ECON Review - (safety component), Rail transport with...

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Review American Industries: Progress 1) Covered a lot of ground in introducing fundamental concepts on how you have to think about an industry studied basic concepts of industrial organizations as a field How they function, How they perform? Thought about them in a fairly sophisticated way: barriers to entry, innovation, integration of firms, collusion… Thought about public interest and private interest… Many of these concepts can be easily applied to other industries. For example, cigarettes are not too dissimilar from beer (product differentiation). Computer business is very similar to the drug industry (innovation). Less obvious – Air Transport with banking
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Unformatted text preview: (safety component), Rail transport with electricity (network industries) 2) Created a general framework Structure Conduct Performance Strategic behavior, not necessarily because its profitable but because of its long term effects. 3) We can appreciate the challenges that face those who engage in public policy making in dealing with industries. Economic regulation, anti-trust limitations are numerous Just as there are market failures, so there can be government failures as well. What more to learn: Understanding Strategic Behavior (game theory of market settings)...
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This note was uploaded on 04/13/2010 for the course ECON 330 taught by Professor Minetti during the Fall '08 term at Michigan State University.

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