Advanced Game Theory. mid-term exam re-take
... gets demand 0. The demand function takes value of D(p) = √1+p charge equal prices, assume that demand is split evenly. 1. Find the pure strategy Nash Equilibrium Solution In pure strategies, undercutting the other firm (charging less than the other firm) is always a good idea, for it lets you capt ...
... gets demand 0. The demand function takes value of D(p) = √1+p charge equal prices, assume that demand is split evenly. 1. Find the pure strategy Nash Equilibrium Solution In pure strategies, undercutting the other firm (charging less than the other firm) is always a good idea, for it lets you capt ...
OPEC Debrief - Faculty Directory | Berkeley-Haas
... less than it was a year or two ago. Ironically, this makes cooperation harder rather than easier by limiting the ability to punish. 3. Why did cooperation break down so much? What advice would you offer future players? The main advice seems to be to build an enforcement mechanism early in the game. ...
... less than it was a year or two ago. Ironically, this makes cooperation harder rather than easier by limiting the ability to punish. 3. Why did cooperation break down so much? What advice would you offer future players? The main advice seems to be to build an enforcement mechanism early in the game. ...
Chapter Twenty-Six - Uniwersytet Warszawski
... different prices but everyone pays the same for same quantity Examples: mineral water, telecom. 3rd degree: different people pay different prices – (because different elasticities) – E.g.: discounts for students ...
... different prices but everyone pays the same for same quantity Examples: mineral water, telecom. 3rd degree: different people pay different prices – (because different elasticities) – E.g.: discounts for students ...
monopolistic competition - Università degli Studi di Macerata
... - on the other hand, defenders of advertising argue that firms use them to provide information, to take advantage of price differences, and to convey the existence of new products; so, each firm has less market power and new firms are allowed to enter more easily. ...
... - on the other hand, defenders of advertising argue that firms use them to provide information, to take advantage of price differences, and to convey the existence of new products; so, each firm has less market power and new firms are allowed to enter more easily. ...
Executive MPA Foundation Week II Economics I-IV
... – Dominant strategy - when a player has a strategy in a game that produces better results regardless of the strategy chosen by other players (opponents) • Each player may have a dominant strategy, but the result of each player exercising their dominant strategy may be less beneficial for the players ...
... – Dominant strategy - when a player has a strategy in a game that produces better results regardless of the strategy chosen by other players (opponents) • Each player may have a dominant strategy, but the result of each player exercising their dominant strategy may be less beneficial for the players ...
Porter's generic strategies
Porter's generic strategies describe how a company pursues competitive advantage across its chosen market scope. There are three/four generic strategies, either lower cost, differentiated, or focus. A company chooses to pursue one of two types of competitive advantage, either via lower costs than its competition or by differentiating itself along dimensions valued by customers to command a higher price. A company also chooses one of two types of scope, either focus (offering its products to selected segments of the market) or industry-wide, offering its product across many market segments. The generic strategy reflects the choices made regarding both the type of competitive advantage and the scope. The concept was described by Michael Porter in 1980.