LFU:online

Participants will be acquainted with a wide variety of recent topics related to the economics of digital markets. Material to be covered includes an introduction to the theory of networks, with applications such as search and trade on the web (sponsored search markets, online auctions); antitrust policy on the web; competition under the presence of network effects; standardization and compatibility; (online) markets with intermediated goods and platform competition; “infomediaries” and competition in search markets; intellectual property protection in the digital economy. A solid underpinning in the relevant economic theory, such as applied microeconomic theory, game theory, network theory and the theory of industrial organization, will be provided.

Review of the economics of strategic interaction, introduction to network economics, search and trade on the web, competition with network goods, standardization and compatibility, intermediated goods markets, infomediaries, intellectual property protectionReview of the economics of strategic interaction, introduction to network economics, search and trade on the web, competition with network goods, standardization and compatibility, intermediated goods markets, infomediaries, intellectual property protection

Lecture with exercises

Written exam

-Easley, D. and J. Kleinberg, Networks, Crowds, and Markets, Cambridge University Press, Cambridge, 2010 (online: http://www.cs.cornell.edu/home/kleinber/networks-book/)

-Belleflamme, P. and M. Peitz, Industrial Organization: Markets and Strategies (2nd edition), Cambridge University Press, Cambridge, 2015

-Original research articles