Front matter -- Preface -- 1. Three Mysteries -- 2. A Dynamic Process -- 3. Static Efficiency versus Dynamic Efficiency -- 4. Dynamic Competition -- 5. Case Studies of Dynamic Competition -- 6. Microbehavior and Macroperformance -- 7. An Explanation of the Mysteries -- 8. Public Policy Trade-Offs -- 9. Internalization of Risk -- Appendix: Two Types of Rationality -- Notes -- Index