Aggressive pricing strategies have to go together with innovation for the industry leader if it wants to stay the leader. It’s like a strategic one-two punch.LOUIS A. THOMAS - Associate Professor, The Wharton School, University of Pennsylvania
MLK Visiting Professor 1997-1998
Hosted by the Sloan School of Management
Louis Thomas is an Associate Professor at the Wharton School, University of Pennsylvania. At the time of his MIT appointment, he was an assistant professor. Research interests: competitive strategy, game theory, industrial organization economics.
This is an advanced course in competitive strategy. The course will apply the tools of industrial organization economics and game theory to examine the strategic decisions that managers make. We will examine those decisions concerning pricing, capacity investment, advertising, new product introductions, and research and development. Emphasis will be placed on the strategic interaction among rival sellers. In particular we will look at the various methods of entry deterrence and strategic commitment. The course will attempt to integrate traditional economic models with case study materials.
MGMT211001 ( Syllabus )
This is a course in analyzing competitive interactions. The course emphasizes a vision of strategy in which each competitor simultaneously chooses its strategy, taking into account the strategies of its opponents. Crucial to this vision is the anticipation of the moves of your opponent and, in particular, the expectation that your opponent is (almost) as smart as you are. Equal attention will be given to the development of techniques for analyzing competitive interactions and to the application of those techniques. Game theory and the economics of industrial organization provide the basis for the theoretical constructs developed in the course. Topics that will be explored include: market failures and profitability, competitive bidding, signaling, entry deterrence, agenda setting, regulations, and price wars.
MGMT711001 ( Syllabus )
The purpose of this course is to develop students' abilities to apply game theory to decision making. Development of the tools of game theory and the application of those tools is emphasized. Game theory has become an important tool for managers and consultants in analyzing and implementing tactical as well as strategic actions. This course will primarily focus on examples useful for developing competitive strategy in the private sector (pricing and product strategy, capacity choices, contracting and negotiating, signaling and bluffing, takeover strategy, etc.). Game theory can also be used to address problems relevant to a firm's organizational strategy (e.g., internal incentives and information flow within a firm) and to a firm's non-market environment (e.g., strategic trade policies, litigation and regulation strategy).
Louis A. Thomas is an Associate Professor at the Wharton School, University of Pennsylvania. At the time of his MIT appointment, he was an assistant professor. His research interests are competitive strategy, game theory, and industrial organization economics.
Dr. Thomas earned his BA (1986) from Yale University. He holds both an AM (1990) and a PhD in Business Economics (1992) from Harvard University.
Prior to teaching, he briefly worked as an Associate at McKinsey & Co. (1988) and at Booz, Allen & Hamilton (1991-1992).
In 1994, Dr. Thomas joined the faculty at Wharton as the Whitney M. Young Jr. Assistant Professor of Management and has been teaching there since.
Dr. Thomas also teaches at the Indian Business School (ISB), where he was nominated Professor of the Year by the Class of 2013 for exceptional mentorship, for his teaching of ISB’s popular ‘Economics of Strategy’ course—and, according to one student, for his “sheer brilliance, razor-sharp logic and unmatched sense of humour”.
As an MLK Scholar at MIT, Dr. Thomas was hosted by The Sloan School of Management.