Microeconomic Theory
Microeconomic Theory
The Department of Economics at the University of Warwick has an active Microeconomic Theory Research Group, with a weekly external seminar, a weekly internal workshop, and high quality PhD students. We also organise international conferences on campus, or in Venice.
Our activities
CRETA Seminars in Economic Theory
Wednesday: 4-5.30pm
Since its creation in 2006, CRETA has run a seminar series with external and internal talks on economic theory and applications. For a detailed scheduled of speakers please follow the link below:
Organisers: Daniele Condorelli and Costas Cavounidis
Micro Theory Work in Progress (MIWP) Workshop
Thursday: 1-2pm
For faculty and PhD students at Warwick and other top-level academic institutions across the world. For a detailed scheduled of speakers please follow the link below.
Organiser: Agustin Troccoli-Moretti
People
Academics
Academics associated with the Reseach Group Name research group are:
Events
CRETA Theory Seminar - Andrew Newman (Boston)
Title: Competing for the Quiet Life: An Organizational Theory of Market Structure (with Patrick Legros and Zsolt Udvari).
ABSTRACT: We develop an incomplete-contracts model of endogenous market structure for a homogeneous-good industry. A large number of identical incentive-constrained producers each decide whether to stand alone as price-taking competitors, or to horizontally integrate with others by selling their assets to profit-motivated professional managers, who then Cournot compete in the product market. Despite the absence of significant technological non-convexities, the equilibrium market structure is often an oligopoly, demonstrating that contracting imperfections are a distinct source of market power. Unlike standard endogenous entry models, concentration may increase with the size of market demand. We discuss some implications for competition policy. We also consider extensions that allow for variation in the degree of contractibility, entry of additional producers into the market, and the emergence of an endogenous competitive fringe.