This Master’s thesis deals with the application of cooperative game theory for solving the problems of Cournot's oligopolies. The knowledge of oligopoly theory and game theory has been elaborated to build a model describing the behavior of companies at a market that meets the preconditions of Cournot's oligopoly. The definition of cooperative game is based on the -characteristic function, which takes into account, compared to classical methods, that companies which are not in the coalition are pursuing their own profits, not suppressing coalition positions. The properties of the resulting cooperative games are examined in detail, focusing on monotony and convexity. Several theorems about these properties have been derived and their economic interpretations are given. Also, the question of calculation of the -characteristic function using the best-reply dynamics algorithm is being solved, and its convergence for a given type of games is justified. The model is applied to data from the oil market, which is further characterized by the results of the cooperative game.

Tato práce se zabývá současnými trendy v aplikaci teorie her k tvorbě ekonomických modelů, které se následně využívají při ekonomickém rozhodování s podporou prostředků informatiky. Práce se zejména opírá o poznatky teorie statických a dynamických her a her s dokonalými a nedokonalými informacemi. Zkoumány jsou modely týkající se sdílení zdrojů, aukcí a managementu. Pro každý z popsaných modelů je prezentována konkrétní aplikace.

La concentración bancaría es la posición de dominio de algunos bancos que manejan el mercado cuya capacidad de contorl se extiende a un importante porcentaje de los depósitos y las colocaciones del mercado financiero en el que operan, lo que genera distorsiones en el mercado por la afectación en las tasas de interés y el acceso al crédito. Debido a la importancia que tienen las concentraciones, esta investigación busca determinar si la concentración bancaria genera o facilita el acceso al crédito y el desarrollo del entorno macroeconómico. En un primer momento, se ha explicado la diferenciación entre las concentraciones públicas o privadas, variedad que responde a sus objetivos y naturaleza de ser: mientras que las privados tienden a buscar beneficios económicos, aquellas controladas por el Estado tienden a masificar el acceso al crédito. En el segundo capítulo, se ha desarrollado cómo estos grupos de poder buscan la creación de oligopolios mediante integraciones verticales y horizontales con el fin de controlar el mercado. En el tercer capítulo, se ha profundizado en el rol que cumplen los entes reguladores como las superintendencias y los bancos de reserva para fijar parámetros que conserven la estabilidad del sistema financiero a través de normas de cumplimiento de ratios de solvencia y límites legales para las colocaciones. En el cuarto capítulo, se ha dado alcances sobre cómo las supervisoras controlan los seguros de depósitos y morosidad para asegurar la sostenibilidad de los depósitos de los ahorristas. En un quinto momento, se ha desarrollado cómo los contextos de concentración bancaria pueden o no determinar las tasas de interés del sistema financiero en el que operan. Por último, se ha explicado cómo el entorno macroeconómico influye en el sistema financiero y viceversa, las crisis financieras afectan el valor de los bonos soberanos y las tasas de interés interna. / Banking concentration is the dominant position of some banks that manage the market and whose capacity of control extends to an important percentage of the deposits and placements of the financial market in which they operate. Its participation could generate distortions in the market by affecting interest rates and access to credit. Due to the importance of concentrations, this paper requires to determine whether bank concentration generates or facilitates access to credit and the development of the macroeconomic environment. First, it has explained the differentiation between public and private concentrations, a variety that responds to their objectives and nature: while the private ones tend to seek economic benefits, those controlled by the State tend to massify access to credit. In the second section, this research has developed how these power groups seek to create oligopolies through vertical and horizontal integrations in order to control the market. In the third section, the role played by regulatory agencies such as superintendencies and reserve banks in setting parameters to maintain the stability of the financial system through solvency ratio compliance standards and legal limits on loans was discussed in greater depth. In the fourth section, it has been explained how supervisory agencies control deposit and delinquency insurance to ensure the sustainability of savers' deposits. In the fifth section, the paper has developed how banking concentration contexts may or may not determine the interest rates of the financial system in which they operate. Finally, it has been explained how the macroeconomic environment influences the financial system and vice versa, financial crises affect the value of sovereign bonds and domestic interest rates. / Trabajo de Suficiencia Profesional

This thesis aims to conduct a market analysis of the Swedish grocery retail market, with a primary focus on the current market competition and strategic choices. The market analysis is done in order to investigate whether insufficient competition is a contributing factor to the high food prices today. Furthermore, the essay aims to identify and evaluate the strategies used by market players. The market analysis has been conducted by using the Structure-Conduct-Performance model as a theoretical framework to map out and analyse the market's structure, strategy, and outcomes. Over the past year, the prices of groceries have increased drastically, resulting in significant media coverage of the market. The high prices, combined with the timeliness of the topic, justifies the choice of the essay’s subject. The methodology used in the essay is a combination of qualitative and quantitative methods. The market structure is analysed for two different years, 2012 and 2021, in order to enable the evaluation of the firms’ strategic choices. In the thesis’ conclusion, it is stated that the Swedish grocery retail sector is an oligopoly market with high market concentration, where the three largest firms account for 90 percent of the market shares. The market structure is a result of the underlying demand and the barriers of entry identified in the thesis. The strategies processed in the thesis are vertical integration, customer bonus systems, mergers and acquisitions, and price strategies. The evaluated strategic choices of the companies are deemed effective for increasing their market power, while also inhibiting competition and making market entry difficult. Because of this, the market outcome is considered not to be fully functional from a welfare perspective. Furthermore this study allows the assumption to be made that the current competitive situation is a contributing factor to today's high food prices. / Uppsatsen syftar till att göra en marknadsanalys av svensk dagligvaruhandel, med stort fokus på den rådande konkurrenssituationen. Detta görs för att utreda huruvida bristfällig konkurrens är en bidragande orsak till dagens höga matpriser eller inte. Vidare syftar uppsatsen till att kartlägga samt utvärdera de strategier som marknadens aktörer använder sig av. Marknadsanalysen har genomförts med Structure-Conduct-Performance-modellen som teoretisk grund för att kartlägga samt analysera marknadens struktur, strategi och utfall. Priserna på dagligvaror har under det senaste året ökat drastiskt, vilket har resulterat i att marknaden har getts stort medialt utrymme. De höga priserna i kombination med ämnets aktualitet motiverar valet av uppsatsämne. Metodvalet i uppsatsen är en kombination av kvalitativ och kvantitativ metod. Marknadsstrukturen undersöks för två olika år, 2012 och 2021, med anledning att möjliggöra utvärdering av aktörernas strategival. I uppsatsens slutsats konstateras det att den svenska dagligvaruhandeln är en oligopolmarknad med hög marknadskoncentration där de tre största aktörerna står för 90 procent av andelarna på marknaden. Marknadsstrukturen är ett resultat av den grundläggande efterfrågan som finns, samt de etableringshinder som identifierats i uppsatsen. De strategier som behandlas i uppsatsen är vertikal integration, kundbonussystem, fusioner och förvärv samt prissättningsstrategi. Dessa strategival utvärderas som effektiva vad gäller utökandet av aktörernas marknadsmakt, samtidigt som de hämmar konkurrens och försvårar för nyetablering på marknaden. Detta leder till att marknadens utfall inte ses vara helt välfungerande utifrån ett välfärdsperspektiv. Efter genomförandet av denna studie görs dessutom antagandet att den rådande konkurrenssituationen är en bidragande orsak till dagens höga matpriser.

Background: In the era of emerging technology and services new constructions of value exchanges are made. The continuous value trade is a vital part of the service ecosystem with stakeholders ranging from platforms to the planet on a larger scale. Product service systems (PSS) emphasize the use of the product rather than just the sale, when combining products and services. PSS also focuses on the proliferation of the product which makes it a sustainable practice as fewer new machines are needed. The business models of PSS are linked to the strategies of oligopoly firms, where differentiation yields competitive advantages Purpose: The thesis aims to analyze the conditions for introducing services to products based on the opinions of decision-makers in the construction industry. Methods: In the study, semi-structured interviews with the customers of the construction equipment firms were carried out. The method aimed to identify recurring themes to generate results that are stronger when combined than the individual answers. Results: The candidates perceived value in adding services to products concerning accessibility and versatility. Since the industry is changing, the candidates highlighted the need to adapt and saw services aiding the transition. Services and digitization could potentially increase the attractiveness of firms, both the companies and their customers. For the candidates to use the service it would need to provide values that include: Flexibility, Accessibility, Differentiation, Communication, Relations, Sustainability, Visualization, Documentation, and Adaptability Conclusions: PSS expands upon the usability of products, and using services to differentiate from competitors can lock in customers. However, as there are many services available, communication of these becomes crucial to maximize the utilization of the competitive advantage that the service aims to provide. / Bakgrund: I en era av framväxande teknologi och tjänster skapas nya konstruktioner av värdeutbyten. Det kontinuerliga värdeutbytet är en viktig del av tjänstekosystemet med intressenter som sträcker sig från plattformar till planeten i stort. Produkttjänstesystem (PSS) betonar användningen av produkten snarare än bara försäljningen när man kombinerar produkter och tjänster. PSS fokuserar också på produktens spridning vilket gör det till en hållbar praxis då färre nya maskiner behövs. PSS affärsmodeller är kopplade till strategierna hos oligopol företag, där differentiering ger konkurrensfördelar Syfte: Studien syftar till att analysera förutsättningarna för att introducera tjänster till produkter baserat på åsikter från beslutsfattare inom byggbranschen. Metod: I studien genomfördes semi-strukturerade intervjuer med kunder till företag som tillhandahåller byggutrustning. Metoden syftade till att identifiera återkommande teman för att generera resultat som är tydligare när de kombineras än de individuella svaren. Resultat: Kandidaterna visade ett upplevt värde i att lägga till tjänster till pro-dukter när det gäller tillgänglighet och mångsidighet. Eftersom branschen förändras betonade kandidaterna behovet av att anpassa sig och såg tjänster som en hjälp I den tekniska övergången. Tjänster och digitalisering skulle potentiellt kunna öka attraktiviteten för företagen, både för företagen själva och deras kunder. För att kandidaterna ska använda tjänsten skulle den behöva tillhandahålla värden som inkluderar: Flexibilitet, Tillgänglighet, Differentiering, Kommunikation, Relationer, Hållbarhet, Visualisering, Dokumentation och Anpassningsförmåga. Slutsatser: PSS utökar användbarheten hos produkter, och att använda tjänster för att differentiera sig från konkurrenter kan få kunderna att stanna kvar. Dock, eftersom det finns så många tjänster tillgängliga, blir kommunikationen av dessa avgörande för att maximera utnyttjandet av den konkurrensfördel som tjänsten syftar till att skapa

Die kumulative Dissertation beschäftigt sich mit stochastischen und deterministischen dynamischen Verkaufsmodellen für langlebige sowie verderbliche Güter. Die analysierten dynamischen Modelle sind durch die Möglichkeit der simultanen Variation von Preis und Werbung in stetiger Zeit charakterisiert und folgen den aktuellen Entwicklungen der Dynamischen Preissetzung. Dabei steht die Berücksichtigung und Analyse von (i) Zeitinhomogenitäten, (ii) Adoptionseffekten, (iii) Oligopolwettbewerb und (iv) der Risikoaversion des Entscheiders im Zentrum der Arbeit. Für die Spezialfälle isoelastischer und exponentieller Nachfrage in Verbindung mit isoelastischer Werbewirkung gelingt es explizite Lösungen der optimalen Preis- und Werbekontrollen herzuleiten. Die optimal gesteuerten Verkaufsprozesse können analytisch beschrieben und ausgewertet werden. Insbesondere werden neben erwarteten Preis- und Restbestandsentwicklungen auch assoziierte Gewinnverteilungen untersucht und Sensitivitätsresultate hergeleitet. Darüber hinaus wird analysiert unter welchen Bedingungen monopolistische Strategien sozial effizient sind und welche Besteuerungs- und Subventionsmechanismen geeignet sind um Effizienz herzustellen. Die Ergebnisse sind in sechs Artikel gefasst und bieten ökonomische Einsichten in verschiedene praktische Verkaufsanwendungen, speziell im Bereich des elektronischen Handels. / The cumulative dissertation deals with stochastic and deterministic dynamic sales models for durable as well as perishable products. The models analyzed are characterized by simultaneous dynamic pricing and advertising controls in continuous time and are in line with recent developments in dynamic pricing. They include the modeling of multi-dimensional decisions and take (i) time dependencies, (ii) adoption effects (iii), competitive settings and (iv) risk aversion, explicitly into account. For special cases with isoelastic demand functions as well as with exponential ones explicit solution formulas of the optimal pricing and advertising feedback controls are derived. Moreover, optimally controlled sales processes are analytically described. In particular, the distribution of profits, the expected evolution of prices as well as inventory levels are analyzed in detail and sensitivity results are obtained. Furthermore, we consider the question whether or not monopolistic policies are socially efficient; in special cases, we propose taxation/subsidy mechanisms to establish efficiency. The results are presented in six articles and provide economic insights into a variety of dynamic sales applications of the business world, especially in the area of e-commerce.

中游廠商面臨產業結構屬於獨寡占的上游廠商，兩者之間由於中游的經濟規模小於上游形成不對稱組織交易，再者中游廠商與上游存在依賴關係，前者需要後者提供原物料或技術服務以滿足下游顧客需求。本研究利用策略行銷成本架構(4C analysis)，並針對國內各大產業之中介廠商為研究對象，包含電機機械通路產業、半導體設計製造業以及旅遊資訊服務業等產業進行深度訪談。此獨寡占上游─中游─下游情境中，分別解釋產業鏈中的從屬關係。 首先是權力處於相對弱勢的中游廠商與上游的交易關係：中游廠商看似被上游供應商套牢陷入的狀況，但除了存在專屬陷入成本外，影響該交易關係尚存在外顯單位效益成本以及道德危機成本。接著，中游廠商為了與上游持續交易的目的下，採取的策略成本選擇為降低外顯單位效益成本，以及提高上游廠商對於中游的專屬陷入成本以達到與上游持續交易的目的，另一方面，順應此不利環境下，中游廠商滿足下游需求的做法有降低外顯單位效益成本、資訊搜尋成本、道德危機成本以及提高專屬陷入成本的方式。最後一部分為中游為減少對上游廠商的依賴，對於上游或下游投資抵銷性資產，使中游廠商提高本身的議價能力，對於上游廠商的依賴程度獲得減緩。 / In comparison to monopoly or oligopoly up-stream suppliers, mid-stream firms has smaller scale in terms of revenue, the transaction between the two can be described as asymmetric interorganizational relationship. Besides, the mid-stream firms depend on its supplier for key material or services, in order to fulfill the demand of their down-stream customers. This study focus on the monopoly/oligopoly upstream supplier to mid-stream firms to down-stream customer chain, interviewing mid-stream firms in different industries including dealer in electrical machinery industry, semi-conductor industry and tour agent and delve into the relationships between these characters by 4C analysis structure. First of all, the study took a closer look at the relationship between the mid-stream firms and their suppliers; the formers have an inferior bargaining power position and seemed being locked up by the latters, as known as cost of asset-specificity. But we also found that over cost per utility and cost of moral hazard would also be considered by the mid-stream firms. The mid-streams took some actions in order to assure the continuous cooperation with the suppliers, and under this circumspect they will also make efforts to save down-stream customers. We found that the 4C analysis can explain the strategies taken by those mid-stream firms. Finally, the mid-streams would like to reduce the control of the up-streams, so they would put resources in establishing offsetting investments to accumulate their bargaining power to the suppliers, to mitigate the dependence.

This dissertation investigates the relationship of competition and firms' price responses, by analyzing: i) whether new entry reduces price discrimination, ii) when incumbents reduce price discrimination preemptively in response to the threat of entry, and iii) how competition increases prices. The dissertation consists of three independent essays addressing each of the above questions. The first two essays present an empirical analysis of the airline industry and the third essay presents a theoretical analysis of the credit card industry. In the empirical study of the relationship between competition and firms' pricing in the airline industry, I emphasize the importance of distinguishing the equilibrium behaviors with respect to different market characteristics. Major airlines can price discriminate differently in a market where they compete with low-cost carriers comparing to in another market where they don't, and also they can respond dfferently to the threat of entry depending on whether they are certain about the rival's future entry. The study reveals that competition has a positive effect on price discrimination in the routes where major airlines compete against one anther. In these routes, competition reduces lower-end prices to a greater extent than upper-end prices. In contrast, an entry by low-cost carriers results in a significant negative relationship between competition and price discrimination. Thus, the opposite results in the literature are both evident in the airline industry, and it is very important to identify the different forces of competition on price discrimination. Firms can respond to potential competition as well as actual competition. So, I extend the study to the relationship of potential competition and price discrimination, specially in cases where major airlines compete against one another while facing Southwest's threat of entry. I also attempt to suggest major airlines' motives of reducing price discrimination preemptively. The results of the study suggest that incumbents reduce price dispersion when it is possible to deter the rival's entry and that the potential rival discourages incumbents from deterring entry by announcing before its beginning service. Finally, I examine when competition can increase prices in a market, by analyzing the issuing side of the credit card industry. This industry is characterized by a two-sided market with a platform. Under the no-surcharge rule that restricts merchants to set the same price for cash and card purchases, the equilibrium interchange fee increases with competition. This occurs because issuers can compensate losses from competing on the issuing side by collectively increasing the interchange fee. As a result, limiting competition may improve social welfare when the interchange fee is higher than the social optimal level. In contrast, in the absence of the no-surcharge rule, the analysis shows that competition always improves social welfare by lowering the price of the market.

The present paper aims to show that the oligopoly problem is much more determined than commonly believed. In oligopoly prerequisites are likely to prevail inducing a 'normal' behaviour in accordance with profit maximization. This leads to a price combination located at an exactly definable line section. Finally some consequences upon economic policy are outlined. / Dieser Beitrag versucht zu zeigen, daß das Oligopolproblem wesentlich determinierter ist als gemeinhin angenommen. Im Oligopol liegen die Voraussetzungen besonders günstig, daß durch ein aus dem Streben nach Gewinnmaximierung abgeleitetes, "normales" Verhalten eine Preiskombination auf einem exakt abgrenzbaren Kurvenabschnitt zustande kommt. Abschließend werden wirtschaftspolitische Konsequenzen angedeutet.

Η διατριβή χωρίζεται σε δύο μέρη. Στο Μέρος Α' χρησιμοποιούνται μαθηματικές μέθοδοι της Θεωρίας Παιγνίων και των Δυναμικών Συστημάτων για να μελετηθεί η κανονική και χαοτική δυναμική διαφόρων μοντέλων της Μικροοικονομίας. Βασικά αποτελέσματα είναι η μετάβαση σε συνθήκες πλήρους ανταγωνισμού και η διαφοροποίηση του παραγόμενου προιόντος σε ένα δυοπώλιο-τριοπώλιο. Στο Μέρος Β', κύριος στόχος της έρευνας ήταν να συνδεθούν ορισμένες από τις πλέον γνωστές μερικές διαφορικές εξισώσεις (ΜΔΕ) που χρησιμοποιούνται στα Οικονομικά Μαθηματικά και Χρηματοοικονομικά, με την εξίσωση της θερμότητας της Μαθηματικής Φυσικής, εφαρμόζοντας την κατά Lie συμμετρίες ανάλυση. Επίσης η ανάλυση αυτή αποδείχθηκε ιδιαίτερα ισχυρή για την εύρεση αλγεβρικών δομών εξισώσεων που περιγράφουν την τιμολόγηση αγαθών. Έτσι, οδηγούμαστε με συστηματικό τρόπο όχι μόνο στην εύρεση νέων λύσεων αλλά και στην ανακάλυψη κομψών γενικεύσεων των εξισώσεων αυτών. / The thesis is divided into two parts. In Part One we use the mathematical methods of Game Theory and Dynamical Systems to study the stable and chaotic dynamics of various models in Microeconomics. Some of our main results are the route to perfect competition and the differentiation of goods in a duopoly and in a triopoly. In Part Two, our main concern was to link some of the most well-known partial differential equations that are encountered in Economics and Financial Mathematics, with the heat equation of Mathematical Physics, using Lie symmetry analysis. More to that, this analysis proved extremely powerful to the finding of interesting algebraic properties for equations that describe the pricing of commodities. In such way, we succeed in presenting, in a systematic fashion, not only new solutions, but also elegant generalisations of the equations under investigation.