Further aspects of oligopolistic markets - Unit 3
Further mindmap of aspects related to oligopolistic markets.
- Created by: Aimen Kamran
- Created on: 28-05-13 20:04
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- Further aspects of oligopolistic markets
- Competition
- Non-price
- Marketing
- exclusive retailers
- Persuasive advertising
- goodwill, packaging
- Quality
- POS or after-sales
- Marketing
- Through price
- Non-price
- Collusion
- Cartels
- Sometimes legal e.g. OPEC
- Price ring
- Illegal
- Can benefit firms
- Higher prices
- Bad for consumer
- Higher prices
- Promotes inefficient businesses
- Can protect them from competition
- Other forms may be good
- e.g. joint product development
- Cartels
- Game Theory
- Mathematical approach to study of conflict and decision making.
- Concept of dominant strategy when not colluding
- If colluding can they trust each other or will they behave independently anyway?
- Models collusive and competitive
- If colluding can they trust each other or will they behave independently anyway?
- Concept of dominant strategy when not colluding
- Mathematical approach to study of conflict and decision making.
- Competition
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