Co‐Operation and Co‐Ordination

John Kay

in Foundations of Corporate Success

Published in print April 1995 | ISBN: 9780198289883
Published online November 2003 | e-ISBN: 9780191718205 | DOI:
 Co‐Operation and Co‐Ordination

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A firm is viewed as a set of relationships among its stakeholders and between itself and other firms. Game theory is used as a stylized way of discussing issues of cooperation through the ‘Prisoner's Dilemma’, of coordination through the ‘Battle of the Sexes’, and of differentiation through the game of ‘Chicken’. Strategic commitment is seen as a means of gaining by limiting one's own options.

Keywords: commitment; cooperation; coordination; corporate strategy; differentiation; firms; game theory; real options; relationships; stakeholders

Chapter.  6828 words.  Illustrated.

Subjects: Microeconomics

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