Competition Collusion And Game Theory

Author : Lester G Telser
Publisher : Routledge
Page : 399 pages
File Size : 53,9 Mb
Release : 2017-09-05
Category : Business & Economics
ISBN : 9781351527163

Get Book

Competition, Collusion, and Game Theory by Lester G Telser Pdf

This original, quantitatively oriented analysis applies the theory of the core to define competition in order to describe and deduce the consequences of competitive and non-competitive behavior. Written by one of the world's leading mathematical economists, the book is mathematically rigorous. No other book is currently available giving a game theoretic analysis of competition with basic mathematical tools.Economic theorists have been working on a new and fundamental approach to the theory of competition and market structure, an approach inspired by appreciation of the earlier work of Edgeworth and Bohm-Bawerk and making use of the new tools of the theory of games as developed by von Neumann and Morgenstern. This new approach bases itself on the analysis of competitive behavior and its implications for the characteristics of market equilibrium rather than on assumptions about the characteristics of competitive and monopolistic markets. Its central concept is ""the theory of the core of the market,"" and it is concerned, with the conditions under which markets will or will not achieve the characteristics of uniform prices and welfare optimality.Telser provides a number of insights into the symptoms of competition, when and how competition is bought into play, the mechanisms of competition and collusion, the results of competition and collusion, and the results of competition and collusion for the economy and for the general public. Many misconceptions about the nature of a competitive equilibrium are dispelled. The book is not only a mathematical analysis of core price theory but also contains extensive empirical research in private industry. These empirical findings, from research pursued over several years, enhance understanding of how competition works and of the determinants of the returns to manufacturing industries.

Author : Joseph E. Harrington, Jr.
Publisher : MIT Press
Page : 145 pages
File Size : 40,7 Mb
Release : 2017-11-16
Category : Business & Economics
ISBN : 9780262036931

Get Book

The Theory of Collusion and Competition Policy by Joseph E. Harrington, Jr. Pdf

A review of the theoretical research on unlawful collusion, focusing on the impact and optimal design of competition law and enforcement. Collusion occurs when firms in a market coordinate their behavior for the purpose of producing a supracompetitive outcome. The literature on the theory of collusion is deep and broad but most of that work does not take account of the possible illegality of collusion. Recently, there has been a growing body of research that explicitly focuses on collusion that runs afoul of competition law and thereby makes firms potentially liable for penalties. This book, by an expert on the subject, reviews the theoretical research on unlawful collusion, with a focus on two issues: the impact of competition law and enforcement on whether, how long, and how much firms collude; and the optimal design of competition law and enforcement. The book begins by discussing general issues that arise when models of collusion take into account competition law and enforcement. It goes on to consider game-theoretic models that encompass the probability of detection and penalties incurred when convicted, and examines how these policy instruments affect the frequency of cartels, cartel duration, cartel participation, and collusive prices. The book then considers the design of competition law and enforcement, examining such topics as the formula for penalties and leniency programs. The book concludes with suggested future lines of inquiry into illegal collusion.

Author : K.H. Erickson
Publisher : K.H. Erickson
Page : 65 pages
File Size : 45,9 Mb
Release : 2013-12-06
Category : Mathematics
ISBN : 8210379456XXX

Get Book

Game Theory for Business: A Simple Introduction by K.H. Erickson Pdf

Game Theory for Business: A Simple Introduction offers an accessible guide to the central ideas and methods of business game theory, with over 35 diagrams to support the analysis. Understand a business’s role, goals and incentives. Examine adverse selection, moral hazard, and a bait and switch strategy, see how a firm may secure long-run gains, and learn what the show business industry can teach other businesses. Evaluate duopoly price competition, prospects for collusion, and industry entry deterrence using credible commitments and asymmetric information. Look at strategic behaviour with top dog, fat cat, puppy dog ploy, or lean and hungry strategies, Cournot output competition and Bertrand price competition. See what a business can learn from evolutionary biology, and how a firm may differentiate itself from its rivals.

Author : Louis Phlips
Publisher : Cambridge University Press
Page : 292 pages
File Size : 46,7 Mb
Release : 1995-10-19
Category : Business & Economics
ISBN : 0521498716

Get Book

Competition Policy by Louis Phlips Pdf

This book uses game theory to analyse anti-competitive behaviour among firms and to consider its implications for competition policy. Part I focuses on 'explicit collusion': the author proves that 'four are few and six are many', and shows how cartels can be enforced under imperfect and incomplete information. Part II on 'tacit collusion' discusses the informational requirements of collusion detection in noncooperative repeated games. In Part III on 'semicollusion', excess capacity is shown to reinforce collusion. Part IV is devoted to the detection of predatory pricing. In this book, Louis Phlips applies the latest economic theory to a discussion of several European antitrust decisions and empirical studies. The presentation of case studies, combined with a clear exposition of the theory, will make this book invaluable to teachers and students of competition policy.

Author : George Norman,Jacques-François Thisse
Publisher : Cambridge University Press
Page : 309 pages
File Size : 52,9 Mb
Release : 2000-11-30
Category : Business & Economics
ISBN : 9781139428583

Get Book

Market Structure and Competition Policy by George Norman,Jacques-François Thisse Pdf

This 2000 text applies modern advances in game theory to the analysis of competition policy and develops some of the theoretical and policy concerns associated with the pioneering work of Louis Phlips. Containing contributions by leading scholars from Europe and North America, this book observes a common theme in the relationship between the regulatory regime and market structure. Since the inception of the new industrial organization, economists have developed a better understanding of how real-world markets operate. These results have particular relevance to the design and application of anti-trust policy. Analyses indicate that picking the most competitive framework in the short run may be detrimental to competition and welfare in the long run, concentrating the attention of policy makers on the impact on the long-run market structure. This book provides essential reading for graduate students of industrial and managerial economics as well as researchers and policy makers.

Author : Luis C. Corchón,Marco A. Marini
Publisher : Edward Elgar Publishing
Page : 552 pages
File Size : 46,8 Mb
Release : 2018
Category : Electronic
ISBN : 9781788112789

Get Book

Handbook of Game Theory and Industrial Organization, Volume II by Luis C. Corchón,Marco A. Marini Pdf

This second volume of the Handbook includes original contribution by experts in the field. It provides up-to-date surveys of the most relevant applications of game theory to industrial organization. The book covers both classical as well as new IO topics such as mergers in markets with homogeneous and differentiated goods, leniency and coordinated effects in cartels and mergers, static and dynamic contests, consumer search and product safety, strategic delegation, platforms and network effects, auctions, environmental and resource economics, intellectual property, healthcare, corruption, experimental industrial organization and empirical models of R&D.

Author : Charles A. Holt
Publisher : Unknown
Page : 78 pages
File Size : 41,7 Mb
Release : 1988
Category : Antitrust law
ISBN : IND:30000104099183

Get Book

Strategic Business Behavior and Antitrust by Charles A. Holt Pdf

Author : Abdelhakim Hammoudi,Nabyla Daidj
Publisher : John Wiley & Sons
Page : 282 pages
File Size : 45,7 Mb
Release : 2017-12-27
Category : Business & Economics
ISBN : 9781119482604

Get Book

Game Theory Approach to Managerial Strategies and Value Creation by Abdelhakim Hammoudi,Nabyla Daidj Pdf

Economic players must often choose between several strategic options in a fierce competitive environment where interactions with competitors make decisions particularly complex. Game theory offers useful insights to choose an optimal decision or at least a basis for making rational decision given the constraints of the stakeholders’ environment. In presenting the concepts and the logical structure of the reasoning offered by game theory and their applications, the book explains the rational process of decision making in the framework of firm management and market competition. By avoiding the usual complexity of presentation often due to mathematical formalism, the book proposes a reflection and practical insights of game theory for practitioners (managers, strategists) and social, managerial and economic researchers. The book will expose both general teachings and a comprehensive analysis applied to specific case studies of various sectors of the economy.

Author : Terry Burke,Angela Genn-Bash,Brian Haines
Publisher : Routledge
Page : 264 pages
File Size : 55,6 Mb
Release : 2018-01-09
Category : Business & Economics
ISBN : 9781351333702

Get Book

Competition in Theory and Practice by Terry Burke,Angela Genn-Bash,Brian Haines Pdf

What is the role of competition in economic activity? How can it be understood? How can it be regulated? Competition is a buzz word in economic policy and in commerce. Yet it is given widely varying roles in different models and is viewed in very different ways by different schools. This book, published in 1991, provides a clear exposition of the major theoretical approaches to competition and an assessment of competition policy in the major economic powers.

Author : Mark Casson
Publisher : Oxford University Press
Page : 310 pages
File Size : 46,8 Mb
Release : 1991
Category : Business & Economics
ISBN : 0198288883

Get Book

The Economics of Business Culture by Mark Casson Pdf

Mark Casson demonstrates how the economic effects of cultureDSsocial values such as honesty, dedication, and loyaltyDScan be analysed in a rigorous fashion. The author argues that gains from technology in modern society can be offset by high costs stemming from the missing moral dimension whichhas implications for economic competitiveness and for social and economic institutions. A strong culture reduces transaction costs and enhances performanceDSthe success of an economy thus depends on the quality of its culture.

Author : Martin Shubik
Publisher : Unknown
Page : 422 pages
File Size : 54,9 Mb
Release : 1959
Category : Business & Economics
ISBN : STANFORD:36105033964730

Get Book

Strategy and Market Structure by Martin Shubik Pdf

Author : Kalyan Chatterjee,William Samuelson
Publisher : Springer Science & Business Media
Page : 407 pages
File Size : 50,5 Mb
Release : 2013-06-26
Category : Business & Economics
ISBN : 9781461470953

Get Book

Game Theory and Business Applications by Kalyan Chatterjee,William Samuelson Pdf

Game theory has been applied to a growing list of practical problems, from antitrust analysis to monetary policy; from the design of auction institutions to the structuring of incentives within firms; from patent races to dispute resolution. The purpose of Game Theory and Business Applications is to show how game theory can be used to model and analyze business decisions. The contents of this revised edition contain a wide variety of business functions – from accounting to operations, from marketing to strategy to organizational design. In addition, specific application areas include market competition, law and economics, bargaining and dispute resolution, and competitive bidding. All of these applications involve competitive decision settings, specifically situations where a number of economic agents in pursuit of their own self-interests and in accordance with the institutional “rules of the game” take actions that together affect all of their fortunes. As this volume demonstrates, game theory provides a compelling guide for analyzing business decisions and strategies.

Author : Victor J. Tremblay,Carol Horton Tremblay
Publisher : Springer Science & Business Media
Page : 820 pages
File Size : 40,8 Mb
Release : 2012-07-20
Category : Business & Economics
ISBN : 9781461432418

Get Book

New Perspectives on Industrial Organization by Victor J. Tremblay,Carol Horton Tremblay Pdf

This book covers the main topics that students need to learn in a course on Industrial Organization. It reviews the classic models and important empirical evidence related to the field. However, it will differ from prior textbooks in two ways. First, this book incorporates contributions from behavioral economics and neuroeconomics, providing the reader with a richer understanding of consumer preferences and the motivation for many of the business practices we see today. The book discusses how firms exploit consumers who are prone to making mistakes and who suffer from cognitive dissonance, attention lapses, and bounded rationality, for example and will help explain why firms invest in persuasive advertising, offer 30-day free trials, offer money-back guarantees, and engage in other observed phenomena that cannot be explained by the traditional approaches to industrial organization. A second difference is that this book achieves a balance between textbooks that emphasize formal modeling and those that emphasize the history of the field, empirical evidence, case studies, and policy analysis. This text puts more emphasis on the micro-foundations (i.e., consumer and producer theory), classic game theoretic models, and recent contributions from behavioral economics that are pertinent to industrial organization. Each topic will begin with a discussion of relevant theory and models and will also include a discussion of concrete examples, empirical evidence, and evidence from case studies. This will provide students with a deeper understanding of firm and consumer behavior, of the factors that influence market structure and economic performance, and of policy issues involving imperfectly competitive markets. The book is intended to be a textbook for graduate students, MBAs and upper-level undergraduates and will use examples, graphical analysis, algebra, and simple calculus to explain important ideas and theories in industrial organization.

Author : J.H.H Thijssen
Publisher : Springer Science & Business Media
Page : 255 pages
File Size : 53,9 Mb
Release : 2006-04-11
Category : Business & Economics
ISBN : 9781402079443

Get Book

Investment under Uncertainty, Coalition Spillovers and Market Evolution in a Game Theoretic Perspective by J.H.H Thijssen Pdf

Two crucial aspects of economic reality are uncertainty and dynamics. In this book, new models and techniques are developed to analyse economic dynamics in an uncertain environment. In the first part, investment decisions of firms are analysed in a framework where imperfect information regarding the investment's profitability is obtained randomly over time. In the second part, a new class of cooperative games, spillover games, is developed and applied to a particular investment problem under uncertainty: mergers. In the third part, the effect of bounded rationality on market evolution is analysed for oligopolistic competition and incomplete financial markets.

Author : Xavier Vives
Publisher : MIT Press (MA)
Page : 446 pages
File Size : 40,5 Mb
Release : 1999
Category : Business & Economics
ISBN : 0262220601

Get Book

Oligopoly Pricing by Xavier Vives Pdf

Applies a modern game-theoretic approach to develop a theory of oligopoly pricing. The text relates classic contributions to the field of modern game theory and discusses basic game-theoretic tools and equilibrium, paying particular attention to developments in the theory of supermodular games.