LMU Competition & Strategy (ISTO): Recent Episodes
Prof. Dr. Tobias Kretschmer
This course focuses on an applied analysis of competition. Important concepts from industrial organization, game theory, product life-cycle analysis, and industry evolution are discussed. Additionally, important characteristics of network industries such as network effects and standard setting are considered. The concept of competition used in this course is interpreted broadly and also encompasses the analysis of strategic cooperation between firms.
Agenda: Chocolate Wars, Competitor Analysis and Game Theory, Nash Equilibirium, Prisoner's Dilemma, Corunot Game, Credible Threats
Agenda: Competition Policy Instruments, Ban on Cartels, Abuse Control, Merger Control, Competition Authorities
Agenda: Market Attractiveness, Entry Barriers, Entrant's Advantages, Entry Strategies, Incumbent Strategies
Agenda: Definition of Complements, Strategies for Complements, Types of Swichting Costs, Customer Value and Switching Costs, Effects of Switching Costs on Industry Equilibrium
Agenda: Bertrand Paradox, Consumer Preferences, Horizontal Differentiation, Vertical Differentiation, Porter's Generic Strategies, Ambidexterity
Agenda: Direct Network Effects, Indirect Network Effects, Utility Function, Critical Mass, Compatibility & Standards, Market Structure
Agenda: What are M&As?, Goals of M&As, M&A Process, Success of M&As, Alternatives to M&As
Agenda: Why Price Discrimination?, First Degree Price Discrimination, Second Degree Price Discrimination, Third Degree Price Discrimination, Intertemporal Pricing
Agenda: Economies of Scale, Economies of Scope, Diseconomies of Scale & Scope, Reasons to Buy or Make, Double Marginalization, Strategy and Governance Fit