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Strategic Interaction And Markets
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Book Synopsis Strategic Interaction and Markets by : Jean J. Gabszewicz
Download or read book Strategic Interaction and Markets written by Jean J. Gabszewicz and published by OUP Oxford. This book was released on 2000-01-06 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: Perfect competition provides the model of a frictionless economy, in which price-setting economic agents behave independently of each other, abandoning to the market the coordination of their individual decisions. The implications of this model are extensively presented in the traditional price theory textbooks. Imperfect competition is the paradigm that develops as soon as economic agents interact in a conscious manner, which is the rule when competition takes place amongst a restricted number of agents. In this system, agents act strategically, taking into account the impact of their decisions on competitors' behaviour and on the price mechanism. Such situations commonly arise when firms differentiate their products, erect strategic entry barriers, or exploit the imperfect information of their customers about the price or characteristics of their product. This book explores the theoretical richness of these economic contexts, using some basic tools of game theory. Designed as an ancillary text for graduate students, it not only summarizes the historic contributions made by economic theorists such as Cournot and Edgeworth, but also makes accessible many of the most recent developments in the same field.
Author :Jean Jaskold Gabszewicz Publisher :Oxford University Press, USA ISBN 13 :9780198233411 Total Pages :106 pages Book Rating :4.2/5 (334 download)
Book Synopsis Strategic Interaction and Markets by : Jean Jaskold Gabszewicz
Download or read book Strategic Interaction and Markets written by Jean Jaskold Gabszewicz and published by Oxford University Press, USA. This book was released on 1999 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt: Perfect competition provides the model of a frictionless economy, in which price-setting economic agents behave independently of each other, abandoning to the market the coordination of their individual decisions. The implications of this model are extensively presented in the traditional price theory textbooks. Imperfect competition is the paradigm that develops as soon as economic agents interact in a conscious manner, which is the rule when competition takes place amongst a restricted number of agents. In this system, agents act strategically, taking into account the impact of their decisions on competitors' behaviour and on the price mechanism. Such situations commonly arise when firms differentiate their products, erect strategic entry barriers, or exploit the imperfect information of their customers about the price or characteristics of their product. This book explores the theoretical richness of these economic contexts, using some basic tools of game theory. Designed as an ancillary text for graduate students, it not only summarizes the historic contributions made by economic theorists such as Cournot and Edgeworth, but also makes accessible many of the most recent developments in the same field.
Book Synopsis Strategic Interaction and Markets by : Jean Jaskold Gabszewicz
Download or read book Strategic Interaction and Markets written by Jean Jaskold Gabszewicz and published by . This book was released on 1999 with total page 91 pages. Available in PDF, EPUB and Kindle. Book excerpt: Imperfect competition is the paradigm that develops as soon as economic agents interact in a conscious manner. This text explores the theoretical richness of these economic contexts using some tools of game theory.
Book Synopsis Understanding Strategic Interaction by : Wulf Albers
Download or read book Understanding Strategic Interaction written by Wulf Albers and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 526 pages. Available in PDF, EPUB and Kindle. Book excerpt: Strategic interaction occurs whenever it depends on others what one finally obtains: on markets, in firms, in politics etc. Game theorists analyse such interaction normatively, using numerous different methods. The rationalistic approach assumes perfect rationality whereas behavioral theories take into account cognitive limitations of human decision makers. In the animal kingdom one usually refers to evolutionary forces when explaining social interaction. The volume contains innovative contributions, surveys of previous work and two interviews which shed new light on these important topics of the research agenda. The contributions come from highly regarded researchers from all over the world who like to express in this way their intellectual inspiration by the Nobel-laureate Reinhard Selten.
Book Synopsis Strategic Interaction by : Erving Goffman
Download or read book Strategic Interaction written by Erving Goffman and published by University of Pennsylvania Press. This book was released on 1970 with total page 155 pages. Available in PDF, EPUB and Kindle. Book excerpt: The two essays in this classic work by sociologist Erving Goffman deal with the calculative, gamelike aspects of human interaction. Goffman examines the strategy of words and deeds; he uses the term "strategic interaction" to describe gamelike events in which an individual's situation is fully dependent on the move of one's opponent and in which both players know this and have the wit to use this awareness for advantage. Goffman aims to show that strategic interaction can be isolated analytically from the general study of communication and face-to-face interaction. The first essay addresses expression games, in which a participant spars to discover the value of information given openly or unwittingly by another. The author uses vivid examples from espionage literature and high-level political intrigue to show how people mislead one another in the information game. Both observer and observed create evidence that is false and uncover evidence that is real. In "Strategic Interaction," the book's second essay, action is the central concern, and expression games are secondary. Goffman makes clear that often, when it seems that an opponent sets off a course of action through verbal communication, he really has a finger on your trigger, your chips on the table, or your check in his bank. Communication may reinforce conduct, but in the end, action speaks louder. Those who gamble with their wits, and those who study those who do, will find this analysis important and stimulating.
Book Synopsis Strategic Interaction in Multiple Markets by : Steven C. Salop
Download or read book Strategic Interaction in Multiple Markets written by Steven C. Salop and published by . This book was released on with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on Financial Markets and Strategic Interactions by : Marc Otto Nachmann
Download or read book Essays on Financial Markets and Strategic Interactions written by Marc Otto Nachmann and published by . This book was released on 1994 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Games in Management Science by : Pierre-Olivier Pineau
Download or read book Games in Management Science written by Pierre-Olivier Pineau and published by Springer. This book was released on 2019-08-14 with total page 417 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book covers a large spectrum of cutting-edge game theory applications in management science in which Professor Georges Zaccour has made significant contributions. The book consists of 21 chapters and highlights the latest treatments of game theory in various areas, including marketing, supply chains, energy and environmental management, and cyber defense. With this book, former Ph.D. students and successful research collaborators of Professor Zaccour wish to honor his many scientific achievements.
Book Synopsis Strategic Interaction Between Wholesale and Ancillary Service Markets by : David P. Brown
Download or read book Strategic Interaction Between Wholesale and Ancillary Service Markets written by David P. Brown and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Strategic Interaction Between Futures and Spot Markets by : José Luis Ferreira
Download or read book Strategic Interaction Between Futures and Spot Markets written by José Luis Ferreira and published by . This book was released on 2000 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Strategic Interaction Between Futures and Spot Markets by : José Luis Ferreira García
Download or read book Strategic Interaction Between Futures and Spot Markets written by José Luis Ferreira García and published by . This book was released on 2000 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Strategic Interaction, Vertical Market Linkages and Government Intervention in Food Markets by : S. McCorriston
Download or read book Strategic Interaction, Vertical Market Linkages and Government Intervention in Food Markets written by S. McCorriston and published by . This book was released on 1991 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Competition and Strategic Interaction in New Markets by : Rory Morgan McDonald
Download or read book Competition and Strategic Interaction in New Markets written by Rory Morgan McDonald and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: My dissertation focuses on how firms compete effectively in new markets, and explores several strategic issues faced by firms in these contexts. These include how firms strategically interact with their rivals, how they quickly and efficiently craft successful strategies and develop viable business models, and how they successfully position themselves as the cognitive referent in the new market they are creating. While prior research has examined many of these issues in the context of established markets, my research investigates new markets and traces the activities of entrepreneurial rivals. Through an in-depth, longitudinal field study of five firms in the online investing market, I develop new theory to explain how firms successfully achieve these objectives. The first theoretical framework offers an explanation for how firms win the race to develop a viable business model. As the new market emerged, high performing firms enacted three strategies in sequence, which helped them get to a business model quickly and efficiency. First, executives attended to substitutes and copied from rivals. Next, they actively tested assumptions and made major resource commitments to the most lucrative business model opportunity. Finally, they maintained loose links in the organizational activity system to accommodate emergent sources of value. The resultant middle range theory has implications for research on competition in new markets and the strategic processes of developing business models. The second theoretical framework offers an explanation for how some firms become the cognitive referent in a new market while others fail to do so. Although prior research has shown how firms and other actors use rhetoric and symbolic activities to create new markets, I analyze how entrepreneurial firms use the same cultural strategies to position themselves in a new market they are creating. Successful firms conceptualize market creation as problem solving and follow a sequence that begins with narrowly directed rhetorical attacks aimed at current solutions, progresses to shifting stories to coincide with emergent logics, and culminates with eschewing labels that audiences attach to them as these firms introduce novel products to the market. By contrast, unsuccessful firms undermine their own positions through improper use of symbolic market creation activities. The resultant theory is relevant to the literatures on cultural strategy and the performance of entrepreneurial firms.
Book Synopsis Innovative Perspectives on Interactive Communication Systems and Technologies by : Muhammad Sarfraz
Download or read book Innovative Perspectives on Interactive Communication Systems and Technologies written by Muhammad Sarfraz and published by Information Science Reference. This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book explores theories, approaches, methods, and tools on the use of interactive communication systems and technologies in interdisciplinary and multidisciplinary areas"--
Book Synopsis Location Choices Under Strategic Interactions by : Juan Alcácer
Download or read book Location Choices Under Strategic Interactions written by Juan Alcácer and published by . This book was released on 2012 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: The literature on location choices has mostly emphasized the impact of location and firm characteristics. However, most industries with a significant presence of multi-location firms are oligopolistic in nature, which suggests that strategic interaction among firms plays an important role in firms' decision-making processes. This paper explores how strategic interaction among competitors affects firms' geographic expansion across time and markets. Specifically, we build a model in which two firms that differ in their capabilities enter sequentially into two markets with different potentials for profit. The model is solved using game theory under three learning scenarios that capture the ability of a firm to transfer its capabilities across markets: no learning, local learning, and global learning. Three equilibrium strategies arise: accommodate, marginalize, and collocate. We identify how these strategies emerge depending on the tradeoff between the opportunity costs of absence (giving competitors a lead in a market) and the entrenchment benefits (the cost advantage firms develop through learning-by-doing when they enter early). Both the opportunity costs of absence and the entrenchment benefits vary according to initial relative firm capabilities, relative market profitability, and learning rates. Our model offers a comprehensive approach to understanding the drivers of firm location choices by modeling not only the impact of location and firm heterogeneity, but also the strategic interaction among firms.
Book Synopsis Theories of Imperfectly Competitive Markets by : Luis C. Corchon
Download or read book Theories of Imperfectly Competitive Markets written by Luis C. Corchon and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: The ambition of the theory of imperfectly competitive markets is to explain the working of markets in which the issue of strategic interaction among firms is central. Our analysis of this problem will be based on equilibrium concepts borrowed from Game Theory. This research program arises several questions on its feasibility like the empirical relevance of the results, the substantial theoretical insights obtained in this way, etc. Unfortunately, most of these questions can not be answered in the short run. This book is written in the hope that this research strategy is meaningful, but about its final success no body can tell. Another important question is if simpler models could deliver the essential insights offered by the theory of imperfectly competitive mar kets. This Introduction will be devoted to argue that, currently, there is no alternative to the approach presented in this book. Consider the following fact: A square inch of soil in the Explanada of Ali cante (located in front of the sea, right in the middle of downtown) cost several times more than a square inch of soil in San Vicente del Raspeig (located sev eral miles toward the interior of the peninsula). l How can we explain such a thing? First notice that because of the large quantity of possible traders involved in this market, we can safely assume that any agent has to accept the market price, i. e. is a price-taker.
Book Synopsis The Handbook of Behavioral Operations by : Karen Donohue
Download or read book The Handbook of Behavioral Operations written by Karen Donohue and published by John Wiley & Sons. This book was released on 2018-11-06 with total page 688 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive review of behavioral operations management that puts the focus on new and trending research in the field The Handbook of Behavioral Operations offers a comprehensive resource that fills the gap in the behavioral operations management literature. This vital text highlights best practices in behavioral operations research and identifies the most current research directions and their applications. A volume in the Wiley Series in Operations Research and Management Science, this book contains contributions from an international panel of scholars from a wide variety of backgrounds who are conducting behavioral research. The handbook provides succinct tutorials on common methods used to conduct behavioral research, serves as a resource for current topics in behavioral operations research, and as a guide to the use of new research methods. The authors review the fundamental theories and offer frameworks from a psychological, systems dynamics, and behavioral economic standpoint. They provide a crucial grounding for behavioral operations as well as an entry point for new areas of behavioral research. The handbook also presents a variety of behavioral operations applications that focus on specific areas of study and includes a survey of current and future research needs. This important resource: Contains a summary of the methodological foundations and in-depth treatment of research best practices in behavioral research. Provides a comprehensive review of the research conducted over the past two decades in behavioral operations, including such classic topics as inventory management, supply chain contracting, forecasting, and competitive sourcing. Covers a wide-range of current topics and applications including supply chain risk, responsible and sustainable supply chain, health care operations, culture and trust. Connects existing bodies of behavioral operations literature with related fields, including psychology and economics. Provides a vision for future behavioral research in operations. Written for academicians within the operations management community as well as for behavioral researchers, The Handbook of Behavioral Operations offers a comprehensive resource for the study of how individuals make decisions in an operational context with contributions from experts in the field.
