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Course Summary

Course Summary. Key Issues in Strategic Reasoning. Timing Matters. Sequential versus Simultaneous Moves Look forward, reason back Eliminate then dominate Mutual best responses When do I want to move?. Key Ideas. Commitment Keep rivals off balance Leverage the future Extract information.

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Course Summary

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Presentation Transcript

  1. Course Summary Key Issues in Strategic Reasoning

  2. Timing Matters • Sequential versus Simultaneous Moves • Look forward, reason back • Eliminate then dominate • Mutual best responses • When do I want to move?

  3. Key Ideas • Commitment • Keep rivals off balance • Leverage the future • Extract information

  4. Recipe for Thinking Strategically • Project rival’s strategy • Best respond • Reverse roles • Iterate

  5. Strategy in Practice • Changing the “game” • ROFR clauses • Arbitration rules • Screening contracts • Agenda control

  6. All the World’s an Auction • The Revenue Equivalence Principle • In auctions • In lobbying • In allocating resources within a firm • In competing for price sensitive consumers • In brinkmanship situations • Setting a reserve price • Avoiding the “Winner’s Curse”

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