경제 용어 실생활 적용 레포트(영문)

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Chapter17-Oligopoly
Chapter 20- Income inequality and poverty
Creative Economy- Declining Industry in Korea

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According to this article, a hostile patent litigation between Apple and Samsung started ever since Apple accused Samsung of copying its designs for smartphones and tablet PCs. In response, Samsung dodged back with patent lawsuits concerning the mobile technology. According to CNET News, this litigation chaos augmented into 50 lawsuits against each other in 10 different countries. Apple became wary of Samsung’s ever-increasing market share of the smartphones and tablet PCs A smartphone or a tablet PC market can be said to be an oligopoly. There is only handful of firms offering the product: Apple, Samsung, HTC, Sony, and so on. As Samsung’s market power is increasing in both the smartphone and tablet PC market, Apple had opened a Pandora’s Box by filing a lawsuit against Samsung, as it was mentioned above. This has triggered the problem of Prisoner’s Dilemma, of which the ‘p_badtagss’ in a ‘game’ chooses the option that makes both of them worse off. In this case, the ‘p_badtagss’ are Apple and Samsung, and the ‘game’ they are playing is the chicken game of patent litigations. If both file a lawsuit, both profits decrease. If one file a lawsuit but the other don’t file a lawsuit, one who files a lawsuit earns more profit and the other who don’t files a lawsuit earn less profit. If both don’t file a lawsuit, both profits are hold. Whatever the opponent chooses to do, the best option for a p_badtags is to file a lawsuit against the opponent. That is, they reach a Nash equilibrium, in which both of them file a lawsuit against each other, making both the firms worse off. They could have achieved the point at which both of them do not file a lawsuit, which is the best scenario for both the companies through collusion. Thus, both firms would realize that this situation is making both of them worse off and that they would sit down at the negotiating table.

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