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.
In this lecture we go further into the consequences of Bertrand and Cournot competition, and we investigate the links between the two.
In this lecture, I give a basic overview of IO, and we do some “revision” of demand curves, profits, welfare and monopoly.
This year’s course will be very similar to the 2012 one, which you can see by clicking on the links on the left, below the title of this post.
Again, the textbook is:
- “Goldilocks” level difficulty (I hope).
- 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.