Reference no: EM131276440 , Length: word count:3000
1. Select your Workshop case assignment, and using your research and analysis of that case proceed now to critically examine the importance of type, technology and time (collectively, the T/3) in understanding the game dimension. What key lessons did you provide for management in framing an optimal response to the dynamics of competition in the market-as-a-game?( Case Adidas Footwear VS NIKE )
2. Outline the intellectual reasoning behind game theory. Refer to strategic game concepts such as player type, zero-sum, Nash equilibrium and Prisoners' dilemma and then critically examine the extent to which they add value, if at all, to the economics of firm-specific behaviour.
3. Critically assess transaction cost economics (TCE). [Hint: develop the arguments outlined in your First Assignment].
"How unrealistic are the limitations and assumptions on which the management models are based? Nominate one model, and examine the extent to the model's value to modern management today. Support your answer with reference to specific examples and case study materials. [Hint: select either the Baumol model on pricing or the Marris model on dividends and innovation in the preparation of an answer].
4. Examine the extent to which the production-cost relationship and the economics of capacity can help or hinder management's drive to execute and achieve cost leadership in a firm. [Hint: In your answer, critically examine the five steps analysis].
5. Select 4 concepts from the economics of game theory and discuss their contribution to management decision making, [Hint...select from player type, Bertrand v Cournot game, Nash reaction, Prisoner's dilemma, folk theorem, dominant strategy, Nash equilibrium, Stackelberg leadership, belief systems, CTL, Turing patterns, ...]
6. Consider a firm that is contemplating entry into a new market. What contribution, if any, can game theory make to the analysis of the economic viability of such an entry strategy? Refer to the critical time line, reaction functions and the Nash premise in your reply. [Hint: Use the limit pricing model in preparing your answer].
How can we rationalise the infrequency of price wars amongst competitive firms in rival product markets. Support your answer with examples and case study material.
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