Oligopoly Pricing: Old Ideas and New Tools / Edition 1

Oligopoly Pricing: Old Ideas and New Tools / Edition 1

by Xavier Vives
     
 

ISBN-10: 026272040X

ISBN-13: 9780262720403

Pub. Date: 09/01/2001

Publisher: MIT Press

The "oligopoly problem"--the question of how prices are formed when the market contains only a few competitors--is one of the more persistent problems in the history of economic thought. In this book Xavier Vives applies a modern game-theoretic approach to develop a theory of oligopoly pricing.Vives begins by relating classic contributions to the field--including

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Overview

The "oligopoly problem"--the question of how prices are formed when the market contains only a few competitors--is one of the more persistent problems in the history of economic thought. In this book Xavier Vives applies a modern game-theoretic approach to develop a theory of oligopoly pricing.Vives begins by relating classic contributions to the field--including those of Cournot, Bertrand,
Edgeworth, Chamberlin, and Robinson--to modern game theory. In his discussion of basic game-theoretic tools and equilibrium, he pays particular attention to recent developments in the theory of supermodular games. The middle section of the book, an in-depth treatment of classic static models, provides specialized existence results,
characterizations of equilibria, extensions to large markets, and an analysis of comparative statics with a view toward applied work. The final chapters examine commitment issues, entry, information transmission, and collusion using a variety of tools: two-stage games, the modeling of competition under asymmetric information and mechanism design theory, and the theory of repeated and dynamic games, including
Markov perfect equilibrium and differential games.

The MIT Press

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Product Details

ISBN-13:
9780262720403
Publisher:
MIT Press
Publication date:
09/01/2001
Edition description:
New Edition
Pages:
441
Product dimensions:
6.00(w) x 9.00(h) x 1.00(d)
Age Range:
18 Years

Table of Contents

Preface
1Ideas of the Founding Fathers: Oligopoly Theory and Modern Game Theory1
2Game Theory Tools11
3Foundations of Partial Equilibrium Analysis75
4Quantity Competition: The Cournot Model93
5Price Competition: The Models of Bertrand and Edgeworth117
6Product Differentiation143
7Conjectures, Reactions, and Commitment185
8Competition with Asymmetric Information225
9Repeated Interaction and Dynamics301
10Epilogue353
Notes359
References385
Index415

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