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Price Competition

Price Competition

Price Competition. Introduction. In a wide variety of markets firms compete in prices Internet access Restaurants Consultants Financial services With monopoly setting price or quantity first makes no difference In oligopoly it matters a great deal

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476 views • 36 slides
Price Competition

Price Competition

Price Competition. Introduction. In a wide variety of markets firms compete in prices Internet access Restaurants Consultants Financial services With monopoly setting price or quantity first makes no difference In oligopoly it matters a great deal

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381 views • 36 slides
Economics of the Firm

Economics of the Firm

Economics of the Firm. Strategic Pricing Techniques. Recall that there is an entire spectrum of market structures. Market Structures. Perfect Competition Many firms, each with zero market share P = MC Profits = 0 (Firm’s earn a reasonable rate of return on invested capital)

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455 views • 31 slides
Session 4: Topics

Session 4: Topics

Session 4: Topics. Strategy space, pure and mixed strategies Solution concepts Backward induction Dominance Nash equilibrium. Strategy Space. The product structure of strategies of all players S = S 1 * S 2 * S 3 * … * S k = ∏ S i S(-i) = Strategies of all player but player (i).

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392 views • 31 slides
Airplanes

Airplanes

Airplanes. Sierra Prochna, Elise Lepe, Louis Hwang, Evanka Weerasinghe, and Stephanie Wilson. Competition and Landing Fee Emergence. Airline competition 20 years ago. Most airports were public sector owned (gov ’ t)

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770 views • 28 slides
Mergers

Mergers

Mergers. Economic Issues Miguel A. Fonseca m.a.fonseca@exeter.ac.uk. readings. Martin, S. Industrial Economics , ch. 10 Church & Ware, ch. 23 Motta (2000) – available online on the course website. Recap. Last week we started the class by looking at two extreme cases:

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447 views • 22 slides
ECON 100 Tutorial: Week 9

ECON 100 Tutorial: Week 9

ECON 100 Tutorial: Week 9. www.lancaster.ac.uk/postgrad/alia10/ a.ali11@lancaster.ac.uk office hours: 3:45PM to 4:45PM tuesday LUMS C85. Question 1(a). Define a dominant strategy equilibrium

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349 views • 22 slides
3.4. Bertrand Model

3.4. Bertrand Model

3.4. Bertrand Model. Matilde Machado. 3.4. Bertrand Model. In Cournot, firms decide how much to produce and the market price is set such that supply equals demand. But the sentence “price is set” is too imprecise. In reality how does it work exactly?

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2k views • 17 slides
Svitzer/Adsteam: Assessing unilateral effects when monopolists merge

Svitzer/Adsteam: Assessing unilateral effects when monopolists merge

Svitzer/Adsteam: Assessing unilateral effects when monopolists merge . Association of Competition Economics (ACE) Conference . Overview. Potential competition concern Analysis of potential entry What’s the relevant price benchmark?. 1. Potential competition concern.

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277 views • 15 slides

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