Dominant strategy is the strategy that is optimal for the firm irrespective of the behavior of the other firm.
In real world, one firm’s decision are effected by its competitor’s reaction. But in case of dominant strategy, the firm will follow the strategy that is giving him maximum rewards.
skip to main |
skip to sidebar
Topics
-
▼
2008
(81)
-
▼
November
(81)
- What is Economics?
- Demand
- Market Demand
- Law of Demand
- Supply
- Law of Supply
- Change in Demand and Increase/Decrease in quantit...
- Change in supply and Increase/decrease in quant...
- Equilibrium Price
- Changes in Market Equilibrium
- What is a Market?
- Consumer Surplus
- Consumer surplus and price elasticity of demand
- Types of goods
- Economics : Art Or Science
- Difference : Micro and Macro Economics
- Central Problems of an Economy
- The Production Possibility Curve
- Opportunity Cost
- What is Elasticity?
- Price elasticity
- Factors affecting Elasticity
- Income Elasticity
- Cross Elasticity
- Elasticity & Revenue
- Consumer Behavior
- Utility
- Law of Diminishing Marginal Utility
- Law of Equi-Marginal Utility
- Indifference curve Analysis
- The indifference curve
- The shape of the indifference curve and the margi...
- An indifference map
- A Budget Line (budget constraints)
- A change in consumer income and the budget line
- A change in the price of a good and the budget line
- Equilibrium position : Indifference analysis
- Income and substitution effect
- Theory of Production
- Law of diminishing marginal product
- Returns to scale
- Cost function
- Total Cost, Fixed Cost and Variable Cost curves
- Marginal Cost and Average Cost curves
- Long Run Cost
- Opportunity Costs, Explicit Costs and Implicit costs
- Derivation of long-run average cost curve
- Economies & Diseconomies of scale
- Shifts in the Cost Curves
- Isoquant Analysis
- Slope of isoquant curve/Marginal rate of substitution
- Isoquant map
- The Isocost Line
- Isoquant analysis :The Economically Efficient Poin...
- Producer’s surplus
- What is a Market?
- Perfect competition
- Demand Curve & Equilibrium in perfect competition
- Short run profit Maximisation in perfect competition:
- Long run profit Maximisation
- Short run vs Long Run
- Monopoly
- Monopolist’s Demand and MR Curve
- Monopoly vs Perfect Competition
- Equilibrium/Profit-Maximization : Monopoly
- Sources of Monopoly Power
- Price Discrimination :monopoly
- Oligopoly
- The importance of price and non-price competition
- Kinked demand Curve
- Game Theory :Introduction
- Game theory
- Cooperative versus noncooperative game
- Dominant strategy : Game Theory
- How to read a payoff matrix : Game Theory
- Example: Each player has a dominant strategy
- Example: one player dominant strategy
- Nash equilibrium
- Maximin strategy
- Discuss Problems.
- Micro Economics
-
▼
November
(81)
No comments:
Post a Comment