Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
10 Cards in this Set
- Front
- Back
LEARNING OBJECTIVES
|
After studying this chapter, you should be able to:
Understand the industry conditions conducive to cooperation and collusion Outline how antitrust and antidumping laws affect domestic and international competition Articulate how resources and capabilities influence competitive dynamics Identify the drivers for attacks, counterattacks, and signaling Discuss how local firms fight multinational enterprises (MNEs) Participate in two leading debates concerning competitive dynamics Draw implications for action |
|
competitive dynamics
|
actions and responses undertaken by competing firms
|
|
competitor analysis
|
process of anticipating a rivals’ actions in order to revise a firm’s plan and prepare to deal with rivals’ responses
|
|
collusion
[COMPETITION, COOPERATION, AND COLLUSION] |
collective attempts between competing firms to reduce competition
|
|
tacit collusion
[COMPETITION, COOPERATION, AND COLLUSION] |
firms indirectly coordinating actions by signaling their intention to reduce output and maintain pricing above competitive levels
|
|
explicit collusion
[COMPETITION, COOPERATION, AND COLLUSION] |
firms directly negotiating output and pricing and dividing markets
|
|
cartel
[COMPETITION, COOPERATION, AND COLLUSION] |
entity that engages in output- and price-fixing involving multiple competitors
|
|
antitrust laws
[COMPETITION, COOPERATION, AND COLLUSION] |
laws attempting to curtail anticompetitive business practices
|
|
prisoners’ dilemma
[COMPETITION, COOPERATION, AND COLLUSION] |
in game theory, a type of game in which the outcome depends on two parties deciding whether to cooperate or to defect
|
|
game theory
[COMPETITION, COOPERATION, AND COLLUSION] |
branch of mathematics that studies the interactions between two competing parties
|