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Oligopoly 2015

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by

James Jeffery

on 14 January 2016

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Transcript of Oligopoly 2015

Collusion vs Non-Collusion
Use your textbooks to define these key terms and BrainBlastTM examples:
tacit collusion
overt collusion
cartels
price leadership
predatory pricing
non-price competition
Handout : How do Cartels Work
Oil and Opec
Cartels that have failed
Australian distributors of power transformers - fine : ASD20m
Electronic Equipment Cartel - Whistleblower firm was let off, but others were fined $500m
Car parts in America - 26 firms - total fine $2bn. Price-Fixing
Envelope Manufacturing in Europe - 5 firms fined by EU for price-fixing
Detergent Industry - 3 firms - whistleblower was let off, Proctor and Gamble and Unilever Fined - 315m EUROs
2 European car companies and 4 Japanese - "Bearings" market - sub-market of automative parts - cartel - total fine 950m EUROS
Nash Equilibrium
Introduction to Game Theory
competition amongst the few
some barriers to entry
including patents, brand proliferation &
sunk costs
compete using non-price strategies
such as customer loyalty schemes

INTERDEPENDENCE

Examples : supermarkets, newspapers, mobile phones, coffee shops
Handout : TSB Shaking up Banking
During your Half Term holiday, please research the work of Ken Binmore
Full transcript