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Biform Games

  • Adam Brandenburger


    (Stern School of Business, New York University, 44 West Fourth Street, New York, New York 10012)

  • Harborne Stuart


    (Graduate School of Business, Columbia University, 3022 Broadway, New York, New York 10027)

Both noncooperative and cooperative game theory have been applied to business strategy. We propose a hybrid noncooperative-cooperative game model, which we call a biform game. This is designed to formalize the notion of business strategy as making moves to try to shape the competitive environment in a favorable way. (The noncooperative component of a biform game models the strategic moves. The cooperative component models the resulting competitive environment.) We give biform models of various well-known business strategies. We prove general results on when a business strategy, modelled as a biform game, will be efficient.

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Article provided by INFORMS in its journal Management Science.

Volume (Year): 53 (2007)
Issue (Month): 4 (April)
Pages: 537-549

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Handle: RePEc:inm:ormnsc:v:53:y:2007:i:4:p:537-549
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  1. Ray, Debraj & Vohra, Rajiv, 1997. "Equilibrium Binding Agreements," Journal of Economic Theory, Elsevier, vol. 73(1), pages 30-78, March.
  2. Lester G. Telser, 1994. "The Usefulness of Core Theory in Economics," Journal of Economic Perspectives, American Economic Association, vol. 8(2), pages 151-164, Spring.
  3. Grossman, Sanford J & Hart, Oliver D, 1986. "The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration," Journal of Political Economy, University of Chicago Press, vol. 94(4), pages 691-719, August.
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  5. Andrew Postlewaite & Robert W. Rosenthal, 1973. "Disadvantageous Syndicates," Discussion Papers 40, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  6. Hart, Oliver D. & Moore, John, 1990. "Property Rights and the Nature of the Firm," Scholarly Articles 3448675, Harvard University Department of Economics.
  7. Lewis Makowski & Joseph Ostroy, 2010. "Appropriation and Efficiency: A Revision of the First Theorem of Welfare Economics," Levine's Working Paper Archive 1386, David K. Levine.
  8. Adam M. Brandenburger & Harborne W. Stuart, 1996. "Value-based Business Strategy," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 5(1), pages 5-24, 03.
  9. Shapley, Lloyd S. & Shubik, Martin, 1969. "On market games," Journal of Economic Theory, Elsevier, vol. 1(1), pages 9-25, June.
  10. Kreps, David M., 1990. "Game Theory and Economic Modelling," OUP Catalogue, Oxford University Press, number 9780198283812, December.
  11. Stuart, Harborne Jr, 1997. "The supplier-firm-buyer game and its m-sided generalization," Mathematical Social Sciences, Elsevier, vol. 34(1), pages 21-27, August.
  12. Glenn MacDonald & Michael D. Ryall, 2004. "How Do Value Creation and Competition Determine Whether a Firm Appropriates Value?," Management Science, INFORMS, vol. 50(10), pages 1319-1333, October.
  13. Carl Shapiro, 1989. "The Theory of Business Strategy," RAND Journal of Economics, The RAND Corporation, vol. 20(1), pages 125-137, Spring.
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