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The leader considers what the best response of the follower is, i.e. how it will respond once it has observed the quantity of the leader. The leader then picks a quantity that maximises its payoff, anticipating the predicted response of the follower. The follower actually observes this and in equilibrium picks the expected quantity as a response.
The French edition of Mandel's Late Capitalism was titled The third age of capitalism. [55] In part, Mandel's analysis was a critique of Henryk Grossmann's breakdown theory, according to which capitalism would collapse after a series of business cycles because of insufficient surplus value production. [56]
In law or diplomacy, an intermediary is a third party who offers intermediation services between two parties. In trade or barter, an intermediary acts as a conduit for goods or services offered by a supplier to a consumer, which may include wholesalers, resellers, brokers, and various other services. "Intermediation" refers to a process ...
Pontiac, or formally the Pontiac Motor Division of General Motors, was an American automobile brand owned, manufactured, and commercialized by General Motors.It was originally introduced as a companion make for GM's more expensive line of Oakland automobiles. [3]
In January 2005, Sun reported a net profit of $19 million for fiscal 2005 second quarter, for the first time in three years. This was followed by net loss of $9 million on GAAP basis for the third quarter 2005, as reported on April 14, 2005. In January 2007, Sun reported a net GAAP profit of $126 million on revenue of $3.337 billion for its ...
One of Graham's important allegories is that of Mr. Market, meant to personify the irrationality and group-think of the stock market. Mr. Market is an obliging fellow who turns up every day at the shareholder's door offering to buy or sell his shares at a different price. Often, the price quoted by Mr. Market seems plausible, but sometimes it ...
Symbian has lost market share over the years as the market has dramatically grown, with new competing platforms entering the market, though its sales have increased during the same timeframe. E.g., although Symbian's share of the global smartphone market dropped from 52.4% in 2008 to 47.2% in 2009, shipments of Symbian devices grew 4.8%, from ...
The Global Competitiveness Report (GCR) [1] was a yearly report published by the World Economic Forum.Between 2004 and 2020, [2] the Global Competitiveness Report ranked countries based on the Global Competitiveness Index, [1] developed by Xavier Sala-i-Martin and Elsa V. Artadi. [3]