Publisher's Synopsis
This second volume of "The Organization of Economic Activity" considers the nature of competition and the competitive process, bringing together Professor Demsetz's most significant work on the subject. The volume includes new work on the social dimensions of efficiency, the theory of oligopoly, and political competition. A theme that runs through most of the chapters is the importance of taking costly information into account when evaluating competition in a society organized through economic institutions that are capitalistic and political institutions that are democratic.
