## Topic 9: Search and matching, old Keynesian, and new monetarist models

Slides:

Slides:

Slides:

Exercises:

Exercises:

A few weeks ago, a journalistic article of mine on Universal Basic Income as a tool for tax and benefit reform was published on Social Liberal Forum.

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

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

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

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...

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

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.

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

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...

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

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

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

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...

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

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.

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

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

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

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

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

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

Below is the mock mid-term short answer test.

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...

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

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.

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...

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

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

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.

Thanks for visiting this site.

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

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.

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

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...

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

Below is the mock mid-term multiple choice test.

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

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...

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

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.

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

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.

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

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

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

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

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

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

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

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

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

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.

Below is the first problem set, on uncertainty.

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

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.)

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...

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

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...

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

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

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

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

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

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...

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

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

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

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...

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....

This week we look at advertising, covering: Different views on why advertising works. Several models and their welfare implications. Some empirics.

In this lecture, we cover: Why collude? Examples and types of collusion. Collusion in Dynamic Oligopoly. The Folk Theorem. Factors facilitating co...

This week we look more at product differentiation, covering Price discrimination in the Hotelling (1929) set-up. The Salop (1979) circular-city model, a...

In this lecture we cover: The Dixit-Stiglitz (1977) exogenous product differentiation model. The Hotelling (1929) linear-city model of endogenous differ...

In this lecture we cover:

In this lecture we cover: A few footnotes to last week. Entry deterrence. Dixit-Spence. Fudenburg and Tirole. Predatory prici...

In this lecture we cover: Some game theory Cournot versus Bertrand Kreps and Scheinkman (1983) Entry Welfare

In this lecture, we cover: What is IO? Monopoly Static oligopoly The structure of the rest of the course

Welcome to this blog. On it will be posted all of the slides and reading material for my Industrial Organisation teaching. Feel free to comment on posts with...

Core texts: Cabral, Introduction to Industrial Organization Tirole, The Theory of Industrial Organization