Question

• Find a recent article that discusses either oligopoly and/or game theory and how it relates to a real life situation (the article should be no older than 5 years) and prepare a 1-2 page summary of the article (include in text citations and References).
• Along with this summary, prepare 2-3 discussion questions for peers to answer

Answer 1

oligopoly is nothing but a market structure with a small number of firms and none of which can keep the others from having significant influence,in other words, oligopoly is two or more firms. the major characteristics of oligopoly can be seen below

few sellers

barriers to entry

interdependence

prevalent advertising

oligoply is highly advantegous as it can provide an highly competitive market

a few days back as i was goinf through newspaper i found an interesting article about oligopoly and it impact in present day scenario,as the markets are becoming more global nowadays, the more markets are going in the path of oligopoly.here are some of the examples of oligopoly

steel industry

television

gas

aluminium

cell phone

there re also disadvantage to oligopoly as the number of firms increase it becomes momopolistic competition as it has a substantial degree of market control

here are some of the questions i would like to ask the students.

does the oligopoly is beneficial in all the markets or is it country specific?

what changes you would recommend to make oilgopoly more profitable for all the involved?