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Porter's Five Forces Framework is a method of analysing the competitive environment of a business. It draws from industrial organization (IO) economics to derive five forces that determine the competitive intensity and, therefore, the attractiveness of an industry in terms of its profitability. An "unattractive" industry is one in which the effect of these five forces reduces overall profitability. The most unattractive industry would be one approaching "pure competition", in which available profits for all firms are driven to normal profit levels. The five-forces perspective is associated with its originator, Michael E. Porter of Harvard University. This framework was first published in Harvard Business Review in 1979.
A coordination game is a type of simultaneous game found in game theory. It describes the situation where a player will earn a higher payoff when they select the same course of action as another player. The game is not one of pure conflict, which results in multiple pure strategy Nash equilibria in which players choose matching strategies. Figure 1 shows a 2-player example.
Alan Stuart Blinder is an American economics professor at Princeton University and is listed among the most influential economists in the world. He is a leading macro-economist, politically liberal, and a champion of Keynesian economics and policies.
Coopetition or co-opetition is a neologism coined to describe cooperative competition. Coopetition is a portmanteau of cooperation and competition. Basic principles of co-opetitive structures have been described in game theory, a scientific field that received more attention with the book Theory of Games and Economic Behavior in 1944 and the works of John Forbes Nash on non-cooperative games. Coopetition occurs both at inter-organizational or intra-organizational levels.
The Yale School of Management is the graduate business school of Yale University, a private research university in New Haven, Connecticut. The school awards the Master of Business Administration (MBA), MBA for Executives (EMBA), Master of Advanced Management (MAM), Master's Degree in Systemic Risk (SR), Master's Degree in Global Business & Society (GBS), Master's Degree in Asset Management (AM), and Ph.D. degrees, as well as joint degrees with nine other graduate programs at Yale University.
Avinash Kamalakar Dixit is an Indian-American economist. He is the John J. F. Sherrerd '52 University Professor of Economics Emeritus at Princeton University, and has been Distinguished Adjunct Professor of Economics at Lingnan University, senior research fellow at Nuffield College, Oxford and Sanjaya Lall Senior Visiting Research Fellow at Green Templeton College, Oxford.
Jonathan R. Macey is an American legal scholar who serves as the Sam Harris Professor of Corporate Law, Corporate Finance and Securities Law at Yale Law School. Macey is the 4th most cited legal scholar ever in the world in the field of corporate law.
Auction theory is a branch of applied economics that deals with how bidders act in auctions and researches how the features of auctions incentivise predictable outcomes. Auction theory is a tool used to inform the design of real-world auctions. Sellers use auction theory to raise higher revenues while allowing buyers to procure at a lower cost. The confluence of the price between the buyer and seller is an economic equilibrium. Auction theorists design rules for auctions to address issues that can lead to market failure. The design of these rulesets encourages optimal bidding strategies in a variety of informational settings. The 2020 Nobel Prize for Economics was awarded to Paul R. Milgrom and Robert B. Wilson "for improvements to auction theory and inventions of new auction formats."
Ian Ayres is an American lawyer and economist. Ayres is a professor at the Yale Law School and at the Yale School of Management.
A strategic move in game theory is an action taken by a player outside the defined actions of the game in order to gain a strategic advantage and increase one's payoff. Strategic moves can either be unconditional moves or response rules. The key characteristics of a strategic move are that it involves a commitment from the player, meaning the player can only restrict their own choices and that the commitment has to be credible, meaning that once employed it must be in the interest of the player to follow through with the move. Credible moves should also be observable to the other players.
Richard Jay Zeckhauser is an American economist and the Frank P. Ramsey Professor of Political Economy at Harvard Kennedy School at Harvard University.
David Sparks Evans is an American economist specializing in antitrust and two-sided markets. He is the chairman of Global Economics, Inc., and founding editor of Competition Policy International. He teaches at the University College London, where he is the co-executive director of the Jevons Institute for Competition Law and Economics, and at the University of Chicago Law School.
Honest Tea (U.S.) was a bottled organic tea company based in Bethesda, Maryland. It was founded in 1998 by Seth Goldman and Barry Nalebuff, and ultimately sold to become a wholly-owned subsidiary of The Coca-Cola Company. The tea brand was discontinued on December 31, 2022.
Harold "Hal" L. Sirkin is an American business consultant and author, who often writes about trends in innovation and global business competition. He graduated summa cum laude from the Wharton School of the University of Pennsylvania in 1980 with a B.S. in Economics, and from the University of Chicago in 1981 with an M.B.A. He is also a professor at Kellogg School of Management and a CPA.
Co-opetition: A Revolution Mindset that Combines Competition and Cooperation is a non-fiction book on coopetition, business strategy, and game theory by Adam M. Brandenburger and Barry J. Nalebuff. The book was initially published by Crown Business on May 1, 1996. As of 2015, the book is still available in its 9th printing.
Thinking Strategically: The Competitive Edge in Business, Politics, and Everyday Life is a non-fiction book by Indian-American economist Avinash Dixit and Barry Nalebuff, a professor of economics and management at Yale School of Management. The text was initially published by W. W. Norton & Company on February 1, 1991.
Seth Goldman is an American businessman. He is the former CEO of Honest Tea which he co-founded in 1998 with his former business professor, Barry Nalebuff. Goldman is the executive chairman of Beyond Meat, a plant-based protein company based in El Segundo, California.
This is a timeline of Intel, one of the world's largest semiconductor chip makers.
Co-opetition or coopetition – simultaneous competition and cooperation – is an important philosophy or strategy that goes beyond the conventional rules of competition and cooperation to achieve advantages of both. Global co-opetition, an application of co-opetition in a global context, is first systematically addressed in Luo’s (2004) book “Coopetition in international business”. According to this book, global co-opetition refers to the simultaneous competition and cooperation between multinational enterprises (MNEs) and their geographically dispersed business stakeholders such as global rivals, global suppliers, global distributors, global alliance partners, and foreign governments as well as among foreign subsidiaries within an MNE.
References
- ↑ "Barry Nalebuff". Yale School of Management. 2013-07-09. Retrieved 2020-03-19.
- ↑ "Barry Nalebuff". Yale School of Management. 2013-07-09. Retrieved 2020-03-19.
