Lecture 9: Research and Development
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
Lecture 8: Advertising
This week we look at advertising, covering: Different views on why advertising works. Several models and their welfare implications. Some empirics. Lecture 8
Lecture 7: Collusion and Dynamic Oligopoly
In this lecture, we cover: Why collude? Examples and types of collusion. Collusion in Dynamic Oligopoly. The Folk Theorem. Factors facilitating collusion. Lecture 7
Lecture 6: Product differentiation 2
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
Lecture 5: Product differentiation 1
In this lecture we cover: The Dixit-Stiglitz (1977) exogenous product differentiation model. The Hotelling (1929) linear-city model of endogenous differentiation. Lecture 5