Franklin M. Fisher (1989): Games Economists Play: A Noncooperative View: "As a teacher of mine (probably Carl Kaysen) once remarked some thirty years ago, it may very well be the case that one cannot understand the history of the American rubber tire industry without knowing that Harvey Firestone was an aggressive guy who believed in cutting prices. Maybe so. But then, as someone else (probably Mordecai Kurz or Kenneth Arrow) remarked to me a few years ago, the job of theory is to discover what characteristics of the rubber tire industry made such aggressive behavior a likely successful strategy. Absolutely right. That question would be answered if we had a generalizing theory of oligopoly. As it stands, we are a long way from an answer...


#noted

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