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: Will profits in reality be higher or lower than under Cournot?
In this lecture, I give a basic overview of IO, and we do some “revision” of demand curves, profits, welfare and monopoly. Lecture 1
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: Oz Shy: “Industrial organization: Theory and applications” (338.6 SHY) “Goldilocks” level difficulty (I hope). Alternative texts: Jean Tirole, “The Theory of Industrial […]