In this topic we examine different views on the mechanisms by which advertising works, examining the welfare consequences of advertising in each case.

Topic 6: Product differentiation

In this topic we analyse horizontal product differentiation models, which are models in which consumers value variety in consumption, or in which different c...

Topic 5: Price discrimination and nonlinear pricing

In this topic, we look at the different varieties of price discrimination which monopolists may perform.

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...

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.

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.

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.

Full letter to the Guardian on Universal Basic Income

I recently had a letter published in the Guardian, here. I hacked it down considerably though to get under the word limit though. Below is a slightly more ex...

Topic 7: Advertising

In this topic we examine different views on the mechanisms by which advertising works, examining the welfare consequences of advertising in each case.

Topic 6: Product differentiation

In this topic we analyse horizontal product differentiation models, which are models in which consumers value variety in consumption, or in which different c...

Topic 5: Price discrimination and nonlinear pricing

In this topic, we look at the different varieties of price discrimination which monopolists may perform.

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...

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.

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.

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.

2015

Attaining proportional representation without giving up the constituency link

Traditional forms of proportional representation (PR) lead to one or more of the following undesirable features:

PhD Real Analysis for Economists, 2015

Below are the videos for the PhD Real Analysis for Economists course that I ran in January 2015.

2014

Topic 7: Advertising

In this topic we examine different views on the mechanisms by which advertising works, examining the welfare consequences of advertising in each case.

Topic 6: Product differentiation

In this topic we analyse horizontal product differentiation models, which are models in which consumers value variety in consumption, or in which different c...

Topic 5: Price discrimination and nonlinear pricing

In this topic, we look at the different varieties of price discrimination which monopolists may perform.

Mock mid-term short answer test

Below is the mock mid-term short answer test.

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...

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.

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.

Jean Tirole wins the 2014 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel

Tirole has made many huge contributions to the field of Industrial Organisation that we’re studying this semester. I know I’m a bit late on this as I’ve been...

Facebook Page

This Industrial Organisation Course now has a Facebook page here. Follow the page to get updates when new slides are released.

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.

Welcome to the 2014 Industrial Organisation site

This year’s course will be very similar to the 2013 and 2012 ones, which you can see by clicking on the links on the right, or at the top.

Welcome to my site

Thanks for visiting this site.

Lecture 9: More on advertising

In this lecture we look at advertising with free-entry and advertising in oligopoly, before concluding with some empirics.

2013

Mock end of term test

Below is the mock for the 2013 end of term test. The actual test will be the same, other than having different numbers in places.

Lecture 8: Vertical differentiation and advertising

In this lecture we go through a model of vertical differentiation, then begin our final topic on advertising.

Lecture 7: More on product differentiation

In this lecture we look further at horizontal product differentiation models. The slides we did not cover in the lecture go over vertical differentiation mod...

Lecture 6: Profit reducing price discrimination, and product differentiation

In this lecture we finish last week’s analysis of price discrimination by looking at some cases in which price discrimination actually reduces profits.

Mock mid-term multiple choice test

Below is the mock mid-term multiple choice test.

Lecture 5: Price discrimination and nonlinear pricing

In this lecture we look at some of the ways a monopolist can obtain higher profits than in the standard monopoly solution.

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

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 competitio...

Lecture 3: Further static oligopoly

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

Lecture 2: Basic oligopoly

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

Lecture 1: Introduction to Industrial Organisation

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

Here we go again! Welcome to the 2013 slides!

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.

Problem set 5

The final problem set of the semester, this time on auctions.

Lecture 8: Auctions

In this lecture we examine different types of auctions, considerations in optimal auction design, and some examples of real world auctions.

Problem set 4

In this problem set we look at the issues that arise from asymmetric information.

Lecture 7: Asymmetric information 2

In this lecture we examine the problems caused by moral hazard in insurance and health markets, and we also examine principal-agent problems.

Problem set 3

The third problem set, on the VCG mechanism, intertemporal choice and adverse selection.

Lecture 6: Asymmetric information 1

In this lecture, we look at the problems caused by adverse selection, first in product markets, then in insurance markets, then in labour markets.

Lecture 5: Intertemporal choice

In this lecture we look at net present values, and choices across time.

Problem set 2

The second problem set, on welfare, externalities and public goods.

Lecture 4: Public goods

In this lecture we introduce public goods, describe the conditions for their optimal provision, and show how we may discover the strength of people’s prefere...

Lecture 3.2: Externalities

In this half of the lecture we look at externalities and a few mechanisms to lessen their impact.

Lecture 3.1: Welfare

In this half of the lecture we introduce social welfare functions and analyse their origins and their optima. We also look at the economics of voting.

Problem set 1

Below is the first problem set, on uncertainty.

Lecture 2: Uncertainty 2

In this lecture we show assorted examples of solving problems of decisions under uncertainty, and introduce the welfare topic.

Welcome to Intermediate Microeconomics 2!

Welcome to the course website. Here I’ll upload all of the slides, and all of the problem sets. (Answers to problem sets will be distributed in classes.)

Lecture 1: Uncertainty 1

In this first lecture, I introduce the course, then we go on to look at rational choice under uncertainty. We’ll discuss expected utility, risk aversion, ris...

2012

Lecture 9: More on advertising

In this final lecture we look at a few more models of advertising. Lecture 9

Mock end of term test

Below is the mock for the end of term test which will happen next week (week 10). As I said in the lecture, the final test will be identical except for diffe...

Lecture 8: Vertical differentiation and advertising

In this lecture we go through a model of vertical differentiation, then begin our final topic on advertising. Lecture 8

Lecture 7: More on product differentiation

In this lecture we complete our analysis of product differentiation, looking at location choice, welfare, discriminatory equilibria, product proliferation an...

Lecture 6: More on price discrimination and nonlinear pricing + Intro to product differentiation

In this lecture we finish up the price discrimination topic, and introduce two models of product differentiation. Lecture 6

Mock mid-term multiple choice test

Below is the mock mid-term multiple choice test. The answers are available from here.

Lecture 5: Price discrimination and nonlinear pricing

In this lecture we look at some of the ways a monopolist can obtain higher profits than in the standard monopoly solution. Lecture 5

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

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 competitio...

Lecture 3: Further static oligopoly

In this lecture we go further into the consequences of Bertrand and Cournot competition, and we investigate the links between the two. lecture 3.pdf

Lecture 2: Basic oligopoly

In this lecture, we start with a game theory refresher, and then we move on to look at Bertrand and Cournot oligopoly. Lecture 2

Lecture 1: Introduction to IO

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

New year, new course, new textbook

This course is starting again, and the content of lectures will be a little different this year. But last year’s slides might still be helpful, so I’m leavin...

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