GAME THEORY AND THE STRATGIC BEHAVIOR OF OLIGOPOLIES
Analysis of market structures is thearea of economics, where game theory has madethe greatest use. On competitive markets with manyparticipants, each participant seeks the bestsolution for himself/herself, ignoring the actions ofother participants. However, if the number ofparticipants is small and...
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| Format: | Article |
| Language: | English |
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Faculty of Economics Pale University of East Sarajevo
2011-01-01
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| Series: | Zbornik Radova Ekonomskog Fakulteta u Istočnom Sarajevu |
| Subjects: | |
| Online Access: | http://www.ekofis.org/images/dokumenti/Aktivnosti/zr2011/Sladjana%20Radovic.pdf |
| _version_ | 1797764749825409024 |
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| author | Slađana Radović |
| author_facet | Slađana Radović |
| author_sort | Slađana Radović |
| collection | DOAJ |
| description | Analysis of market structures is thearea of economics, where game theory has madethe greatest use. On competitive markets with manyparticipants, each participant seeks the bestsolution for himself/herself, ignoring the actions ofother participants. However, if the number ofparticipants is small and each of them has somemarket power, then each participant must take intoaccount the behavior of others. The analysis of suchmarket structures especially reflects the use ofgame theory. This paper analyzes oligopolisticmarket structure and strategic interaction betweenthe participants in this market. The paper considersa few most important models related to differentbehaviors of enterprises in oligopolisticenvironment. It also analyzes how firms inoligopoly can take strategic steps to get anadvantage or a better position relative tocompetitors. The aim of the paper is to examine thepossibility of applying game theory to analyzestrategic actions of companies in oligopolisticmarkets. |
| first_indexed | 2024-03-12T20:00:12Z |
| format | Article |
| id | doaj.art-c90affd46e1c48a68a611c9cf7988f23 |
| institution | Directory Open Access Journal |
| issn | 1840-3557 |
| language | English |
| last_indexed | 2024-03-12T20:00:12Z |
| publishDate | 2011-01-01 |
| publisher | Faculty of Economics Pale University of East Sarajevo |
| record_format | Article |
| series | Zbornik Radova Ekonomskog Fakulteta u Istočnom Sarajevu |
| spelling | doaj.art-c90affd46e1c48a68a611c9cf7988f232023-08-02T02:30:24ZengFaculty of Economics Pale University of East SarajevoZbornik Radova Ekonomskog Fakulteta u Istočnom Sarajevu1840-35572011-01-015251269GAME THEORY AND THE STRATGIC BEHAVIOR OF OLIGOPOLIESSlađana RadovićAnalysis of market structures is thearea of economics, where game theory has madethe greatest use. On competitive markets with manyparticipants, each participant seeks the bestsolution for himself/herself, ignoring the actions ofother participants. However, if the number ofparticipants is small and each of them has somemarket power, then each participant must take intoaccount the behavior of others. The analysis of suchmarket structures especially reflects the use ofgame theory. This paper analyzes oligopolisticmarket structure and strategic interaction betweenthe participants in this market. The paper considersa few most important models related to differentbehaviors of enterprises in oligopolisticenvironment. It also analyzes how firms inoligopoly can take strategic steps to get anadvantage or a better position relative tocompetitors. The aim of the paper is to examine thepossibility of applying game theory to analyzestrategic actions of companies in oligopolisticmarkets.http://www.ekofis.org/images/dokumenti/Aktivnosti/zr2011/Sladjana%20Radovic.pdfoligopolyequilibriumstrategic behaviorgame theoryNesh’s equilibrium |
| spellingShingle | Slađana Radović GAME THEORY AND THE STRATGIC BEHAVIOR OF OLIGOPOLIES Zbornik Radova Ekonomskog Fakulteta u Istočnom Sarajevu oligopoly equilibrium strategic behavior game theory Nesh’s equilibrium |
| title | GAME THEORY AND THE STRATGIC BEHAVIOR OF OLIGOPOLIES |
| title_full | GAME THEORY AND THE STRATGIC BEHAVIOR OF OLIGOPOLIES |
| title_fullStr | GAME THEORY AND THE STRATGIC BEHAVIOR OF OLIGOPOLIES |
| title_full_unstemmed | GAME THEORY AND THE STRATGIC BEHAVIOR OF OLIGOPOLIES |
| title_short | GAME THEORY AND THE STRATGIC BEHAVIOR OF OLIGOPOLIES |
| title_sort | game theory and the stratgic behavior of oligopolies |
| topic | oligopoly equilibrium strategic behavior game theory Nesh’s equilibrium |
| url | http://www.ekofis.org/images/dokumenti/Aktivnosti/zr2011/Sladjana%20Radovic.pdf |
| work_keys_str_mv | AT slađanaradovic gametheoryandthestratgicbehaviorofoligopolies |