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Industrieöko > General > Flashcards

General Flashcards

1
Q

Whats the SCP Approach?

A

Structure-Conduct-Performance Approach
1. analysis of Market structure (nr of sellers, product differenciation, cost structure, preferences)
2. firms econ conduct: price, investment, ads
3. performance: efficiency, ratio of prices to MC, profits…

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2
Q

Characteristics of SCP Approach

A
  1. Marcet structure exogenous
  2. loose theoretical/formal foundation
    3: econometric analysis using cross-section data (inter-industry studies)
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3
Q

economic rationality

A

individual maximization of individual utility (subject to restrictions)

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4
Q
A
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Industrieöko (8 decks)

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