IBS Lunchtime Research Seminar - A Theory of Segmented Markets: Modelling Entrepreneurship in the Global Economy

You are cordially invited to attend an International Business and Strategy Departmental Research Meeting, during which there will be a presentation by Professor Mark Casson, Henley Business School . A reminder that attendance for IBS (full time, research oriented) staff and full-time students is compulsory, and where possible, must be in person. Individuals unable to attend in person, due to legitimate reasons will be provided a Teams link on request. Non-IBS staff are welcome to attend, but must register prior to the event. If you have not received the email invite please email Angie Clark

Please join us in Room 108, Henley Business School, if you would like to attend, please register using the link below:

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Please make sure you let me know in advance if you intend to attend in person so that the correct amount of catering is booked.

Date: Wednesday 26th April 2025, HBS Room 108

Time: 13.00 - 13.30

Abstract:

The paper presents a formal economic analysis of the role of entrepreneurship in coordinating demand and supply in a global market composed of multiple segments. It was shown in a previous presentation to the seminar series that under certain conditions the pattern of trade that emerges in any global market, however complex, can be solved as a linear programming problem. This follow-up presentation shows how the analysis can be extended to inform on a range of international business strategy issues. It clarifies (1) the relationship between internalisation, transaction costs and monopoly power; (2) the role of sunk costs as an entry deterrent in international oligopoly; and (3) shows how the long-run evolution of an international oligopolistic market can be analysed a special type of sequential game.