TAILIEUCHUNG - Lecture Managerial economics (9th edition): Chapter 13 – Thomas, Maurice

Chapter 13 - Strategic decision making in oligopoly markets. this chapter introduced you to game theory, an indispensable tool for thinking about strategic decision making. We focused on three types of strategic decision situations: (1) simultaneous decisions, in which managers make their individual decisions without knowing the decisions of their rivals; (2) sequential decisions, in which one manager makes a decision before the other; and (3) repeated decisions, in which strategic decisions are made repeatedly over time by the same firms. | Chapter 13 Strategic Decision Making in Oligopoly Markets Oligopoly Markets Interdependence of firms’ profits Distinguishing feature of oligopoly Arises when number of firms in market is small enough that every firms’ price & output decisions affect demand & marginal revenue conditions of every other firm in market 13- Strategic Decisions Strategic behavior Actions taken by firms to plan for & react to competition from rival firms Game theory Useful guidelines on behavior for strategic situations involving interdependence 13- Simultaneous Decisions Occur when managers must make individual decisions without knowing their rivals’ decisions 13- Dominant Strategies Always provide best outcome no matter what decisions rivals make When one exists, the rational decision maker always follows its dominant strategy Predict rivals will follow their dominant strategies, if they exist Dominant strategy equilibrium Exists when when all decision makers have dominant strategies 13- .

• Kinh tế học
• Managerial economics
• Lecture Managerial economics
• Strategic decision making
• Microeconomic theory
• oligopoly markets
• Managerial decisions
• Market interactions
• Fundamentals of managerial economics
• Marginal analysis
• Marginal benefit
• Economic principles
• Kinh tế học quản lý
• Price discrimination
• Monopolistic competition
• Oligopoly games
• Traditional oligopoly models
• Capital market
• Labour market
• Economic equations
• Economic applications
• Economic applications of derivatives
• Economic application
• Multi variable functions
• Constrained optimization
• Scatter diagram
• Forms of money
• Monetary policy
• Perfect competition
• Demand function
• Supply function
• Quantitative demand analysis
• Theory of individual behavior
• Demand estimation
• Production function
• Costs of production
• Organizing production