RECENT ADVANCES IN OLIGOPOLY THEORY FROM A GAME THEORY PERSPECTIVE

Abstract. This paper surveys the contribution that recent developments in game theory have made to the understanding of oligopoly theory. It is argued that conventional models suffer from the problem that there are a number of solution concepts offered with little guidance as to which should be selected, and this is related to the static nature of the models employed. One important development in game theory has been the analysis of repeated games, and when applied to oligopoly theory this suggests that outcomes may be more cooperative than conventional theory suggests. Related to this is the requirement that firms employ credible threats to punish cheating from cooperative outcomes, and the paper examines the extent to which imperfect information may restrict the scope of firms to employ such punishments. One way in which firms may seek to make threats credible is through strategic investments, for example in production capacity, and the paper explores how competition over price or output is integrated with competition over instruments for strategic investment.     

MACROECONOMIC THEORY AND POLICY

Books reviewed in this article:
Olivier Jean Blanchard and Stanley Fischer (1989) Lectures on Macroeconomics.
Keith Cuthbertson and Mark P. Taylor (1987) Macroeconomic Systems.
Andrew Stevenson, Vinantonio Muscatelli and Mary Gregory (1988) Macroeconomic Theory and Stabilisation Policy.     

投资择偶论

市场经济，商潮滚滚，很多中小投资者已不满足于将收入用于消费，而是把部分积蓄投入到各种投资市场。个人投资的方式或渠道如今越来越多。个人投资者如何根据不同的背景条件选择最适合的投资项目呢?     

DECISION THEORY UNDER AMBIGUITY

Abstract We review recent advances in the field of decision making under uncertainty or ambiguity. We start with a presentation of the general approach to a decision problem under uncertainty, as well as the ‘standard’ Bayesian treatment and issues with this treatment. We present more general approaches (Choquet expected utility, maximin expected utility, smooth ambiguity and so forth) that have been developed in the literature under the name of models of ambiguity sensitive preferences. We draw a distinction between fully subjective models and models incorporating explicitly some information. We review definitions and characterizations of ambiguity aversion in these models. We mention the challenges posed by some of the models presented. We end with a review of part of the experimental literature and applications of these models to economic settings.     

SOCIAL STATUS IN ECONOMIC THEORY

Abstract.  Social distinction or status is an important motivation of human behaviour. This paper provides a selective survey of recent advances in the economic analysis of the origins and consequences of social status concerns. First, a selection of empirical research from a variety of scientific disciplines is discussed to underpin the further theoretical analysis. I then consider the origins and determinants of tastes for status, discuss the endogenous derivation of such preferences for relative standing and assess the different formalizations of these preferences. Subsequently, the consequences of preferences for status are studied for a variety of problems and settings. The last section discusses a number of implications of status concerns for normative economics and public policy.     

中小企业管理新论

中小企业生存和发展的掣肘 当前中小企业的发展面临着诸多问题.中小企业的无个性,造成中小企业这个群体内部行业布局、产品结构严重失控、产品重合度奇高,造成目前市场上绝大部分产品供过于求的态势.     

RECENT TEXTBOOKS ON GAME THEORY

Book reviewed in this article:
Binmore, K. (1992) Fun and Games, A Text on Game Theory
Fudenberg, D. and J. Tirole (1991) Game Theory
Gibbons, R. (1992) A Primer in Game Theory
Myerson, R. B. (1991) Game Theory, Analysis of Conflict
Rasmusen, E. (1989) Games and Information, An Introduction to Game Theory     

本土企业管理经

柳传志:管理房屋论柳传志对管理的总结,语言简洁明了,但却切中问题的要害,发人深省。“你先给他一块布裁鞋垫儿,裁好了再给他一块布去学做西服,这样才能让人感觉到他的真实才干。”这些再简单不过的大白话,却道出了企业人才培养的真谛。“领军人物好比是阿拉伯数字中的1,有了这个1,带上一个0,它就是10,两个0就是100,三个0是1000。”如此概括企业管理核心人才的特质,要比各种管理理论对领导者素质的描述更形象直观。企业界耳熟能详的“建班子,定战略,带队伍”是柳传志经营联想多年的经验结晶。而今他又有新论:管理就像房屋的结构。屋顶是价值…     

CONJECTURAL VARIATIONS AND LOCATION THEORY

ABSTRACT. Imperfectly competitive markets, such as those involving spatial separation of producers and consumers are characterized by interactions between competing firms. Actions call forth reactions and the possible reactions form an important part of the information set that should be used to determine the initial actions. One method for dealing with this is the 'conjectoral variation' approach. Despite some shortcomings this methodology sheds considerable light on decision-making in the space economy. Equally importantly, it sheds light on more general microeconomies modelled as spatial analogs. This paper shows that conjectural variations and the nature of competition between rival firms do indeed 'matter' in location choice and more generally in product design. In particular, we shall be concerned with showing how the conjectured responses of rival firms affect their desire to agglomerate.     

卖报中的营销学

每天坐35路车上下班,车站总有一个卖报纸的老汉。老汉穿着整洁,看上去精神矍铄,而且每天的生意好像都不错。有一天下班时间不算晚,我买了他一份杂志,便和他闲聊了起来。“老师傅,生意不错吧!”“嗯,还可以,过得去吧!”“看您成天忙忙碌碌的,收成一定不错吧!”“呵呵,还不错吧!反正养老婆和供孩子读书基本没问题了!姑娘,别看我普普通通,我家女儿可是在南大读书哩!学费贵着哩!”“哟,老师傅,您真行啊!一般人可没您这么大能耐呢!”“呵呵,姑娘你可真会说话。不过你倒没说错,我吧,不动不摇,一个月4000块是没有问题的啦!”老汉打开了话匣子,和我…     

THEORY, POLICY AND ARROW

Books reviewed in this article:
George R. Feiwel (ed.) Arrow and the Ascent of the Modern Economic Theory.
George R. Feiwel (ed.) Arrow and the Foundations of the Theory of Economic Policy.     

THE THEORY OF WARRANTY CONTRACTS

Abstract. This paper surveys theories of the existence and design of warranty contracts. Insurance, signalling, and incentive motives are used to explain the existence of warranties. The incorporation of imperfections that prevent warranties from serving their basic purposes in a first-best way describes actual warranty practices.