions of competition. Special attention is given to key areas including: * competition as a process versus competition as a state of affairs * the behaviour of firms and organization of competition * new forms of competition and competition policies The Process of Competition will be essential reading for researchers, practitioners and policymakers concerned with competition policy, industrial economics and strategic management.
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What Reviewers Are Saying
'This book provides valuable and interesting insights into the dynamics of competition from a variety of different perspectives. It can be read with profit by anyone who is interested in the working of markets, competition and the modern theory of the firm.' -- Stan Metcalfe, University of Manchester, UK 'Competition is a continuing process of discovery, creation and co-ordination. The distillation of earlier, looser concepts of competition into equilibrium formulations, in which outcomes are directly determined by initial conditions, and all forms of novelty and initiative are excluded, has created the need for a new analysis. Such is the theme of this book, whose authors first elucidate the history of the concept of competition and then focus on the complementarity between firms and markets in a network of rivalry, co-operation and learning, the importance of organisation and institutions which enable this network to function, the innovative process, the formation of strategy, implications for policy, and the practice of the European Commission in controlling mergers. The result is a valuable contribution to the process of developing an analytical system for the study of economic processes.' -- Brian J. Loasby, University of Stirling, UK