Chapter 7 Markets for Differentiated Products You can have it any color you want as long as it's black. -Attributed to Henry Ford In this chapter we analyze oligopolies…

Slide 1Price competition. Slide 2 Firm Behavior under Profit Maximization Monopoly Bertrand Price Competition Slide 3 Monopoly A monopoly solves Max p(q)q-c(q) –q is quantity.…

Slide 1EPOC Winter Workshop, September 7, 2007 Andy Philpott The University of Auckland www.esc.auckland.ac.nz/epoc (joint work with Eddie Anderson, UNSW) Uniform-price auctions…

Lecture 8: pricing and Strategy Advanced Micro Theory MSc.EnviNatResEcon. 1/2006 Charit Tingsabadh Chapter 13 Oligopoly and Monopolistic Competition Table 13.1 Properties…

Chapter 7 Strategic Commitment Oleh : Deddi Wahyudi & Dian Eky * Strategic commitment are decisions that have long-term impacts and are difficult to reverse Strategic…

Oligopoly Theory * Oligopoly Theory 3. Price-Setting Competition and Contestable Market Aim of This Lecture (1) To understand the difference between price-setting and quantity-setting…

Uniform-price auctions versus pay-as-bid auctions Andy Philpott The University of Auckland www.esc.auckland.ac.nz/epoc (joint work with Eddie Anderson, UNSW) Summary Uniform…

Topic 2 (continuation): Oligopoly Juan A. Mañez 3.- Bertrand’s supergame The competitive result of the Bertrand is due to its static nature. In the Bertrand equilibrium…

PCAIDS Merger Simulation with Nests: A New Framework for Unilateral Effects Analysis By Roy J. Epstein Adjunct Professor of Finance, Carroll School of Management, Boston…

OLIGOPOLY DYNAMICS: COLLUSION AND PRICE WARS 1 Overview • Context: Firm interact over time — possible time-dependent strategies • Concepts: repeated games, grim strategies,…