Lipsey & Chrystal: Economics 11e 
Economics in the news
Figures from the textLipsey & Chrystal: Economics 11e
Chapter 09
This story highlights the role of technological innovation as a strategic force for competition (as discussed on page 197).
Financial Times, Wednesday, July 25, 2007
search.ft.com/ftArticle?queryText=Biters+bit%3A+how+web+giants+are+losing+business+as+start-ups+scurry+in&y=5&aje=true&x=16&id=070724011254
The following two articles link to our coverage of cartels in Chapter 8 and the potentially cooperative behaviour of oligopolies in Chapter 9.
Financial Times, Tuesday, August 2, 2007
www.ft.com/cms/s/80a2dcf2-4094-11dc-9d0c-0000779fd2ac.html
Financial Times, Tuesday, August 2, 2007
www.ft.com/cms/s/0/86770a1c-40a4-11dc-9d0c-0000779fd2ac.html
The following indicates an attempt at a strategic reaction from the oil producers' cartel OPEC (Chapter 8 for OPEC, and also relevant is the discussion of strategic interaction in Chapter 9 under "Oligopoly") who clearly felt threatened by the wave of interest in finding substitutes for oil. The report implies that OPEC would not invest if they thought their market was threatened and this would drive oil prices even higher. However, the paradox is that even higher oil prices would create an even bigger incentive to seek substitutes, so it is not clear that this is a very sensible line for OPEC to push.
Financial Times, Wednesday, June 6, 2007
search.ft.com/ftArticle?queryText=Drive+on+biofuels+risks+oil+price+surge&y=5&aje=true&x=9&id=070606000835
The following story relates to collusion by oligopolists
news.bbc.co.uk/1/hi/business/7004054.stm
The following are stories about price wars in (typically) oligopolistic markets:
BBC, Thursday, February 21, 2008
http://news.bbc.co.uk/1/hi/business/7256918.stm
BBC, Tuesday, August 17, 2004
http://news.bbc.co.uk/1/hi/business/3572436.stm
The Guardian, Friday, August 8, 2008
www.guardian.co.uk/business/2008/aug/08/ryanair.theairlineindustry
The Guardian, Wednesday, July 30, 2008
www.guardian.co.uk/business/2008/jul/30/petrolprices.asda
The Independent, Wednesday, July 23, 2008
www.independent.co.uk/news/business/news/supermarkets-in-petrol-price-war-as-oil-prices-drop-874991.html
The Telegraph, Thursday, July 31, 2008
www.telegraph.co.uk/news/uknews/2479984/Price-war-in-school-clothing.html
The Daily Mail, Saturday, July 5, 2008
www.dailymail.co.uk/news/article-1031944/Currys-sets-television-price-war-cutting-300-sets.html
Thisismoney.co.uk, Monday, August 11, 2008
www.thisismoney.co.uk/news/article.html?in_article_id=449540&in_page_id=2&position=moretopstories
Financial Times, Wednesday, July 30, 2008
www.ft.com/cms/s/0/af975932-5e5e-11dd-b354-000077b07658.html
Print this page