Microeconomics 3

1st class

  1. Market intermediation with particular reference to network goods

Introduction to the intermediation problem: Information and reputation questions

Reference:

(*) Belleflamme P. and M. Peitz, (2015) Industrial Organization, 2d ed, Cambridge University Press,

Ch. 23

The supply side question: On-line customer persuasion and privacy

Reference:

A De Corniere, R De Nijs (2016) Online advertising and privacy, The RAND Journal of Economics,

The demand side question: Consumer’s attention cost  

Reference:

Kominers S. D, X. Mu, A. Peysakhovich (2016) Paying (for) Attention: The Impact of Information Processing Costs on Bayesian Inference, WP

 

2d class

  1. Behavioral IO: Foundation

Bounded rationality in IO

References:

(*) Potters, J., S, Suetens (2013)  Oligopoly experiments in the current millennium, Journal of Economic Surveys

Eliaz, K,  R. Spiegler (2015) Beyond “Ellison’s Matrix”: New Directions in Behavioral Industrial Organization, Review of Industrial Organization

 

3d class

  1. Behavioral competition policy (I)

Collusion in experimental markets

(*) Abbink, K. and J. Brandts, (2009) Collusion in growing and shrinking markets: Empirical evidence from experimental duopolies, WP

Fonseca, M.A., H.T. Normann (2012) Explicit vs. tacit collusion: The impact of communication in oligopoly experiments, European Economic Review

 

4th class

  1. Behavioral competition policy (II)

“Quasi” rational consumers

References:

(*) Luini, L., P.L. Sabbatini (2012) Demand cross elasticity without substitutability, Journal of

Socio-Economics

Meier S., C. Sprenger (2010) Present-biased preferences and credit card borrowing, American Economic Journal: Applied Economics

de Clippel G., K. Eliaz, and K. Rozen, (2014) Competing for Consumer Inattention, Journal of Political Economy

 

(*) Main reference