Issues of Competition
By employing the concept of Nash equilibria of game theory and relevant methods of reasoning on the intuition of systems research, this chapter investigates the dynamics of a coordinately monopolized market with m incumbent risk-neutral firms: how these firms compete for customers who switch from the product of one company to another by adjusting prices; how their expected profits stay stagnant; why their bases of loyal customers deteriorate while customers become less patient than ever before.
Drs. John Buttermore, Theresa Wajda, and Pavani Tallapally of School of Business, Slippery Rock University, Slippery Rock, PA 16057, U.S.A., also participated in the research presented in this chapter.
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