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Lecture Microeconomics: Chapter 13 - Besanko, Braeutigam

Chapter 13 - Market structure and competition. This chapter presents the following content: Introduction - cola wars, a taxonomy of market structures, monopolistic competition, oligopoly – interdependence of strategic decisions, the effect of a change in the strategic variable, the effect of a change in timing. | 2 Q. Ọ o 5 Ọ 2 Õ g cn o apter 13 Copyright c 2014 John Chapter Thirteen Overview 1. Introduction Cola Wars 3. A Taxonomy of Market Structures 5. Monopolistic Competition 6. Oligopoly - Interdependence of Strategic Decisions Bertrand with Homogeneous and Differentiated Products 7. The Effect of a Change in the Strategic Variable Theory vs. Observation Cournot Equilibrium homogeneous Comparison to Bertrand Monopoly Reconciling Bertrand and Cournot 8. The Effect of a Change in Timing Stackelberg Equilibrium f B Chapter Thirteen ffl gJS 2 Market Structures Four Key Dimensions The number of sellers The number of buyers Entry conditions The degree of product differentiation 1 n Chapter Thirteen no El