Further aspects of oligopolistic markets - Unit 3

Further mindmap of aspects related to oligopolistic markets.

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  • Further aspects of oligopolistic markets
    • Competition
      • Non-price
        • Marketing
          • exclusive retailers
        • Persuasive advertising
          • goodwill, packaging
        • Quality
          • POS or after-sales
      • Through price
    • Collusion
      • Cartels
        • Sometimes legal e.g. OPEC
      • Price ring
        • Illegal
      • Can benefit firms
        • Higher prices
          • Bad for consumer
      • Promotes inefficient businesses
        • Can protect them from competition
      • Other forms may be good
        • e.g.  joint product development
    • Game Theory
      • Mathematical approach to study of conflict and decision making.
        • Concept of dominant strategy when not colluding
          • If colluding can they trust each other or will they behave independently anyway?
        • Models collusive and competitive
          • If colluding can they trust each other or will they behave independently anyway?

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