d game.Know when to cause a building shortageIf you have only low-rent color groups, quickly build three or four houses per property to restrict the availability of houses to owners of high-rent color groups.Never move up to a hotel anywhere if the return of houses to the bank would enable an opponent to develop an expensive color group. (Example: the Yellow group has just been formed. There are only three houses in the bank, but six hotels. You own the light blues with four houses on each. Do not buy hotels. Doing so would give the player owning the Yellows an opportunity to build up to hotels on them.) (Monopoly.com)By buying up the houses you are creating a barrier to entry. It is a barrier even if your opponent has the necessary funds to enter. This is because of the basic economic principal of scarce resources, or as Stephen Slavin calls it in Economics Control over essential resource. (Slavin 541)The game Monopoly is a prime illustration of scarce resources; that is, Theres a limit to the amount we can produce in a given time with available resources. (Schiller 9) The property is limited - Nothing can be done to create more property; you can only build on your property to make it more productive, if the houses or hotels are available. This will increase your economy of scale so you can increase your firm size and ultimately increase your Concentration ratio to the point where you drive everyone out and you own it all. The total amount of money available is $15,140 with each player initially receiving $1500.00As play proceeds it can take on the nature of an Oligopoly Market Structure. An oligopoly is an imperfectly competitive structure in which firms dominate the market (Schiller 517) In the book The Economy Today the author writes of the Game Theory. Because only a few producers participate in the market, each oligopolist has to consider the potential responses of rivals when formulating price or output strategies. This strategic...
