Question

What conclusions can be drawn from the game theory view of oligopoly?

What conclusions can be drawn from the game theory view of oligopoly?

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Answer #1

According to game theory the decision of the firms and the outcomes in the oligopoly market structure is not only be affected the firm production but also other rival firms in the market where even a sales boosting decision such as advertising can lead to negative outcome all in all. Also at times, firms can take wrong decision due to lack of information and this can arise cases such as prisoners Dilemma etc and in this way game theory can help to understand the structure of oligopoly.

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