Markets and regulations set the rules for how firms interact with consumers in virtually all sectors of the economy. Are markets performing as expected? How could their design be improved? What happens to markets in the presence of disruptive technologies, or business models, or regulations?
To address these issues, our researchers have gained detailed knowledge of key industries that they can analyze in detail. Theoretical models can help us understand how market rules and regulations are impacting important metrics of market performance, such as prices, competition, or quality. These theoretical models can also bring insights on ways in which such markets could be improved. Empirical tools can be developed to test these theoretical predictions and quantitatively explore the impact of alternative rules.
Key areas covered are:-
- IO Theory: game theory, incentive theory, dynamic models, political economy
- Competition, merger policy, anti-trust
- The Economics of Regulation
- Market Design and Auctions
- Network Industries: competition and regulation
- Dynamics of Industry: evolution, entry and exit
- Information Externalities, Coordination Problems, Investment and R&D
- The Interface between IO and Finance: market structure and financial structure