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Industrial Organization is the study of firm behaviour and its implications for market outcomes. Firm behaviour is multi-dimensional. It includes pricing-policy, capacity choices, product positioning, marketing, as well as R&D and innovation. As many markets feature a small number of firms, their interaction is inherently strategic. The analysis of firm behaviour therefore relies heavily on the tools of Game Theory.
The course has three parts. Part 1 deals with the concept of market power. Topics include multiproduct monopolies and price discrimination. Part 2 considers the standard models of oligopolistic competition in homogeneous product markets. We distinguish between price competition and quantity competition and discuss two major concerns of antitrust authorities; entry deterrence and collusion. Part 3 considers oligopolistic competition with differentiated products. Topics include product and quality choice and advertising.
The course requires knowledge of basic microeconomic and game theoretic concepts. Language is English.
Books
1. Cabral, L., Introduction to Industrial Organization, 2000, MIT Press.
2. Belleflamme, P. and M. Peitz, Industrial Organization: Markets and Strategies, 2010, Cambridge University Press.
3. Tirole, J., The Theory of Industrial Organization, 1989, MIT Press.
Problem Sets
Each topic contains a set of problems. These problems should be solved by students (preferably in groups) at home. They will be discussed in the practical sessions.
Evaluation
A written Exam at the end of the course contributes 100% to the final grade.
lecture Mondays, 08.15- 10.00h, 205, H4
exercise Mondays, 10.15-11.00h, 205, H4
1. Exam 26.05.2025 08.15 - 09.45 hrs, 205, H4
2. Exam 08.09.2025, 08.15 - 09.45 hrs, tba |
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