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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Editorial Reviews
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"An exceedingly careful and thorough treatment of the theoretical stock of knowledge on imperfect competition by one of the best oligopoly theorists of his generation....Its comprehensive coverage and attention to theoretical foundations and to proving results rigorously and with utmost generality means that scholars, not just students, will benefit from reading it." - Joseph Harrington, Professor of Economics, Johns Hopkins University
About the Author
Xavier Vives is Director of the Institut d'Anàlisi Econòmica, Barcelona.
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Most Helpful Customer Reviews
13 of 16 people found the following review helpful:
4.0 out of 5 stars
Deep... not Vast,
By "smattering" (BKK Thailand) - See all my reviews
This review is from: Oligopoly Pricing: Old Ideas and New Tools (Hardcover)
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...
1 of 3 people found the following review helpful:
4.0 out of 5 stars
Advanced Level,
By Richard Umbers "Umbugs" (Australia) - See all my reviews
This review is from: Oligopoly Pricing: Old Ideas and New Tools (Paperback)
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.
1 of 9 people found the following review helpful:
4.0 out of 5 stars
good 'un,
By A Customer
This review is from: Oligopoly Pricing: Old Ideas and New Tools (Paperback)
i liked this book but some bits were hard to understand.
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