1 Welcome to EC 209: Managerial Economics- Group A By: Dr. Jacqueline Khorassani Study Guide Week Eleven Study the following topics before Thursday, November.

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Presentation transcript:

1 Welcome to EC 209: Managerial Economics- Group A By: Dr. Jacqueline Khorassani Study Guide Week Eleven Study the following topics before Thursday, November 15 and make sure that you don’t have any questions on them.

2 Chapter 10 Game Theory: Inside Oligopoly

3 What is a game? What is a payoff? What is a strategy? What are non-cooperative vs. cooperative games? What are simultaneous-move games versus sequential move games? What are one-shot game versus repeated games? What are normal form games? What is a Nash equilibrium?

4 One Shot Games –Pricing games? –Market share games? –Advertising games? –Coordination games? –Monitoring employees?

5 Infinitely repeated games Pricing games? What are the factors affecting collusion in repeated games?

6 Finitely Repeated Games: Uncertain final period Characteristics? Pricing Games?

7 Sequential (multistage) games Characteristics? Equilibrium? Pricing to prevent entry games?

8 Games in Which Timing Matters What is a credible threat? What is a strategic move? What is a credible promise? What is a commitment problem? What is a commitment device?