In what ways is game theory of use in analyzing the behaviour of firms in an oligopolistic market?
Date Submitted: 12/21/2001 12:05:10
Category: / Business & Economy / Economics
Length: 7 pages (1793 words)
Category: / Business & Economy / Economics
Length: 7 pages (1793 words)
An oligopolistic market is a market dominated by a small number of participants who are able to collectively exert control over supply and market prices. A recurrent theme of oligopoly theory is whether prices are determinate with oligopolistic interaction. *A number of interesting new developments on the oligopoly front can be traced back to Stigler (1964) who examined the relationship between collusion and the information structure of an oligopolistic market. He argued that the basic problem …
Is this Essay helpful? Join now to read this particular paper
and access over 480,000 just like this GET BETTER GRADES
and access over 480,000 just like this GET BETTER GRADES
…for cartelization. (*source from http://www.ssc.upenn.edu /polisci/psci260/OPECweb/OPECHIST.HTM)
Bibliography
Oligopoly Pricing, Old Ideas and New Tools - Xavier Vives (1999), The MIT Press
Oligopoly, Competition and Welfare - P.A. Geroski, L. Phlips, A. Ulph (1985), Basil Blackwell
The Theory of Games and Markets - J. Rosenmuller (1981), North Holland
Introduction to Industrial Organization - L.M.B Cabral (2002), The MIT Press
http://www.ssc.upenn.edu/polisci/psci260/OPECweb/OPECHIST.HTM
Need a custom written paper? Let our professional writers save your time.