In this lecture we look at R&D, covering:

• What R&D does.
• Whether competition helps or hinders R&D.
• Business stealing and entry deterrence.
• Patent races.
• Policy

Lecture 9

This week we look at advertising, covering:

• Different views on why advertising works.
• Several models and their welfare implications.
• Some empirics.

Lecture 8

In this lecture, we cover:

• Why collude?
• Examples and types of collusion.
• Collusion in Dynamic Oligopoly.
• The Folk Theorem.
• Factors facilitating collusion.

Lecture 7

This week we look more at product differentiation, covering

• Price discrimination in the Hotelling (1929) set-up.
• The Salop (1979) circular-city model, and how product proliferation may be used for entry deterrence.
• The Shaked and Sutton (1982) quality choice model of vertical differentiation.
• Some empirics, and other issues.

Lecture 6

In this lecture we cover:

• The Dixit-Stiglitz (1977) exogenous product differentiation model.
• The Hotelling (1929) linear-city model of endogenous differentiation.

Lecture 5