Markus Thomas Münter

Microeconomics, Competition and Strategic Behaviour (eBook, PDF)

Strategy and Decision-Making in Markets

• Format: PDF

Produktbeschreibung

Microeconomics is not applied math – frameworks in this book are regularly in use in daily managerial practice and strategic decision-making. Numerous case studies cover price discrimination, economies of scale, digital business models, game theory, dealing with uncertainty, entry barriers or sunk costs – all of which are crucial for understanding market dynamics and competitive behaviour.

Produktdetails

• Verlag: UTB GmbH
• Seitenzahl: 421
• Erscheinungstermin: 5. September 2022
• Englisch
• ISBN-13: 9783838559087
• Artikelnr.: 71188187

Autorenporträt

Markus Thomas Münter ist seit 2014 Professor für Volkswirtschaftslehre, insbesondere Mikroökonomie, an der htw saar. Schwerpunkte seiner Forschung sind das Zusammenspiel von disruptiven Innovationen, Wettbewerbsfähigkeit von Unternehmen und endogenen Marktstrukturen. An der htw saar lehrt Münter Mikroökonomie, Wettbewerbspolitik sowie Managerial and Behavioral Economics. Daneben unterstützt er Unternehmen, deren Fähigkeiten nachhaltig und dauerhaft zu verbessern ¿ aktuell insbesondere in den Themen Innovationsstrategie, Digitalisierung und organisatorische Neuaufstellung.Münter hat am Lehrstuhl für theoretische Volkswirtschaftslehre der Friedrich-Alexander-Universität Erlangen-Nürnberg promoviert und an der London Business School gearbeitet. Vor seinem Einstieg an der htw saar hat er 15 Jahre als Unternehmensberater und in Management-Funktionen die strategische Neuausrichtung, Unternehmenszusammenschlüsse und Transformation internationaler Banken und Finanzdienstleister mitgestaltet, bis Anfang 2014 als Principal der Eurogroup Consulting in Frankfurt.

Inhaltsangabe

Preface5 Content9 List of abbreviations12 List of mathematical and economic variables13 1 Microeconomics, competition and strategic behaviour17 1.1 Microeconomics between empirical research, theory and experiments18 1.2 Markets, demand and supply25 1.3 Price elasticity and marginal revenues38 1.4 Summary and key learnings48 Recommendations for further reading48 Questions for review49 Literature49 2 Customer behaviour, products and network effects53 2.1 Customer behaviour and decisions on demand54 2.2 Market delineation and product categories66 2.3 Network effects and multisided markets83 2.4 Summary and key learnings94 Recommendations for further reading94 Questions for review 95 Literature95 3 Decisions under risk and behavioural economics101 3.1 Decisions under risk and uncertainty102 3.2 Bounded rationality and behavioural economics116 3.3 Summary and key learnings131 Recommendations for further reading131 Questions for review132 Literature133 4 Firms, competition and innovation139 4.1 Firms, objectives and strategies140 4.2 Competitive advantage, market structure and firm-specific capabilities151 4.3 Competition and innovation165 4.4 Summary and key learnings179 Recommendations for further reading180 Questions for review180 Literature181 5 Firm size, technology and decisions on production187 5.1 Production function and technology189 5.2 Short run decisions: diminishing marginal product and productivity194 5.3 Long run decisions: technical progress and returns to scale201 5.4 Summary and key learnings211 Recommendations for further reading212 Questions for review212 Literature213 6 Costs, restructuring and M&A215 6.1 Cost functions, decisions and competitiveness216 6.2 Short run decisions: Fixed costs and marginal costs220 6.3 Long run decisions: adjusting cost structures225 6.4 Cost-based competitive advantage and M&A235 6.5 Summary and key learnings245 Recommendations for further reading246 Questions for review246 Literature247 7 Perfect competition, monopoly and competition policy249 7.1 Decisions of a firm under perfect competition250 7.2 Producer and consumer surplus as a measure of economic welfare258 7.3 Monopoly and dominant firms263 7.4 Restraints of competition, competition policy and competition authorities271 7.5 Summary and key learnings287 Recommendations for further reading287 Questions for review288 Literature288 8 Pricing strategies and price discrimination293 8.1 Forms and requirements of price discrimination294 8.2 Direct price discrimination and market segmentation296 8.3 Indirect price discrimination and two-part tariffs302 8.4 Bundling310 8.5 Auctions316 8.6 Summary and key learnings321 Recommendations for further reading322 Questions for review322 Literature323 9 Strategic decision-making and game theory327 9.1 Nash equilibria in simultaneous games330 9.2 Risk aversion and mixed strategies342 9.3 Sequential decisions and commitment348 9.4 Summary and key learnings354 Recommendations for further reading355 Questions for review355 Literature356 10 Strategic competition in oligopoly359 10.1 Capacity decisions and strategies in Cournot competition362 10.2 Sequential decisions and strategies under Stackelberg competition374 10.3 Pricing decisions and strategies in Bertrand competition378 10.4 Strategic competition with product differentiation385 10.5 Relevance for competitive strategies394 10.6 Summary and key learnings397 Recommendations for further reading398 Questions for review398 Literature400 Index403

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Preface5Content9List of abbreviations12List of mathematical and economic variables131 Microeconomics, competition and strategic behaviour171.1 Microeconomics between empirical research, theory and experiments181.2 Markets, demand and supply251.3 Price elasticity and marginal revenues381.4 Summary and key learnings48Recommendations for further reading48Questions for review49Literature492 Customer behaviour, products and network effects532.1 Customer behaviour and decisions on demand542.2 Market delineation and product categories662.3 Network effects and multisided markets832.4 Summary and key learnings94Recommendations for further reading94Questions for review 95Literature953 Decisions under risk and behavioural economics1013.1 Decisions under risk and uncertainty1023.2 Bounded rationality and behavioural economics1163.3 Summary and key learnings131Recommendations for further reading131Questions for review132Literature1334 Firms, competition and innovation1394.1 Firms, objectives and strategies1404.2 Competitive advantage, market structure and firm-specific capabilities1514.3 Competition and innovation1654.4 Summary and key learnings179Recommendations for further reading180Questions for review180Literature1815 Firm size, technology and decisions on production1875.1 Production function and technology1895.2 Short run decisions: diminishing marginal product and productivity1945.3 Long run decisions: technical progress and returns to scale2015.4 Summary and key learnings211Recommendations for further reading212Questions for review212Literature2136 Costs, restructuring and M&A2156.1 Cost functions, decisions and competitiveness2166.2 Short run decisions: Fixed costs and marginal costs2206.3 Long run decisions: adjusting cost structures2256.4 Cost-based competitive advantage and M&A2356.5 Summary and key learnings245Recommendations for further reading246Questions for review246Literature2477 Perfect competition, monopoly and competition policy2497.1 Decisions of a firm under perfect competition2507.2 Producer and consumer surplus as a measure of economic welfare2587.3 Monopoly and dominant firms2637.4 Restraints of competition, competition policy and competition authorities2717.5 Summary and key learnings287Recommendations for further reading287Questions for review288Literature2888 Pricing strategies and price discrimination2938.1 Forms and requirements of price discrimination2948.2 Direct price discrimination and market segmentation2968.3 Indirect price discrimination and two-part tariffs3028.4 Bundling3108.5 Auctions3168.6 Summary and key learnings321Recommendations for further reading322Questions for review322Literature3239 Strategic decision-making and game theory3279.1 Nash equilibria in simultaneous games3309.2 Risk aversion and mixed strategies3429.3 Sequential decisions and commitment3489.4 Summary and key learnings354Recommendations for further reading355Questions for review355Literature35610 Strategic competition in oligopoly35910.1 Capacity decisions and strategies in Cournot competition36210.2 Sequential decisions and strategies under Stackelberg competition37410.3 Pricing decisions and strategies in Bertrand competition37810.4 Strategic competition with product differentiation38510.5 Relevance for competitive strategies39410.6 Summary and key learnings397Recommendations for further reading398Questions for review398Literature400Index403