✦ LIBER ✦

Subgame perfection and the ethics of competition

✍ Scribed by Daniel G. Arce M

Publisher: John Wiley and Sons
Year: 2005
Tongue: English
Weight: 150 KB
Volume: 26
Category: Article
ISSN: 0143-6570
DOI: 10.1002/mde.1239

No coin nor oath required. For personal study only.

✦ Synopsis

Abstract

This paper integrates economics and business ethics through the use of the subgame perfection/backward induction decision rule. It is shown that textbook examples of subgame perfection differ in their ethical complexity. Specifically, predatory pricing is difficult to justify on both game‐theoretic and ethical grounds, whereas ‘poison pill’ takeover defenses have complex economic and ethical ramifications. Further, I employ backward induction to examine two additional areas of ethics and management decision‐making: product recall (the Ford Explorer and Firestone tires), and price versus advertising competition. Copyright © 2005 John Wiley & Sons, Ltd.

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