In this lecture we try to answer the question: “Will profits in reality be higher or lower than under Cournot?”. We look at the origins of Cournot competition, and analyze collusion in dynamic oligopoly. Lecture 4
In this lecture we go further into the consequences of Bertrand and Cournot competition, and we investigate the links between the two. lecture 3.pdf
In this lecture, we start with a game theory refresher, and then we move on to look at Bertrand and Cournot oligopoly. Lecture 2
In this lecture, I give a basic overview of IO, and we do some “revision” of demand curves, profits, welfare and monopoly.
This course is starting again, and the content of lectures will be a little different this year. But last year’s slides might still be helpful, so I’m leaving them up here.
The textbook for this year is:
- Oz Shy: “Industrial organization: Theory and applications” 338.6 SHY
- “Goldilocks” level difficulty (I hope).
- Google shopping search.
- Jean Tirole, “The Theory of Industrial Organization” 338.6 TIR
- A little difficult in places.
- Not quite right for our course, but it is available for free at: http://works.bepress.com/cgi/viewcontent.cgi?article=1022&context=jeffrey_church
Hope you enjoy the course.