TL;DR
This paper explores how game theory models strategic interactions among firms in oligopolistic markets to determine market equilibria, highlighting the application of theoretical tools to economic scenarios.
Contribution
It provides an explanation of how game theory techniques are applied to analyze equilibrium in oligopoly markets, illustrating the strategic interactions involved.
Findings
Game theory effectively models strategic decision-making in oligopolies.
Equilibrium outcomes depend on firms' strategic interactions.
The paper clarifies the application of game theory to market analysis.
Abstract
The game theory techniques are used to find the equilibrium of a market. Game theory refers to the ways in which strategic interactions among economic agents produce outcomes with respect to the preferences (or utilities) of those agents, where the outcomes in question might have been intended by none of the agents. The oligopolistic market structures are taken and how game theory applies to them is explained.
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Taxonomy
TopicsInnovation Diffusion and Forecasting · Supply Chain and Inventory Management · Sustainable Supply Chain Management