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Strategic
decisions & Working Capital (WC)
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Investment
decisions |
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Modes of diversification
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Inter-Organizational relationships
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Others : |
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Long-Term
Financial decisions |
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Investment
analysis and decision |
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The prisoner's
dilemma
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Prisoner
Y |
Prisoner
X |
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Confess |
Not confess |
Confess |
X (5 years)
Y (5 years) |
X (
3 months)
Y (10 years) |
Not
confess |
X (10
years)
Y (3 months) |
X (1 year)
Y (1 year) |
What is the dilemma of
the prisoner ? Confess or Not confess ?
Different strategies
for X :
X confess :
- 3 months imprisonment
if Y do not confesses
- 5 years imprisonment
if Y confesses
X do not confess :
- 10 years imprisonment
if Y confesses
- 1 year imprisonment
if Y do no confesses
Y can analyze the same
strategies.
If the prisoners have
a non cooperative attitude,
the best solution is to confess. They will
do both 5 years imprisonment
If the prisoners can cooperate,
the best solution is not to confess. In this
case they will do both 1 year imprisonment.
Economic examples
:
Economic theories
issued from the game theory for noncooperative
oligopoly :
Sources
:
Modern Industrial Organization, 2nd edition, Dennis .W. Carlton , Jeffrey .M. Peroloff, Addfison-Wesley, 1994
Economie Industrielle ( traduction de la 2ème édition par Fabrice Mazerolle), Dennis .W. Carlton , Jeffrey .M. Peroloff, de Boeck Université, 2008
Gaining and Soustaining Competitive Advantage, Jay. B. Barney, Addison-Wesley, 1997
Contemporary Strategic Analysis, Robert M. Grant, 3th edition, Blackwell, 1998
Strategic Management, Raphael Amit, Professor at Wharton University of Pennsylvania, US
Cours de Microéconomie, Bernard Jaquier, Ecole Hôtelière de Lausanne, 2003
(c) Bernard Jaquier, Professor in Economics and Finance, Switzerland, 2020
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