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Games, Strategies and Decision Making
This book on game theory introduces and develops the key concepts with a minimum of mathematics. Students are presented with empirical evidence, anecdotes and strategic situations to help them apply theory and gain a genuine insight into human behaviour. The book provides a diverse collection of examples and scenarios from history, literature, sports, crime, theology, war, biology, and everyday life. These examples come with rich context that adds real-world meat to the skeleton of theory. Each chapter begins with a specific strategic situation and is followed with a systematic treatment that gradually builds understanding of the concept.
Games, Strategies, and Decision Making
Written for majors courses in economics, business, political science, and international relations, but accessible to students across the undergraduate spectrum, Joseph Harrington's innovative textbook makes the tools and applications of game theory and strategic reasoning both fascinating and easy to understand. Each chapter focuses a specific strategic situation as a way of introducing core concepts informally at first, then more fully, with a minimum of mathematics. At the heart of the book is a diverse collection of strategic scenarios, not only from business and politics, but from history, fiction, sports, and everyday life as well. With this approach, students don't just learn clever answers to puzzles, but instead acquire genuine insights into human behavior
The Theory of Collusion and Competition Policy
A review of the theoretical research on unlawful collusion, focusing on the impact and optimal design of competition law and enforcement. Collusion occurs when firms in a market coordinate their behavior for the purpose of producing a supracompetitive outcome. The literature on the theory of collusion is deep and broad but most of that work does not take account of the possible illegality of collusion. Recently, there has been a growing body of research that explicitly focuses on collusion that runs afoul of competition law and thereby makes firms potentially liable for penalties. This book, by an expert on the subject, reviews the theoretical research on unlawful collusion, with a focus on ...
Economics of Regulation and Antitrust, fifth edition
A thoroughly revised and updated edition of the leading textbook on government and business policy, presenting the key principles underlying sound regulatory and antitrust policy. Regulation and antitrust are key elements of government policy. This new edition of the leading textbook on government and business policy explains how the latest theoretical and empirical economic tools can be employed to analyze pressing regulatory and antitrust issues. The book departs from the common emphasis on institutions, focusing instead on the relevant underlying economic issues, using state-of-the-art analysis to assess the appropriate design of regulatory and antitrust policy. Extensive case studies ill...
Economics of Regulation and Antitrust
A substantially revised and updated new edition of the leading text on business and government, with new material reflecting recent theoretical and methodological advances; includes further coverage of the Microsoft antitrust case, the deregulation of telecommunications and electric power, and new environmental regulations. This new edition of the leading text on business and government focuses on the insights economic reasoning can provide in analyzing regulatory and antitrust issues. Departing from the traditional emphasis on institutions, Economics of Regulation and Antitrust asks how economic theory and empirical analyses can illuminate the character of market operation and the role for ...
Hub-and-Spoke Cartels
The first comprehensive economic and legal analysis of hub-and-spoke cartels, with detailed case studies. A cartel forms when competitors conspire to limit competition through coordinated actions. Most cartels are composed exclusively of firms that would otherwise be in competition, but in a hub-and-spoke cartel, those competitors (“spokes”) conspire with the assistance of an upstream supplier or a downstream buyer (“hub”). This book provides the first comprehensive economic and legal analysis of hub-and-spoke cartels, explaining their formation and how they operate to create and sustain a collusive environment. Sixteen detailed case studies, including cases brought against toy manuf...
Recent Advances in the Analysis of Competition Policy and Regulation
'This volume collects a number of original, cutting-edge contributions that take the reader swiftly and easily to the frontier of research on most of the current hot topics in industrial organization, antitrust and regulation. Skillfully edited by two outstanding leaders in the field, the volume will be a precious source for students, researchers and practitioners that need to figure out what research has achieved in recent years on these important policy issues.' Giancarlo Spagnolo, SITE Stockholm School of Economics and University of Tor Vergata, Sweden This state-of-the-art volume highlights important recent research contributions covering all the significant themes surrounding competitio...
Cartels Diagnosed
Collusion remains a strong undercurrent of business practice despite anti-cartel enforcement being a top priority of competition authorities. Alongside active prosecution of cartels, the study of cartels is a vibrant area of research for economic and legal scholars. A challenge for both practice and scholarship is that cartels evolve, as colluding firms continuously devise new methods to circumvent competition. Cartels Diagnosed presents twelve gripping cartel case studies of collusion from key business sectors such as the airline industry, the gasoline industry, and big pharma. Written by renowned economists, these concise and accessible case studies deliver novel insights into cartel formation, facilitating practices, cartels' modus operandi, and the efficacy of cartels. Assisting in understanding new cartel mechanisms and their effects, developing new policies to deter and destabilize cartels, and measuring harm, this volume on cartel morphology is an invaluable reference for supporting public and private enforcers in detecting and prosecuting cartels.
How Do Cartels Operate?
This paper distills and organizes facts about cartels from about 20 European Commission decisions over 2000-2004. It describes the properties of a collusive outcome in terms of the setting of price and a market allocation, monitoring of agreements with respect to price but more importantly sales, punishment methods for enforcing an agreement and also the use of buy-backs to compensate cartel members, methods for responding to external disruptions from non-cartel suppliers and handling over-zealous sales representatives, and operational procedures in terms of the frequency of meetings and the cartel's organizational structure.
