2 October 2012: Introduction to the Economics of Competition Policy (Valter Sorana)
Dimensions of competition—price, quality, innovation; types of competition - static vs. dynamic; economic objectives of competition law; demand and supply; the role of economics in competition policy; the use of the error-cost framework to derive competition uses.
16 October 2012: Firms and Profit Maximisation (Valter Sorana)
Demand, costs, profit maximisation; monopoly and the measurement of market power; the Lerner (price-cost margin) index and its application to the analysis of market power; static versus dynamic analysis and implications for identifying anticompetitive practices.
13 November 2012: Demand, Supply and Welfare (Valter Sorana)
Supply, demand and the notion of equilibrium; the use of the demand and supply framework to predict changes in prices and output (comparative statics); consumer surplus and social welfare.
27 November 2012: Oligopoly and Game Theory (Valter Sorana)
Role of oligopolies in economy; introduction to game theory; static games: Cournot and Bertrand models of oligopoly; dynamic games; applications of game theory in competition policy.
11 December 2012: Cartels and Other Coordinated Practices (Robert Stillman)
The economic theory of collusion; tacit collusion and information exchanges; facilitating factors for cartels; detecting and discouraging cartels; estimation of damages and assessment of fines for cartels.
8 January 2013: Market Definition (Diana Jackson)
Background on case law and economics; demand and supply substitution; hypothetical monopolist test; critical loss analysis; factors that enhance or reduce market power; dominant firm with competitive fringe model.
22 January 2013: Horizontal Mergers (Valter Sorana)
Legal and economic framework; unilateral effects: diversion ratios, pricing pressure indices and merger simulation; coordinated effects; analysis of efficiencies and remedies.
5 February 2013: Pricing Strategies and the Competitive Process (Hans Zenger)
Competition, innovation and welfare; excessive pricing, price discrimination; limit pricing; predatory pricing.
19 February 2013: Exclusive Dealing and Loyalty Rebates (Hans Zenger)
Exclusive dealing and loyalty rebates as part of the competitive process; anticompetitive exclusive dealing; efficiency justifications.
5 March 2013: Tying and refusal to supply (Hans Zenger)
Procompetitive tying, bundling and bundled discounts; anticompetitive tying, bundling and bundled discounts; refusal to supply and intellectual property.
19 March 2013: Non-horizontal mergers (Cristina Caffarra)
Foreclosure incentives and single-monopoly profit theorem; ability to foreclose; vertical integration, complementary products and mergers.