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ch01 (1) - Industrial Organization contemporary theory and...

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Industrial Organization: Chapter 1 1 Industrial Organization: contemporary theory and practice (3 rd edition) Lynne Pepall Dan Richards George Norman
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Industrial Organization: Chapter 1 2 Introduction How firms behave in markets Whole range of business issues price of flowers; payment to be official sponsor of major events which new products to introduce merger decisions methods for attacking or defending markets Strategic view of how firms interact
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Industrial Organization: Chapter 1 3 How should a firm price its product given the existence of rivals? How does a firm decide which markets to enter? Incredible richness of examples: Microsoft/Netscape/Sun ADM (collusion) Toys R Us (exclusive dealing) American Airlines (predatory pricing) Merger wave At the heart of all of this is strategic interaction
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Industrial Organization: Chapter 1 4 Rely on the tools of game theory focuses on strategy and interaction Construct models: abstractions well established tradition in all science physics engineering are SUVs safe?
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