Discussion: Oligopoly and Game Theory

Required reading module 3

You will begin learning about the most basic market structure in this video about perfect competition.

Tabarrok, A. & Cowen, T. [Marginal Revolution University]. (2015, January 2). Introduction to the Competitive Firm.  https://www.youtube.com/watch?v=muFSypea2vo

Now read Chapters 9 and 10 from the following book for more detail on these topics.  In particular, pay attention to the numerical examples and the “Self-Check Questions” at the end of each section.

Taylor, T. (2014) Microeconomics. OpenStax College.  http://cnx.org/contents/[email protected]:WXgRcPaN@10/Introduction-to-a-Monopoly

 

 Finally, read this slightly more advanced chapter. Pay special attention to the sections at the end on game theory and the “Policy Response to Oligopoly” section that covers the Herfindahl index:

 

Beveridge, T. M. (2013). Chapter 8: Between perfect competition and monopoly. A Primer on Microeconomics. [New York, N.Y.] [222 East 46th Street, New York, NY 10017]: Business Expert Press.