Rivalry: In Business, Science, Among NationsRivalry is an attempt to understand facets of entrepreneurial societies by integrating the economic analysis with historical, political and psychological considerations, customarily shunned by economists. The author argues that decisions to make new business ventures, and readiness to take risks are both related to concepts of ranking hierarchies on local, national or international levels. He then constructs a theory of business enterprise and of rivalry supported by evidence on entrepreneurship, innovation, advertising, all examined with their historical, political or organisational concerns. This notion of rivalry among businessmen is used to derive guidelines for anti-trust legislation. Instead of pricing, profitability, concentration ratios and other criteria used today to infer non-competitive behaviour, he suggests using a measure of a firm's relative rate of innovation to infer it. By extending the notion of rivalry to the political sphere, national and international, guidelines are derived to evaluate the performance of state-owned enterprises and to examine policies related to free trade. |
Contents
Theory of the entrepreneurial firm | 1 |
2 Decision making and the goal of enterprises | 3 |
3 What do firms do? | 16 |
4 Hierarchy leapfrogging and productivity | 19 |
5 Where is the demand curve? | 21 |
6 Conclusions | 26 |
Who are the entrepreneurs? or dont confuse brains with a bull market | 29 |
1 Adversity and entrepreneurship | 30 |
7 Conclusions | 93 |
Inventions and innovations in business and science | 97 |
words and facts | 98 |
further implications for the theory of the firm | 105 |
3 The resistance to innovations in business and science | 110 |
4 Inventions and crises | 122 |
Origins of stateowned enterprises | 124 |
2 Economies of scales and externalities where are the facts? | 125 |
2 Luck wealth and diminished entrepreneurship | 37 |
3 Entrepreneurship some broader perspectives | 42 |
4 Conclusions | 44 |
Competition the leapfrogging game | 46 |
1 Competition defined | 47 |
2 Prices and sizes of enterprises | 49 |
3 Monopolies and oligopolies | 57 |
4 Innovations or prices? A criterion for competitive behavior | 62 |
5 Conclusions | 75 |
Advertising memory and custom | 77 |
1 Theory of memory and consumer behavior | 78 |
2 Advertising fa ts or why are you paying 299 for a widget? | 80 |
3 Melodies and memories | 82 |
4 Advertising and other sources of information | 84 |
Policy implications | 86 |
6 Noncustomary behavior innovations and advertising | 88 |
3 The emergence of stateowned enterprises regularities | 131 |
4 Decision making and the role of the state | 135 |
5 Stateowned enterprises further evidence | 138 |
6 Policy implications | 143 |
Restoring the wealth of nations | 146 |
1 Industrial policies a brief historical perspective | 147 |
myths and facts | 150 |
3 More on policy | 155 |
4 Conclusions | 158 |
Decision making and uncertainty a dynamic approach Appendix to Chapter 1 | 161 |
Ownership and decision making Appendix to Chapter 6 | 170 |
Notes | 173 |
| 211 | |
| 235 | |
| 241 | |
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Common terms and phrases
According advertising American antitrust argued argument Brenner companies competition competitors conclusion consumer context corporations costs creativity customary customers decision makers defined definition demand curve discussion distribution economic economies of scale economists entrepreneurs entrepreneurship evidence presented examined example existing expected fact factor of production firm's firms frequently Gamble goal hierarchy human behavior ideas implies increased individual industry innovations interpretation intervention inventions leapfrogging linked Listerine managers monopoly natural monopoly neoclassical neoclassical economics noncustomary notes observation oligopoly one's Ordover ownership particular people's perceived percent political predatory pricing predictions presented in Chapter previous chapters Procter & Gamble profits pursued question quoted reaction recall relative risk role Scherer scientists seems similar social state-owned enterprises strategies studies suggests Texas Instruments theory threat tion trade United utility function view of human views presented Wall Street Journal wealth