Author: Alexander SteinmetzPublisher:
ISBN:
Category :
Languages : en
Pages : 306
Book Description
Essays on Strategic Behavior and Dynamic Oligopoly Competition
Author: Alexander SteinmetzEssays on Strategic Behavior in Oligopoly Markets
Author: Kosin IsariyawongsePublisher:
ISBN:
Category : Oligopolies
Languages : en
Pages : 204
Book Description
This dissertation addresses issues of strategic behavior of firms in oligopoly markets. In the first study we analyze how generic advertising affects brand advertising and firm profits in differentiated oligopoly markets. We develop two models, one with vertical differentiation and another with horizontal differentiation. In the case of vertical differentiation, we amend Crespi's (2007) model to show that only the high quality firm will use brand advertising. We also show that when differentiation is horizontal, the equilibrium is likely to be more symmetric in terms of each firm's profits, spending on brand advertising, and response to generic advertising. We also demonstrate that generic advertising will increase expenditures on brand advertising when firms play a supermodular game. In the second study, we analyze the interaction between generic advertising, brand advertising, and firm profits when products are differentiated either vertically or horizontally and brand advertising is purely informative. That is, brand advertising lowers consumer search costs of identifying brand characteristics. The model demonstrates that firms can benefit from investing in brand advertising that lowers consumer search costs as well as from brand advertising that is purely persuasive. In addition, the results demonstrate that whether brand advertising is persuasive or informative, the outcome is more likely to be symmetric with horizontal differentiation than with vertical differentiation. This study shows that brand advertising is a strategic complement when persuasive and a strategic substitute when informative. In the third study, we allow the choice of strategic variable, output and price, to be endogenous to the firm. We consider the case where one firm chooses output and the other firm chooses price, which we call a Cournot-Bertrand model. We provide a real world example of this "Cournot-Bertrand" behavior and show that the outcome can be a Nash equilibrium. Allowing the timing of play (early or late) as well as the strategic variable (output or price) to be endogenous, we demonstrate an outcome where one firm competes in output and the other firm competes in price can be a subgame perfect Nash equilibrium.
Game Theory and Economic Behaviour
Author: Reinhard SeltenPublisher: Edward Elgar Publishing
ISBN: 9781858988726
Category : Economics, Mathematical
Languages : en
Pages : 0
Book Description
This two-volume set provides an overview of the work of Selten, the Nobel Prize winner who refined the Nash equilibrium concept of non- cooperative games for analyzing dynamic strategic interaction and applied these concepts to analyses of oligopoly. Twenty-five essays discuss topics including axiomatic characterizations, learning, political and social interaction, theories of oligopolistic competition, oligopoly experiments, and bilateral and coalition bargaining. Lacks a subject index. Annotation copyrighted by Book News, Inc., Portland, OR
Strategic Competition in Oligopolies with Fluctuating Demand
Author: Leslie NeubeckerPublisher: Springer Science & Business Media
ISBN: 3540295577
Category : Business & Economics
Languages : en
Pages : 237
Book Description
Dynamic oligopolistic competition has implications both for the strategic management of firms and for the design of an effective competition policy. Consequently, the present book considers the issue from a private and social perspective. It discusses the potential pro- and anticollusive effects of long-term business strategies, especially for cooperation and reinvestment in production, financing and management compensation, in markets with fluctuating demand. The method of supergame theory is applied to integrate long-run decisions and different types of demand into the analysis. Aside from its contributions to the theoretical literature, the book provides valuable insights into the design of competition policy. The observed development of prices is an indicator of the extent of collusion in the market and can thereby be used to assess antitrust regulation in certain business areas, and to focus the resources of competition authorities on markets where conditions are conducive to collusion.
Empirical Analysis of Strategic Behavior in Oligopoly
Author: Steven Lawrence PullerPublisher:
ISBN:
Category :
Languages : en
Pages : 216
Book Description
Essays on Consumer Search, Dynamic Competition and Regulation
Author: Alexei ParakhonyakPublisher: Rozenberg Publishers
ISBN: 9036101786
Category :
Languages : en
Pages : 139
Book Description
Equilibrium Theory for Cournot Oligopolies and Related Games
Author: Pierre von MouchePublisher: Springer
ISBN: 3319292544
Category : Business & Economics
Languages : en
Pages : 298
Book Description
This state-of-the-art collection of papers on the theory of Cournotian competition focuses on two main subjects: oligopolistic Cournot competition and contests. The contributors present various applications of the Cournotian Equilibrium Theory, addressing topics such as equilibrium existence and uniqueness, equilibrium structure, dynamic processes, coalitional behavior and welfare. Special emphasis is placed on the aggregative nature of the games that are relevant to such theory. This contributed volume was written to celebrate the 80th birthday of Prof. Koji Okuguchi, a pioneer in oligopoly theory.
Oligopoly and Dynamic Competition
Author: Mario BaldassarriPublisher: Springer
ISBN: 134912818X
Category : Business & Economics
Languages : en
Pages : 376
Book Description
The book has three main objectives. Firstly, to provide an up-dated analysis of the most important theoretical developments, secondly, to present significant empirical verifications and thirdly, to assess the micro-macro debate and the relations which link the market structure to the function of the economic system.
Strategy and Market Structure
Author: Martin ShubikPublisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 416
Book Description
Author: Wolfgang Leininger