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In economics and game theory, the decisions of two or more players are called strategic complements if they mutually reinforce one another, and they are called strategic substitutes if they mutually offset one another. These terms were originally coined by Bulow, Geanakoplos, and Klemperer (1985). [1]
An offset strategy consequently seeks to deliberately change an unattractive competition to one more advantageous for the implementer. In this way, an offset strategy is a type of competitive strategy that seeks to maintain advantage over potential adversaries over long periods of time while preserving peace where possible.
Offsets can be defined as provisions to an import agreement, between an exporting foreign company, or possibly a government acting as intermediary, and an importing public entity, that oblige the exporter to undertake activities in order to satisfy a second objective of the importing entity, distinct from the acquisition of the goods and/or services that form the core transaction.
In economics, a complementary good is a good whose appeal increases with the popularity of its complement. [ further explanation needed ] Technically, it displays a negative cross elasticity of demand and that demand for it increases when the price of another good decreases. [ 1 ]
A complementary monopoly is an economic concept. It considers a situation where consent must be obtained from more than one agent to obtain a good. In turn leading to a reduction in surplus generated relative to an outright monopoly, if the two agents do not cooperate.
Major topics include measurement of economic performance, national income and price determination, fiscal and monetary policy, and international economics and growth. AP Macroeconomics is frequently taught in conjunction with (and, in some cases, in the same year as) AP Microeconomics as part of a comprehensive AP Economics curriculum, although ...
In mathematics, a supermodular function is a function on a lattice that, informally, has the property of being characterized by "increasing differences." Seen from the point of set functions, this can also be viewed as a relationship of "increasing returns", where adding more elements to a subset increases its valuation.
Complement (linguistics), a word or phrase having a particular syntactic role Subject complement, a word or phrase adding to a clause's subject after a linking verb; Phonetic complement; Complementary, a type of opposite in lexical semantics (sometimes called an antonym)