Peng_Chapter 11

Peng_Chapter 11 - COMPETITIVEDYNAMICS

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COMPETITIVE DYNAMICS competitive dynamics -   actions and responses undertaken  by competing firms competitor analysis -   process of anticipating a rivals’  actions in order to revise a firm’s plan and prepare to deal with  rivals’ responses
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COMPETITION, COOPERATION, AND  COLLUSION collusion  -  collective attempts between competing firms to  reduce competition tacit collusion  -  firms indirectly coordinating actions by  signaling their intention to reduce output and maintain pricing  above competitive levels explicit collusion  -  firms directly negotiating output and  pricing and dividing markets cartel  -  entity that engages in output- and price-fixing  involving  multiple competitors
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Cooperation and Collusion concentration ratio -  percentage of total industry sales  accounted for by the top four, eight, or twenty firms price leader -  firm that has a dominant market share and sets 
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Peng_Chapter 11 - COMPETITIVEDYNAMICS

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