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Duopolistic Competition Under Risk Aversion And Uncertainty, Michail Chronopoulos, Bert De Reyck, Afzal Siddiqui
Duopolistic Competition Under Risk Aversion And Uncertainty, Michail Chronopoulos, Bert De Reyck, Afzal Siddiqui
Research Collection Lee Kong Chian School Of Business
A monopolist typically defers entry into an industry as both price uncertainty and the level of risk aversion increase. By contrast, the presence of a rival typically hastens entry under risk neutrality. Here, we examine these two opposing effects in a duopoly setting. We demonstrate that the value of a firm and its entry decision behave differently with risk aversion and uncertainty depending on the type of competition. Interestingly, if the leader’s role is defined endogenously, then higher uncertainty makes her relatively better off, whereas with the roles exogenously defined, the impact of uncertainty is ambiguous.
Manufacturing Operations In Europe: Where Do We Go Next?, Arnoud De Meyer
Manufacturing Operations In Europe: Where Do We Go Next?, Arnoud De Meyer
Research Collection Lee Kong Chian School Of Business
Extrapolating from the results of a 10-year INSEAD Survey, the author offers some views on the future for manufacturing in Europe. The model on which the Survey was based indicates that competitive priorities and action plans in manufacturing changed over the 10-year period. Taking lessons from these, the author makes some 'informed guesses' on the future implications for European manufacturers in the form of seven normative features: innovation in the value package; close integration between manufacturing and service; the importance of internationalism; flexible project-based organisation; more integrated management of the value added chain; successful transformation of operational programmes into strategic …