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A Dynamic Theory of Competition

Klein, Burton H. (1974) A Dynamic Theory of Competition. Social Science Working Paper, 59. California Institute of Technology , Pasadena, CA. (Unpublished)

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What is the relationship between competition and progress? It can be assumed that as of any given moment technologies provide different potentials for satisfying human desires. For example, it can be assumed that if Henry Ford had decided to enter, say, the pin making rather than the automobile business, he would have found in the former a lower potential: even if the elasticity of demand for pins were very high, there simply may have been no real opportunity to bring about a significant reduction in the cost. In other words, the potential as far as pin making was concerned might have been more or less completely exhausted. And if we assume an economy of pin mills, then obviously there could be little or no competition in ideas and no real progress.

Item Type:Report or Paper (Working Paper)
Additional Information:Published in Government Policies and Technological Innovation, National Technical Information Service. National Science Foundation, Washington, D.C. 20550. Vol. II, p. 109-149, State-of-the-Art Surveys, PB244572/AS, 1974.
Group:Social Science Working Papers
Series Name:Social Science Working Paper
Issue or Number:59
Record Number:CaltechAUTHORS:20171101-142345065
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Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:82846
Deposited By: Jacquelyn Bussone
Deposited On:02 Nov 2017 17:38
Last Modified:03 Oct 2019 18:59

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