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READING
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Theory of the firm
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Property Rights Model
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Price discrimination and Vertical Restraints
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Principle Agent
TEXT: Chapters 18, 19
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Barzel, Y Measurement
Cost and the Organization of Markets JLE Vol. 25 (Apr 1982) pp 27-48
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Cheung, S.N.S.The
Contractual Nature of the Firm, JLE (April 1983)
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Cheung, S.N.S., A
Theory of Price Control, JLE (April 1974) pp 53-71
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Coase, R. "The
Problem of Social Cost", JLE, pp1-44 Oct. 1960
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Jensen and Meckling, Theory
of the Firm: Managerial Behavior, Agency Costs and Ownership Structure,
Journal of Financial Economics, October, 1976, V. 3, No. 4, pp. 305-360
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Klein, B & Leffler, K., The
Role of Market Forces in Assuring Contractual Performance, JPE Vol
89, No 4 (Aug. 1981) pp615-641
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Klein, B. "Transaction Cost
Determinants of "Unfair" Contractual Arrangements" AER (1980)
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Klein, Benjamin; Kevin M. Murphy Vertical
Restraints as Contract Enforcement Mechanisms Journal of Law and
Economics > Vol. 31, No. 2 (Oct., 1988), pp. 265-297
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Klein, Benjamin; Kevin M. Murphy, Vertical
Integration as a Self-Enforcing Contractual Arrangement; The American
Economic Review > Vol. 87, No. 2, Papers and Proceedings of the Hundred
and Fourth Annual Meeting of the American Economic Association (May, 1997),
pp. 415-420
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Mathewson, F. and Winter, R. "The
Economics of Franchise Contracts," The Journal of Law and Economics,
Oct. (1985) 503-526
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Milgrom, Paul; John Roberts Economic
Theories of the Firm: Past, Present, and Future The Canadian Journal
of Economics, Vol. 21, No. 3. (Aug., 1988), pp. 444-458.
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Wainwright, K. “Dual
organizational structures of franchise contracts” discussion paper
(May 2002)
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Market structure
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Oligopoly
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Dixit and Stackelberg Models
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Bertrand versus Cournot models
TEXT: Chapters 9, 10, 11
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Dixit, Avinash, Recent
Developments in Oligopoly Theory, AER, Vol. 72 No. 2, Papers and Proceedings
(May 1982) pp 12-17
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Eaton, B.C., & Ware, R., A
Theory of Market Structure with Sequential entry, Rand Journal, Vol
18, No 1 (Spring 1987) pp 1-16
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Kreps, David M; Jose A. Scheinkman,Quantity
Precommitment and Bertrand Competition Yield Cournot Outcomes
The Bell Journal of Economics, Vol. 14, No. 2. (Autumn, 1983), pp. 326-337.
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Singh Nirvikar; Vives, Xavier Price
and Quantity Competition in a Differentiated Duopoly The
RAND Journal of Economics, Vol. 15, No. 4. (Winter, 1984), pp. 546-554.
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Monopoly and Entry Barriers
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Limit Output
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Contestable Markets
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Predatory Pricing
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The role of capacity
TEXT: Chapters 12, 13
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Baumol, William J.Contestable
Markets: An Uprising in the Theory of Industry Structure The
American Economic Review, Vol. 72, No. 1. (Mar., 1982), pp. 1-15.
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Baumol & Willig, Contestability:
Developments since the Book, Oxford Economic Papers, Vol 38,
Supplement: Strategic Behavior and Industrial Competition (Nov 1986) pp
9-36
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Dixit, Avinash, A
Model of Duopoly Suggesting a Theory of Entry Barriers, Bell Journal
of Economics, (Spring 1979)
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Dixit, Avinash The
Role of Investment in Entry-Deterrence The Economic Journal,
Vol. 90, No. 357. (Mar., 1980), pp. 95-106.
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Eaton, B.C., & Lipsey, R., Exit
Barriers are Entry Barriers: The Durability of Capital as a Barrier to
Entry, Bell Journal Vol 11, No 2 (Autumn 1980) pp 721-729
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Milgrom, Paul; John Roberts Limit
Pricing and Entry under Incomplete Information: An Equilibrium Analysis
Econometrica, Vol. 50, No. 2. (Mar., 1982), pp. 443-460.
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Product differentiation
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Monopolistic Competition
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Spatial Models
TEXT: Chapter 7
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Barzel, Y. Excess
Capacity in Monopolistic Competition, JPE Vol. 78 No. 5 (Sep-Oct 1970)
pp 1142-1149
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Eaton, B.C., & Lipsey, R., An
Economic Theory of Central Places, EJ, Vol 92, No. 365 (Mar. 1982)
pp 56-72
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Eaton, B.C., & Lipsey, R., The
Theory of Market Pre-emption: The Persistence of Excess Capacity and Monopoly
in Growing Spatial Markets, Economica, New Series, Vol 46, No 182 (May
1979) pp 149-158
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| Information, Advertising,
and Signalling
TEXT: Chapters 20, 21
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Klein, B & Leffler, K., The
Role of Market Forces in Assuring Contractual Performance, JPE Vol
89, No 4 (Aug. 1981) pp615-641
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Milgrom, Paul; John Roberts Price
and Advertising Signals of Product Quality The Journal of Political
Economy, Vol. 94, No. 4. (Aug., 1986), pp. 796-821.
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Rothchild, M and Stiglitz, J. “Equilibrium
in competitive insurance markets: an essay on the economics of imperfect
information” QJE, 90, 1976
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Spence, M. Job
Market Signaling, QJE, Vol 87, No 3 (Aug 1973) pp 355-374
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| Anti-Trust, Regulation,
and competitive behaviour |
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