ECON 157 Imperfect Competition

The interaction between firms and consumers in markets that fall outside the benchmark competitive model. How firms acquire and exploit market power. Game theory and information economics to analyze how firms interact strategically. Topics include monopoly, price discrimination, oligopoly, collusion and cartel behavior, anticompetitive practices, the role of information in markets, anti-trust policy, and e-commerce. Sources include theoretical models, real world examples, and empirical papers. Prerequisite: 51.

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