1 - Announcement Economics 121B Industrial Organization...

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1 Economics 121B Industrial Organization Fall 2009 Joonsuk Lee epflee@ucdavis.edu Week 1: Introduction to Antitrust 2 Announcement ! MyUCDavis: syllabus, lecture slides, problem sets, practice exams, answer keys will be available ! Problem Set 1 is available to download ! Due: October 14, Wednesday ! Week 1 Reading ! Monday: 1-5, 61-76, 79-88, 93-95 ! Wednesday: pp. 101-113 ! Friday: pp. 101-113 3 This Week ! Historical Background on Antitrust ! Federal Antitrust Laws ! How to Measure Market Performance? ! Efficiency and Technological Progress ! Introduction to Game Theory ! Prisoners’ Dilemma ! Oligopoly Models ! The Cournot Model and the Bertrand Model 4 Antitrust Overview ! Presence of Market Failures : far from ideal world ! Role of the Government : needs for some interventions ! Antitrust as Competition Policy ! Prevent or discourage firms to exercise market power illegally ! Detect and punish anti-competitive behaviors ! Enforcement ! Department of Justice ( DOJ FTC ) ! Role of the Courts
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5 ! The SCP Paradigm of I.O. ! Figure 3.1 STRUCTURE Concentration Product differentiation Entry barriers ! ! ! CONDUCT Pricing Advertising GOVERNMENT POLICY Antitrust Regulation PERFORMANCE Efficiency Technical progress 6 Federal Antitrust Laws ! Sherman Act (1890) ! Section 1: prohibits contracts, combinations and conspiracies “in restraint of trade”
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This note was uploaded on 05/15/2010 for the course ECN 60112 taught by Professor Janinewilson during the Fall '10 term at UC Davis.

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1 - Announcement Economics 121B Industrial Organization...

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