ECO 550 Week 6 Discussion board New

 

ECO 550 Week 6 Discussion board New

 

What is game theory, and how do businesses use games?

In your Managerial Economics textbook, we consider a sequential-move game in which an entrant is considering entering an industry in competition with an incumbent firm (see Figure 15-1). There are several possibilities of how this sequential game will be played. We want to use the Froeb rule of look ahead and reason back.

Instructions

For your discussion post, use Figure 15-1 from the textbook as your starting point to address the following:

• Can, and how does, the entrant succeed?
• Is the incumbent ever in control of this game?
• You may wish to review the old game known as Duopoly, as well as Antoine-Augustin Cournot, to help inform your post.

https://hwacer.com/Tutorial/eco-550-week-6-discussion-board-new/

Note: In your discussion posts for this course, do not rely on Wikipedia, Investopedia, or any similar website as a reference or supporting source.

To earn full credit for your discussion, you must complete one post and one follow-up or reply to a classmate. Make sure both the post and the reply focus on the questions asked.

Clarification on policy on references.  In general you will not actually need a reference to reply to a discussion.  These are problem solving exercise. You are creating a solution, but you may chose to use a reference.  If you do use a reference, it must be an academically credible reference.  Remember that the reference you select is part of your credibility.  Never use investopedia, wikipedia, or any other predia.  These are not acceptable.  Use of one of these will mean zero credit on the exercise.

Second, the discussions are a learning activity.  We will assess your progress on the topic, but that is not a grade.  If you have not mastered all the insights, you will find feedback to help you improve your understanding.  Use that to do additional post to improve and we will re-assess our evaluation.