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Competition, Diversity and Economic Performance

Processes, Complexities and Ecological Similarities Clement A. Tisdell, Professor Emeritus, School of Economics, The University of Queensland, Australia
This thought-provoking book explores the influences of market competition and diverse behaviours of economic agents on economic performance, particularly dynamic economic performance.
Extent: 336 pp
Hardback Price: $165.00 Web: $148.50
Publication Date: 2013
ISBN: 978 1 84720 746 3
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  • Economics and Finance
  • Evolutionary Economics
  • Industrial Economics
  • Environment
  • Ecological Economics
This thought-provoking book explores the influences of market competition and diverse behaviours of economic agents on economic performance, particularly dynamic economic performance.

Clem Tisdell illustrates – within evolutionary, dynamic and static contexts – how diversity can improve or impede economic performance. He addresses the fact the role of diversity in improving economic performance has been neglected by economic theorists by making economic diversity a focal point of economic analysis. In particular, special attention is given to the value of economic diversity and economic imperfections in improving the performance of economic processes in particular identified situations. Limitations of using market-like mechanisms for managing public bodies and business firms are discussed and the value of business cooperation (economic mutualism) as a means for improving economic performance is examined. It is also observed that as economies develop, different forms of economic competition and business cooperation evolve.

Challenging yet accessible, this book will prove a stimulating read for academics and students in the fields of economics, industrial organization and business and management.
‘Ecological and economic systems share some fundamental characteristics that Clem Tisdell has beautifully illuminated. He has given us a much better handle on the roles of competition, diversity, evolution and sustainability in complex, interdependent ecological and economic systems. Our ability to build a sustainable and desirable future fundamentally depends on this integrated understanding.’
– Robert Costanza, Portland State University, US

‘Competition, Diversity, and Economic Performance considers in depth the impact of the diversity of agents on economic performance and discusses how this relation is mediated by the nature of competition. In doing so, the author links together ideas rooted in different perspectives from early contributions in industrial organization until recent approaches. Overall, the book is an inclusive summary of the concept of diversity in standard economic theorizing.’
– Regional Studies

Contents: Preface 1. The Role of Competition and Diversity in Economic Performance: An Overview 2. Concepts of Economic Competition and Performance in Context 3. Diversity of Consumers, Product Innovation and Economic Performance 4. Schumpeter and the Dynamics of Capitalism: The Driving Force of Business Innovation 5. Reasons for Business Diversity and their Economic Importance 6. Diversity and the Evolution of Competitive Economic Systems 7. Competition, Diversity, Evolution and Sustainability: Are there Lessons from Ecology? 8. Market Niches, Competition and Economic Performance: More Clues from Ecology? 9. Market Impediments, Restrained Reactions and Market Dynamics 10. Variations in the Fitness of Firms, Dynamic Economic Performance, and Vulnerability 11. More on Differences in the Fitness of Firms, Market Selection and Product Variety 12. Using Market Mechanisms (for Example, Contracting Out) for the Efficient Public Provision of Commodities 13. Using Market and Market-like Mechanisms to Manage a Multidivisional Business Efficiently 14. Business Partnerships, Cooperation and the Enhancement of Economic Performance Index