Lecture 4: Will profits in reality be higher or lower than under Cournot?

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

Lecture 3: Further static oligopoly

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

Lecture 2: Basic oligopoly

In this lecture, we start with a game theory refresher, and then we move on to look at Bertrand and Cournot oligopoly. Lecture 2

Lecture 1: Introduction to IO

In this lecture, I give a basic overview of IO, and we do some “revision” of demand curves, profits, welfare and monopoly.

Lecture 1

New year, new course, new textbook

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

    Alternative texts:

    • Jean Tirole, “The Theory of Industrial Organization” 338.6 TIR
    • A little difficult in places.
  • Jeffrey Church and Roger Ware, “Industrial Organisation: A strategic Approach”
  • Hope you enjoy the course.