Markets, Monopoly, and Competition
Nowadays, the field of Industrial Organization is one of the most interesting, exciting, and relevant fields in economics. Industrial Organization relaxes the assumption that firms lack market power. What if firms do have an influence on market prices, on products that are being offered, perhaps even on the way a market is organized? What happens to market outcomes if there are market frictions, such as search or switching costs? What happens if consumers are not fully rational? Can firms take advantage of that, or will such attempts backfire in a competitive environment? These are all questions Professor Marco Haan considers in his research.
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