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

In this topic we try to answer the question: “Will profits in reality be higher or lower than under Cournot?”. We begin by reminding ourselves of the origins of Cournot competition, and then go on to analyse collusion in dynamic oligopoly, and repeated games.

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Topic 3: Further static oligopoly

In this topic we go further into the consequences of Bertrand and Cournot competition, and we investigate the links between the two.

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Note that in this class (last year) I made a bit of a mess of the final problem we went through. A worked answer to that problem is available below:

Topic 2: Basic oligopoly

In this topic, we start with a game theory refresher, and then we move on to take a fresh look at Bertrand and Cournot oligopoly.

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Topic 1: Introduction to Industrial Organisation

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

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