chapter_13Game Theory and Competitive Strategy演示教学.ppt

Chapter 1 79 80 81 83 83 84 86 87 88 89 39 41 41 44 44 45 46 46 47 48 48 49 50 51 53 53 55 56 61 62 63 64 66 66 68 69 70 72 72 76 75 77 10 11 12 9 14 14 14 16 18 18 20 21 22 24 24 26 27 27 21 21 29 29 29 30 31 33 33 37 36 36 33 33 Bargaining Strategy Consider: Two firms introducing one of two complementary goods. Bargaining Strategy Firm 1 Produce A Produce B Produce A Produce B Firm 2 40, 5 50, 50 5, 45 60, 40 Bargaining Strategy Firm 1 Produce A Produce B Produce A Produce B Firm 2 40, 5 50, 50 5, 45 60, 40 With collusion: Produce A1B2 Without collusion: Produce A1B2 Nash equilibrium Bargaining Strategy Suppose Each firm is also bargaining on the decision to join in a research consortium with a third firm. Bargaining Strategy Firm 1 Work alone Enter consortium Work alone Enter consortium Firm 2 10, 10 10, 20 40, 40 20, 10 Bargaining Strategy Firm 1 Work alone Enter consortium Work alone Enter consortium Firm 2 10, 10 10, 20 40, 40 20, 10 Dominant strategy Both enter Bargaining Strategy Linking the Bargain Problem Firm 1 announces it will join the consortium only if Firm 2 agrees to produce A and Firm 1 will produce B. Firm 1’s profit increases from 50 to 60 Bargaining Strategy Strengthening Bargaining Power Credibility Reducing flexibility Auctions Auction Formats Traditional English (oral) Dutch auction Sealed-bid First price Second price Auctions How to choose an auction format Private-value auction: bidders uncertain about the other bidders reservation price Common-value auction: bidders uncertain what the value is Valuation and Information Auctions Second-price sealed auction: bid your reservation price English auction: Bid in small increments until you reach your reservation price Private Value Auction Auctions The winning bids in both auctions is the reservation price of the second highest bidder Private Value Auction Auctions Sealed-bid auction First-price auction: lowers the bid Second-price auction: bid just above the second highest reservation price Both