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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.
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Auction theory is an applied branch of economics which deals with how bidders act in auction markets and researches how the features of auction markets 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 conference of the price between the buyer and seller is an economic equilibrium. Auction theorists design rules for auctions to address issues which can lead to market failure. The design of these rulesets encourages optimal bidding strategies among 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.”
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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.
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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.
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.
