Singh_Econ139A_S2011_Lec6 (1)

Singh_Econ139A_S2011_Lec6 (1) - Economic Principles for...

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1 business. technology. society. Economic Principles for E-Commerce The Economics of Electronic Commerce (Economics 139A) UCSC Spring 2011 Professor Nirvikar Singh April 8, 2011
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2 Patents vs. Copyrights Patent law gives the holder the right to exclude all others from making, using, or selling the invention The scope of the invention is determined by the patent claims Copyright law prevents the copying of the expression of ideas, but does not protect ideas themselves Copyright law therefore does not protect against someone stealing an invention or someone else independently creating a similar expression
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3 Other (Non-IP) Legal Aspects Assurance for electronic transactions - certification and security Electronic communications - message integrity, “like paper” Privacy issues Control of monopoly power
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4 Law Take Aways Understand patent law and its application to software Understand copyright law and its application to digital works Legal aspects of privacy and security are important “background issues”
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5 Economic Principles: Firms
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6 Get Big Fast: Scale and Scope Despite tough year, Amazon's Bezos keeps his chin up By Troy Wolverton, Staff Writer, CNET News.com, (Last modified: November 30, 2000, 10:40 AM PST) Question: Regarding the mantra of "get big fast," do you have any second thoughts about that? Was that the wrong strategy? Bezos: No, it was absolutely the right strategy. If we hadn't pursued that strategy, you would not be interviewing me right now. It wouldn't be worth your time.
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7 Economies of Scale and Industry Structure Q Average Cost P or $/Q Q P or $/Q Market Demand Average Cost Market Demand
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8 Market Size and Industry Structure Q Average Cost P or $/Q Q P or $/Q Market Demand Average Cost Market Demand
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9 Competition and Entry Q $/Q Marginal Cost Average Cost Firm’s Old Demand Curve Market Price = Marginal Revenue Profit- Maximizing Output Firm’s New Demand Curve After Entry
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Singh_Econ139A_S2011_Lec6 (1) - Economic Principles for...

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