Abstract. The article presents the original and scientifically brand new model of forming the integrated competitive strategy of an enterprise under the conditions of oligopolic market, followed by the cases of empirical application. The integrated competitive strategy of oligopolic enterprise is considered to be the concerted set of partial (detailed) competitive strategies targeting the certain elements of internal and external environment of an enterprise, determining its strategic position and influencing performance. The complex assessment of the estimated impact of partial competitive strategies on performance criteria is implemented (multicriteria evaluation methods are applied) in order to indicate the detailed strategies, having the highest potential influence on enterprise performance (to be selected to form the integrated competitive strategy), and to determine their scales (weights in the structure of the integrated strategy). The results of empirical application of the model are proposed to be employed to set up long-term goals and choose the main directions of business strategy of an enterprise, to distribute financial, human and other resources for strategic actions to be designed and implemented.
Abstract. The paper provides the analysis of game theory models application to identify duopoly market equilibrium (quantities sold and market prices), to evaluate and compare the results of enterprises in a market. The purpose of the analysis is to determine to what extent theoretical models correspond to real life, that is how reliable they are in supporting and estimating decisions of duopoly companies, fortifying market prices and quantities sold, evaluating company's competing positions and possibilities for decision co-ordination. To describe discrete strategies equilibrium the "Prisoner's Dilemma" model is applied to a hypothetic market entrance game with possible side payments. Further analysis of the market entrance game incorporates mixed strategies based "Matching Pennies" model in case discrete strategies equilibrium does not exist. Continuous strategies are described analyzing hypothetic duopoly by applying Cournot, Stackelberg and Bertrand models. The fi rst and the second mover advantage issues are raised comparing outcomes of dynamic Stackelberg and Bertrand games for a leader and a follower. Stability and utility of cartel agreement for its participants is mathematically supported with the help of a multi-step repeated Cournot game. Having described, compared and applied the main game theory models to artifi cial duopoly market situations, the author passes over to the comparative analysis of the models' weaknesses and problems related to their practical application.
The paper analyses the phenomenon of market concentration in the context of the most popular industrial organization approaches: the structure-conduct-performance (SCP) approach and the efficiency hypothesis (EH). The theory of market concentration evaluation is briefly presented, followed by an analysis of the main concentration indicators and their application in recent empirical research. The main problem in the practical application of the Herfindahl-Hirschman index (HHI)-the necessity to incorporate the market shares of all the enterprises in the market-is further addressed and the issue of calculating the minimum value of the HHI is analysed from the theoretical point of view and by modelling hypothetical markets.
The paper analyses the impact of the economic crisis of 2008 on Lithuanian industries. The research involves 68 industries identified according to the 2nd-digit level classification of economic activities by Statistics Lithuania. Considering industry to be a complex phenomenon, the crisis effect is evaluated complexly on the basis of the system of 10 financial state and performance indicators belonging to four main groups of enterprise financial ratios: profitability, liquidity, solvency and asset turnover. SAW, TOPSIS and VIKOR multi-criteria decision making methods, widely applied in construction, economics and management, are selected as mathematical tools for quantitative assessment of the economic crisis effect on Lithuanian industries. By applying multi-criteria decision making methods relative positions (ranks) of industries are determined for every year of the period of 2006–2011. The ranks and their changes are further analysed distinguishing pre-crisis, crisis, and post-crisis periods, determining the industries most and least affected by the economic crisis; also, the industries characterised by the fastest and the slowest after-crisis recovery.
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