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101 oligopoly

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Gale Pooley
Gale Pooley

Oligopoly

1 de 21
Microeconomics Oligopoly Few to Sell
Perfect Monopolistic Monopoly Oligopoly Competition Competition Number of Many One Many Few Firms Type of Identical Unique Brands Similar Product Ease of Entry Easy Blocked Easy Hard Demand D = MR D > MR Dynamic Game Theory STC-Mobily Brands Commodities HyperPanda Utilities Coke Examples Rice Danube Government Apple Apples Pairs
Key Terms Collusion Dominant Strategy Nash Equilibrium Cooperative Equilibrium Non-cooperative Equilibrium
Oligopoly
Oligopoly Small number of interdependent firms compete
Oligopoly
Oligopoly Cannot use usual methods Demand curves not obvious Complex Strategy
Oligopoly
Oligopoly Don’t know Demand Curve Don’t know Marginal Revenue curve Don’t know where to find profit maximization point
Eddie Prisoner's Dilemma Silent Betrays Eddie Eddie Silent 1 Year Goes Free Willie Willie 1 Year 10 Years Willie Eddie Eddie 10 Years 5 Years Betrays Willie Willie Goes Free 5 Years
Prisoner's Dilemma
Prisoner's Dilemma Pursuing the Dominant Strategy Results in Non-Cooperation and Leaves Everyone Worse Off
Game Theory
Game Theory Rules Strategies Payoffs
John Nash (1928 - ) Game Theory Nash Equilibrium Nobel 1994 A Beautiful Mind
Duoploy
Duoploy Two Sellers
Hyper Panda 2 1 Danube Danube 2 1,000 500 Hyper Panda Hyper Panda Danube 1,000 2,000 Danube Danube 2,000 700 1 Hyper Panda Hyper Panda 500 700
Profits Attract Competition
Five Competitive Forces
Five Competitive Forces Existing Firms Potential Firms Substitutes Buyers Suppliers

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101 oligopoly

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