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Collusions?
Collective attempts between compteing firms to reduce competition.
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Tacit Collusion?
Firms indirectly coordinate actions by signaling their intention to reduce output and maintain pricing above competitive levels.
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Explicit Collusion?
Firms directly negotiate output, fixed pricing, and divide markets.
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Cartel?
An entity that engages in output- and pricing-fixing, involving multiple competitors.
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Antitrust laws?
Laws that attempt to curtail anti-competitive business practices.
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Prisoner's Dilemma?
In game thoery, a type of game in which the outcome depends on two parties deciding whether to cooperate or to detent.
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Game Theory?
A theory that studies the interaction between two parties that compete and/or cooperaqte with eachother.
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Concentration Ratio?
The percentage of total industry sales accounted for by the top four, eight, or twenty films.
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Price Leader?
A firm that has a dominant market share and sets "acceptable" prices and margins in the industry.
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Capacity To Punish?
Suffiecient resources possessed by a price leader to deter and combat defection.
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Market Commonality?
The overlap between two rivals' markets.
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Multimarket Competition?
Firms engage the same rivals in multiple markets.
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Mutual Forebearance?
Multimarket firms respect their rival's spheres of influence in certain markets , and their rivals reciprocate, leading to tacit collusion.
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Cross-Market Retaliation?
The ability of a firm to expand in a competitor's market if the competitor attacksits original market.
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Competition Policy?
Policy governing the rules of the game in competition in a country.
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Antitrust Policy?
Laws designed to combat monopolies and cartels.
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Collusive Price Setting?
Price setting by monopolists or collusion parties at a higher than competitive level.
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Predatory Pricing?
An attempt to monopolize a market by setting prices below cost and intending to raise prices to cover losses in the long run after elimintaing rivals.
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Dumping?
An exporter selling below cost abroad and planning to raise prices after eliminitaing local rivals.
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Resource SImilarity?
The externt to which a given competitor posseses strategic endowments comparable, in terms of both type and amount, to those of the focal firm.
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Attack?
An initial set of actions to gain competitive advantage.
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Counterattack?
A set of actions in response to an attack.
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Thrust?
The classic frontal attack with brute force.
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Feint?
A firm's attack on a focal arena important to a competitor but not the attacker's true target area.
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Gambit?
To withdraw from a low-value maret to attract rivals to divert resources into it and then to capture a high-value market.
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Defender Strategy?
The strategy centers on leveraging local assets in areas where MNE's are weak.
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Extender Strategy?
This strategy centers around leveraging homegrown competencies abroad.
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Dodger Strategy?
This strategy centers on cooperating throughjoint ventures with MNEs and sell-offs to MNE's.
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Contender Strategy?
This strategy centers on a firm engaging in rapid learning and expanding overseas.
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