The Theory of Industrial OrganizationMIT Press, 26/08/1988 - 496 من الصفحات The Theory of Industrial Organization is the first primary text to treat the new industrial organization at the advanced-undergraduate and graduate level. Rigorously analytical and filled with exercises coded to indicate level of difficulty, it provides a unified and modern treatment of the field with accessible models that are simplified to highlight robust economic ideas while working at an intuitive level. To aid students at different levels, each chapter is divided into a main text and supplementary section containing more advanced material. Each chapter opens with elementary models and builds on this base to incorporate current research in a coherent synthesis. Tirole begins with a background discussion of the theory of the firm. In Part I he develops the modern theory of monopoly, addressing single product and multi product pricing, static and intertemporal price discrimination, quality choice, reputation, and vertical restraints. In Part II, Tirole takes up strategic interaction between firms, starting with a novel treatment of the Bertrand-Cournot interdependent pricing problem. He studies how capacity constraints, repeated interaction, product positioning, advertising, and asymmetric information affect competition or tacit collusion. He then develops topics having to do with long term competition, including barriers to entry, contestability, exit, and research and development. He concludes with a "game theory user's manual" and a section of review exercises. Important Notice: The digital edition of this book is missing some of the images found in the physical edition. |
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... Surplus. Once some of the assumptions of competitive-equilibrium analysis are relaxed, very little can be said about economic allocations without more specific assumptions, as the “theory of the second best” has taught us. One of the ...
... surplus: Consider the market for a single good. The demand for this good is assumed to decrease with its own price ... surplus is also sometimes called the Marshallian consumer surplus—see Marshall 1920, p. 811. Henceforth, we will call ...
... surplus v1 purchases if and only if vi − p0, because he was willing to pay v1. The second consumer realizes a surplus v2 − p0, and so forth until the marginal consumer (call him n), who realizes approximately no surplus. The total ...
Jean Tirole. Figure 1 Consumer surplus. Sn is the net consumer surplus. The gross consumer surplus, Sg, is equal to the net consumer surplus plus the consumer expenditure p0D(p0). p denotes the choke-off price (the lowest price at which ...
... surplus plus the producer surplus. The total surplus is maximized when the consumer price is equal to the marginal cost (p0 in figure 2). A famous application of this is the derivation of a monetary measure of the welfare loss (“dead ...