PPT-Topic 8: Oligopoly and game theory

Topic 8 Part 1 30 May 2013 Date A ntitrust Economics 2013 David S Evans University of Chicago Global Economics Group Elisa Mariscal CIDE ITAM CPI Overview Role of Oligopolies in the Economy. These rules corres pond to the Computerized Lottery Games General Rules in the Iowa Administrative Code section 531 Chapter 20 1 Method of Play To play Iowas All or Nothing Game a player must select one or more sets of twelve 12 different numbers fr By Ben Cutting & . Rohit. . Venkat. Game Theory: General Definition. Mathematical decision making tool. Used to analyze a competitive situation in order to determine the optimal course of action. Professor Nicolas Petit, University of Liege. OECD Roundtable on Oligopoly Markets, 16 June 2015. Goals of the . presentation. Case for more . ex post . enforcement. . against. . tacit. collusion. Game Theory . Chapter 15. Outline. Cartels. The Prisoner’s Dilemma. Oligopolies. When Are Cartels and . Oligopolies Most . Successful?. Government Policy toward . Cartels and . Oligopolies. Business Strategy and . Game Theory . Chapter 15. Outline. Cartels. The Prisoner’s Dilemma. Oligopolies. When Are Cartels and . Oligopolies Most . Successful?. Government Policy toward . Cartels and . Oligopolies. Business Strategy and . Today: The fundamentals of game theory, including Nash equilibrium. USC Economics slide show by . Shivendra. . Awasthi. . ????. Today. Introduction to game theory. We can look at market situations with two players (typically firms). Oligopoly is a market dominated by a relatively small number of large firms. Unconcentrated markets have HH < 1,000. Products are either standardized or differentiated. Barrier to entry exist. Price, Output and profits depend on actions, reactions, and counteractions. Aims. Explain the meaning of oligopoly. Key Concepts. Oligopoly. Collude. Cartels. Price War. An oligopoly occurs when a few firms dominate a market.. In the UK. Car industry. The petrol market. The airline industry. 11b - Oligopoly. Oligopoly. 1. Characteristics and Examples. 2. Nature of the Demand Curve. 3. Short Run Equilibrium . 4. Long Run Equilibrium and Efficiency. 5. Other Issues. ARE BUSINESSES EFFICIENT?. What is Game Theory?. It is . a tool used to analyze strategic behavior . and trying . to maximize . his/her payoff . of the game by anticipating the actions of the other players and responding to them . Author: . Neil . Bendle. Marketing Metrics Reference: Chapter 7. © 2014 Neil . Bendle. and Management by the Numbers, Inc.. Game Theory studies competitive and cooperative interactions.. Despite often using terms such as “players” and “games”, the ideas apply to markets and managers.. 1. Introduction to game theory and its solutions. 2. Relate Cryptography with game theory problem by introducing an example. 3. Open questions and discussions. Game Theory and Cryptography Presented by The Desired Brand Effect Stand Out in a Saturated Market with a Timeless Brand By Mike Reynolds. Email: M.Reynolds2@bradford.ac.uk. DEE 2011 -. Slide . 1. Session Outline. Introduction. Example Game. A Closer Look. Extending the Game. DEE 2011 . - . Slide . 2. Introduction. Meister (1999).