Oligopolistic competition research reveals power dynamics shaping global markets.
The article discusses how companies compete with each other in markets where only a few big players exist. It looks at how these companies set prices and compete in other ways, like improving product quality or marketing strategies. The researchers studied the behavior of oil-producing countries in OPEC to understand how they influence oil prices. They also explored how companies make decisions when faced with uncertainty, like in government contracts. The findings show that in these competitive markets, companies often try to balance their actions to stay competitive and make profits.