Showing papers on "Competitive advantage published in 1973"

Economics of the firm: theory and practice

Abstract: Introduction to microeconomic analysis buyers, sellers, firms and markets buyer demand - the cardinal utility model buyer demand - the indifference curve and attribute models demand functions, revenue functions and elasticity production functions and technology determining the conditions for efficient production cost analysis the profit motive and other goals of the firms how markets function - the model of perfect competition how markets function - the case of monopoly how markets function - the model of monopolistic competition how markets function - the many models of oligopoly the economics of firms with multiple prices, plants, products or objectives the five competitive forces competitive advantage how resource markets function general equilibrium - concepts and analysis.

Profit Analyses and Sequential Bid Pricing Models

Abstract: A bid pricing strategy based upon opportunity costs is presented for the firm confronted with the problem of competitively pricing a sequence of sealed tenders for future undifferentiated but interrelated contract work. Each contract, if awarded, will require the expending of predetermined amounts of several restricted resources at a later time. A goal of the bidding strategy is to determine a price structure of the winning bids which maximizes the total contribution over direct costs associated with the time period of resource utilization. According to various levels of complexity of data, several models of the problem are developed together with optimal bid price rules. Each optimal rule involves scarce resource “cost” charges for future opportunities and competitive advantages according to the general bid rule form: OPTIMAL BID PRICE = DIRECT COSTS + OPPORTUNITY COSTS + COMPETITIVE ADVANTAGE FEE. Experiences are also given of an adaptive and conditional implementation of the general bid rule for a major chemical manufacturer in a complex business area where sales orders are determined by competitive bidding.

Methods for handling competition in dynamic market models

Abstract: Reviews various methods for handling competition in dynamic market models. Proposes a research strategy which considers the method in relation to quantitative considerations of market validity and behavioural factors of implementation. Gives a case study where this research strategy is applied.