{"id":870,"date":"2020-09-19T11:27:54","date_gmt":"2020-09-19T09:27:54","guid":{"rendered":"https:\/\/docenti-deps.unisi.it\/luigiluini\/?page_id=870"},"modified":"2020-12-11T08:59:38","modified_gmt":"2020-12-11T07:59:38","slug":"industrial-organization-4","status":"publish","type":"page","link":"https:\/\/docenti-deps.unisi.it\/luigiluini\/industrial-organization-4\/","title":{"rendered":"Industrial Organization"},"content":{"rendered":"

Credits: 9 International Accounting and Management (Classes + Assignment)<\/strong>
\nCredits: 6 Economics (Classes)<\/strong>
\nETCS: 9<\/strong>
\n(2020-2021, 1st semester)<\/strong>
\nClasses: Wednesday 11:00am -1:00 pm; Thursday 11:00am-1:00 pm; Friday 11:00am-1:00 pm
\nLecturer: Luigi Luini<\/strong>
\nObjectives:<\/strong>
\nThe aim of the course is to help students to be familiar with contemporary topics in advanced
\nindustrial organization both theoretical and applied. The course is focused on special topics as
\nNetwork economics, Media industries and Advertising.<\/p>\n

Recommended prerequisites:<\/strong>
\nIndustrial Economics (introductory level) as in: Cabral, Introduction to IO, 2d ed, MIT Press, 2017,
\nCh. 4 Games and Strategies; Ch. 5 Monopoly; Ch. 6 (Almost) Perfect Competition; Ch. 7 Oligopoly:
\nBertrand and Cournot; Ch. 8 Collusion; Ch 9 Market Power.
\nAssessment:
\n9 Credits:
\nExam (80%): Part I, Part II (Main Reference: Belleflamme-Peitz, Industrial Organization, CUP, 2015.
\nChs; 3, 4, 5, 6, 7, 19, 20, 21, 22, 23) + Assignment
\n(20%): -> See the Guidelines available at the webpage of the lecturer.
\n6 Credits:
\nExam (100%): Part I, Part II (Main Reference: Belleflamme-Peitz, Industrial Organization, CUP,
\n2015. Chs; 3, 4, 5, 6, 7, 19, 20, 21, 22, 23)<\/p>\n

Syllabus<\/strong><\/p>\n

Part I. Refreshing and advances on IO theoretical topics. Market power and sources of market power<\/strong>
\n1.Oligopoly models: Cournot, Bertrand, Hotelling, Stackelberg. Static and dynamic aspects of
\nimperfect competition
\n1.1 Sequential choice: Stackelberg, 1.2 One leader and one follower, 1.3 One leader and an
\nendogenous number of followers, 1.4 Commitment, 1.5 Free entry: endogenous number of firms,
\n1.6 Properties of free-entry equilibria, 1.7 The Cournot model with free entry, 1.8 Price
\ncompetition with free entry, 1.9 Monopolistic competition, 1.10 Industry concentration and firm
\nturnover, 1.11 Exogenous versus endogenous sunk costs, 1.12 Dynamic firm entry and exit
\nReference: Belleflamme-Peitz, Industrial Organization, CUP, 2015, Ch 3 and 4
\n2 Product differentiation: Empirical analysis
\n2.1 Probabilistic choice and the logit model, 2.2 Empirical analysis of horizontal product
\ndifferentiation, 2.3 Empirical analysis of vertical product differentiation, 2.4 Nested logit and other
\nextensions
\nReference: Belleflamme-Peitz, Industrial Organization, CUP, 2015, Ch 5
\n3 Asymmetric information, price and advertising signals
\n3.1 Asymmetric information problems, 3.1.1 Hidden information problem, 3.1.2 Hidden action
\nproblem, 3.2 Advertising and price signals, 3.2.1 Advertising signals, 3.2.2 Price signals, 3.2.3 Joint
\nprice and advertising signals, .3 Price signalling under imperfect competition
\nReference: Belleflamme-Peitz, Industrial Organization, CUP, 2015, Ch 6
\n4 Consumer inertia
\n4.1 Uninformed consumers and search costs, 4.2 Price dispersion, 4.3 Consumer search, 4.4
\nEmpirical investigation of price dispersion, 4.5 Switching costs, 4.6 Competitive effects of switching
\ncosts, 4.7 Coupons and endogenous switching costs, 4.8 Estimating switching costs, 4.9 Customer
\npoaching
\nReference: Belleflamme-Peitz, Industrial Organization, CUP, 2015, Ch 7
\nPart II. Networks, Standards and Systems, Market Intermediation<\/strong>
\n5 Intellectual property rights
\n5.1 Alternative incentive mechanisms: rewards and secrecy, 5.2 Protection of IP in practice,
\nProtecting innovations, 5.2.1 Optimal design of IP rights, 5.2.2 Rewards vs. patents, 5.2.3 Secrecy vs.
\npatents 5.3 Cumulative innovations, 5.3.1 Sequential innovations and holdup 5.3.2 Complementary
\ninnovations and anticommons, 5.4 Intellectual property in the digital economy, 5.4.1 End-user piracy, 5.4.2
\nSoftware protection
\nReference: Belleflamme-Peitz, Industrial Organization, CUP, 2015, Ch. 19
\n6. Markets with network goods
\n6.1 Network effects, 6.2 Direct and indirect network effects, 6.3 Network effects and switching costs,
\n6.4 Empirical evidence on network effects, 6.5 Markets for a single network good, 6.6 Modelling the
\ndemand for a network good, 6.7 Provision of a network good, 6.8 Markets for several network goods, 6.9
\nDemand for incompatible network goods, 6.10 Oligopoly pricing and standardization
\nReference: Belleflamme-Peitz, Industrial Organization, CUP, 2015, Ch. 20
\n7 Strategies for network goods
\n7.1 Choosing how to compete, 7.2 A simple analysis of standardization, 7.3 A full analysis of
\nstandardization, 7.4 Strategies in standards wars, 7.5 Building an installed base for pre-emption, 7.6
\nBackward compatibility and performance, 7.7 Expectations management, 7.8 Public policy in network
\nmarkets, 7.9 Ex ante interventions, 7.10 Ex post interventions
\nReference: Belleflamme-Peitz, Industrial Organization, CUP, 2015, Ch. 21
\n8 Markets with intermediated goods
\n8.1 Intermediaries as dealers, 8.2 Intermediated versus nonintermediated trade, 8.3 Dealer versus pure
\nplatform operator, 8.4 Intermediaries as matchmakers, 8.5 Divide-and-conquer strategies, 8.6 Sorting by an
\nintermediary in a matching market, 8.7 Intermediaries as two-sided platforms, 8.8 The price structure for
\nintermediation services, 8.9 Competing intermediaries, 8.10 Implications for antitrust and regulation, 8.11
\nNetwork effects in media industries
\nReference: Belleflamme-Peitz, Industrial Organization, CUP, 2015, Ch. 22
\n9 Information and reputation in intermediated product markets
\n9.1 Intermediation and information, 9.2 Information overload, 9.3 \u2018Infomediaries\u2019 and competition in
\nsearch markets, 9.4 Information and recommendation networks, 9.5 Intermediation and reputation, 9.6
\nCertifying intermediaries, 9.7 Reputation systems
\nReference: Belleflamme-Peitz, Industrial Organization, CUP, 2015, Ch. 23<\/p>\n

Elective topics for assignments (9 credits only):<\/strong>
\n– Pricing in search engine advertising;
\n– Attention economy;
\n-Spectrum Allocation: Advanced topics;
\n– Collaborative action models;
\n– E-commerce: online and offline competition and complementarity in a specific market;
\n– News(papers), Magazines, Books;
\n– Music market, Movie market: Free download, piracy, streaming;
\n– Public service broadcasting in the digital world;
\n– Public-Private interest in the platform economy;
\n– (Ab)use of market power in the internet market;
\n– Consumer single\/multi-homing;
\n– Social networks;
\n– Wikipedia;
\n– Open Source;
\n– Cloud computing: Platform competition, Security.
\nSee the bibliography for writing the Assignment at the webpage of the lecturer<\/p>\n

 <\/p>\n

 <\/p>\n

IndustrialOrganization-20-21-Guidelines<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Credits: 9 International Accounting and Management (Classes + Assignment) Credits: 6 Economics (Classes) ETCS: 9 (2020-2021, 1st semester) Classes: Wednesday 11:00am -1:00 pm; Thursday 11:00am-1:00 pm; Friday 11:00am-1:00 pm Lecturer: Luigi Luini Objectives: The aim of the course is to help students to be familiar with contemporary topics in advanced industrial organization both theoretical and … Leggi tutto “Industrial Organization”<\/span><\/a><\/p>\n","protected":false},"author":8,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-870","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/docenti-deps.unisi.it\/luigiluini\/wp-json\/wp\/v2\/pages\/870","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/docenti-deps.unisi.it\/luigiluini\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/docenti-deps.unisi.it\/luigiluini\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/docenti-deps.unisi.it\/luigiluini\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/docenti-deps.unisi.it\/luigiluini\/wp-json\/wp\/v2\/comments?post=870"}],"version-history":[{"count":6,"href":"https:\/\/docenti-deps.unisi.it\/luigiluini\/wp-json\/wp\/v2\/pages\/870\/revisions"}],"predecessor-version":[{"id":891,"href":"https:\/\/docenti-deps.unisi.it\/luigiluini\/wp-json\/wp\/v2\/pages\/870\/revisions\/891"}],"wp:attachment":[{"href":"https:\/\/docenti-deps.unisi.it\/luigiluini\/wp-json\/wp\/v2\/media?parent=870"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}