• Introduction • The welfare economics of market power • Profit Maximization • Perfect Competition • Efficiency • Market Power • Market Power and Public Policy • Theory of the firm • Neoclassical theory of the firm • Why do firms exists? • Limits to firm size • Do firms profit maximize? • Summary
Game theory 1 Classic models of oligopoly Game theory 2 Dynamic models of oligopoly Product differentiation Identifying and measuring market power Ch. 8 Classic models of oligopoly Ch. 9 game theory 2 Ch. 10 dynamic models of oligopoly • Reaching an agreement • Stronger, swifter, more certain • Dynamic games • Supergames • Factors that influence the sustainability of collusion • Facilitating practices • Antitrust and collusion • Summary Ch. 11 product differentiation • What is product differentiation? • Monopolistic competition • Bias in product selection • Address models • Strategic behavior • Oligopoly equilibrium in vertically differentiated markets • Summary Ch. 12 Identifying and measuring market power • Structure, conduct, and performance • The new empirical industrial organization • The NEIO and SCP: a summing up • Summary
