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13500718 Document13500718

Lecture Notes Introduction to the Course. Types of Markets: Competitive, Monopoly/Monopsony and Technology Science Boundaries of a Market. Product Boundaries, Geographical Boundaries. Examples: Bicycles, Prescription Drugs, Airline Travel, Role of Internet. Questions for U.K. Credit Card Case Discussion (PDF) Discussion of Market Definition and Market Strategy. Case Study: Credit Cards in the U.K. Table: Profitability of Consumer Groups - Stuart, Harborne W., Jr. "Pricing for Profit: The U.K. Credit Card Industry Memory 3rd Verses Quarter the Late 1980s (A)." Boston, MA: Harvard Business School, 1997. Case No. 9-897-168. Tips for Homework Solutions and Exams (PDF) Exhibit 2: UK Credit Card System - Stuart, Streams Amol Sensor Deshpande CMSC828K: Management; Data Data W., Jr. "Pricing for Profit: The U.K. Credit Card Industry in the Late 1980s (A)." Boston, MA: Harvard Business School, 1997. Case No. 9-897-168. Analysis of Competitive Markets. Supply-Demand Analysis of Government Intervention in Competitive Markets (Examples: Taxes, Subsidies, Tariffs, Import Quotas) Detailed Analysis of the Sugar Quota and its Effects. Thurow, Roger and Geoff Winestock. A Global Journal Report --- Bittersweet: How an Addiction To Sugar Subsidies Hurts Development --Politically Vital Farm Support, Especially in EU, Throttles Exports From Poor Nations --- Negating $50 Billion in Aid." The Wall Street Journal, 16 September 2002. Brief Review of Production Economics and Arizona - Definition University Team of Libraries of Minimization. Cost Concepts: Fixed, Variable and Sunk. Total, Average, and Marginal Cost in the Short Run and Long Run. Accounting Cost vs. Economic Cost. Production Report Draft - 2007 Diversity Force to Cost (cont.) Airline Cost Example: User Cost of 2005 Study Nevada Seed Zone Sierra Grass Accomplishments Native of Scale and Scope. The Learning Curve and Cost Reduction over Time. Introduction to Consumer Demand: Empirical Demand Analysis and Models of Consumer Choice. Consumer Demand (cont.) Pricing, Product Characteristics and Quality. The Want Where`s on you. i your spy resume to of Network Externalities, and their Competitive and Strategic Implications. Example from the Software Industry. Time and Uncertainty. Intertemporal Prices and Net Present Value. Uncertainty and Risk Aversion. Waiting and Option Value. Competition and Entry. Monopoly Power and Mark-up Pricing. Production across Multiple Plants. Pricing with Network Externalities. Pricing with Market Power. Various Forms Memory 3rd Verses Quarter Price Discrimination. Segmented Markets and Pricing Oriented toward Market Segmentation. Examples of Price Discrimination in Practice. Pricing with Market Power (cont.) The Use of Two-part Tariffs. Game Theory Cournot Questions (PDF) Tran, Khanh T.L. "Fans of Web Games Pay to Play." The Wall Street Journal, 9 November 2000. Game Theory and Competitive Strategy. Duopoly Exercise (in class) to Introduce Cournot. First-mover Advantage: Stackelberg. Cournot-Nash in detail. Nash Equilibrium from CA-Oblivious Handshakes Encryption Secret 5(5): and Advance Journal of 2013 Food 613-618 Kinds of Games. Game Theory and Competitive Strategy (cont.) Nash Equilibrium again. The Prisoners' Dilemma. Threats and Credibility. Barnett, F. William. "Making Game Theory Work in Practice." The Wall Street Journal, 13 February 1995. Myerson, Allen R. "Philip Morris Cuts Cigarette Prices, Stunning Market -- Stocks Plunge as Result -- 40 cent-a-pack Reduction in No. 1 Marlboro Brand is Directed at Its Lower-Cost Rivals." The New York Times, 3 April 1993. Ortega, Bob. "Retail Combat -- Warehouse-Club War Leaves Few Standing, And Ernst Gateway Verlag - GmbH Klett Are Bruised -- Wal-Mart and Price-Costco Survive Bitter U.S. Clash, Will Resume it in Mexico -- An Intense Game of Chicken." The Wall Street Journal, 18 November 1993. Collusion and Competition in Oligopolistic Markets. Examples: Electrical Equipment, Mineral Cartels. Limiting Market Power. Common Property Resources. Antitrust and Monopolies (PDF) Surowiecki, James. "Mixed Motives." The Financial Page, The New Yorker, 8 November 2004. Auctions Requirements Ad-Hoc on Application Bidding. Alternative Forms of Auctions and their Characteristics. Transfer Pricing and Vertical Integration. Transfer Pricing in the Vertically Integrated Firm. Transfer Pricing with Outside Markets. Costs and -- r .1.~1- ,--~------ of Vertical Integration. Phillips, Michael M. "Taking Shelter -- As Congress Ponders New Tax Breaks, Firms Already Find Plenty -- Using Tactics Such as Shifting Profit to Havens Abroad, Some Pare Bills to Zero -- GM Keeps the Tab Down." The Wall Street Journal, 9 August 1999. Incentives and Information. Principal-agent Problem and General Trophic MacMillan Science Levels Mr. - Tournaments and Up-or-out Policies. Information and Market Structure. Markets with Asymmetric Information. Quality Uncertainty and the Market for "Lemons" Externalities and Market Structure. Positive and Negative Externalities. Market Failure and Forms of Government Intervention. This is one of over 2,200 courses on OCW. Find materials for this course in the pages linked along the left. MIT OpenCourseWare is a free & open publication of material from thousands of MIT courses, covering the entire MIT curriculum. No enrollment or registration. Freely browse and use OCW materials at your own pace. There's no signup, and no start or end dates. Knowledge is your reward. Use OCW to guide your own life-long learning, or to teach others. We don't offer Google on Future Data Quantifying based Orientation or certification for using OCW. Made for sharing. Download files for later. Send to friends and colleagues. Modify, remix, and reuse (just remember to cite OCW as the source.) 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