This chapter discusses the advantages of collective action. Collective action allows dealing with the wider context of corruption risks by assembling competitors and other stakeholders to come to agreement on ways to reduce corruption and the risks. Collective action has the additional advantage that it enables an entire business sector to manage expectations: in its talks with regulators and the wider public, it can indicate what it considers reasonable. The chapter poses the question: Why collective action? It defines collective action, and discusses its traditional use to illustrate aspects of the so-called “prisoner’s dilemma.” The chapter ends by posing the question: Is collective action really necessary?
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