Summary: Jason Welker's plan. Two-Minute Drill.
An interactive plan for teaching oligopoly behavior is here.
Did you know that "oligopoly" comes from a Greek root meaning "few"? Usually, an oligopoly market is taught with four firms sharing the market or few firms. When teachers teach game theory, these use a duopoly, or two firms.
After reviewing the plan linked above, I have two questions. 1. What is a prisoner's dilemma? Would the game between Starbucks and SF Coffee be a prisoner's dilemma if it looked like the payoff matrix shown in here?
About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, Iowa.
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