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iolectures

iolectures

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Published by tanvir5

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Published by: tanvir5 on Apr 20, 2009
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ch-11INDUSTRIAL ORGANIZATION
2 major approach:-Structure conduct performance [SCP] developed by Mason and Bain]-Price theory. Structure (number and size of firms, their cost and demandconditions, the nature of their products, condition of entry and degreeof regulation)Conduct (decision about pricing and output, investment, marketing,and product design)Performance (allocative efficiency, profitability, equity, employmenteffects and rate of innovation)
 
ch-12INDUSTRIAL ORGANIZATION
Basic Market ConditionsDemand Condition Supply Conditions
Price elasticitytechnologySubstitutesRaw MateraialsMarket Gorwth UnionizationType of GoodProduct DurabilityMethod of PurchaseLocation
Market Structure
 Number of sellers and buyersProduct differentiationBarriers to entry and exitVertical integrationDiversificationCoast structures
Conduct
Pricing strrategiesProduct strategiesAdvetisingResearch and developmentPlant investmentCollusionMergersLegal Strategies
Performance
Allocative efficiencyProduction efficiencyRateof technological advanceQuality and serviceEquity
Government policies
Antitrust policiesRegulationTaxes and subsidiesTrade RegulationsPrice controlsWage regulationInvestment incentivesEmployment incentivesMacroeconomic policies
 
ch-13INDUSTRIAL ORGANIZATION
Price Theory: the following three specific theoretical applications havehelped to explain SCP.-Transaction cost [TC] analysis-Game theory-Contestable market analysisTransaction cost : expenses of trading with others and above beyondthe price. The following are the four basic concepts that underlie thistheory
 – Markets and firms are alternative means for completing related sets of transaction. A firm can either buy or produce a product or service] – The relative cost of using the markets’ or a firm’s own resources shoulddetermine the choice. – The TC of writing and executing complex contract vary across markets asthe human behavior of the writers vary. – Human and environmental factors affect the TC across markets andwithin firms.

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