by Xavier Vives
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Product Description
The "oligopoly problem"--the question of how prices are formed when the market contains only a few competitors--is one of the more persistent problems in the history of economic thought. In this book Xavier Vives applies a modern game-theoretic approach to develop a theory of oligopoly pricing.
Vives begins by relating classic contributions to the field--including those of Cournot, Bertrand, Edgeworth, Chamberlin, and Robinson--to modern game theory. In his discussion of basic game-theoretic tools and equilibrium, he pays particular attention to recent developments in the theory of supermodular games. The middle section of the book, an in-depth treatment of classic static models, provides specialized existence results, characterizations of equilibria, extensions to large markets, and an analysis of comparative statics with a view toward applied work. The final chapters examine commitment issues, entry, information transmission, and collusion using a variety of tools: two-stage games, the modeling of competition under asymmetric information and mechanism design theory, and the theory of repeated and dynamic games, including Markov perfect equilibrium and differential games.
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Average Customer Review:
1 of 1 people found the following review helpful:
Advanced Level, 2005-08-03
Make sure your maths is good and you already know abit about oligopoly pricing. It is thorough, detailed, and pushes the boundaries, but takes some concentration to follow.
Post graduate level I believe.
0 of 4 people found the following review helpful:
good 'un, 2002-09-12
i liked this book but some bits were hard to understand.
11 of 12 people found the following review helpful:
Deep... not Vast, 2001-11-16
This book is quite impressive in theoretical concept. This is appropriate for (really) very advanced undergrates, graduates with IO major (theoretical and analytical aspects) and researchers in IO. This book is absolutely not for introductory IO. The topics focus mainly on Quantity, Price, Spatial competition and Asymmetric Information. Tools used in the book are quite advanced. The good point of the book is strength in precise consideration of price discovery in oligopoly market. (how the price is formed, uniqueness and existence of the solution.) Other topics, e.g. advertising and entry, are not good stated here.
If you are looking for introductory text (advanced undergrates or graduate) in IO, see Tirole 1988. However if you are finding for the advanced books, see Handbook of IO (vol1 for pure theory, vol2 for empirical and extension ;esp. in international aspect of IO) and pick this one (if you are interested in Q, P and Spatialy concepts) also. Enjoy reading...
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