LFU:online

Students will be introduced to basic concepts of network economics and algorithmic market design and learn to assess the economic consequences of landmark business models for digital markets. Emphasis will be given to the design of search engines and exchange platforms, and the relationship between design, market power, efficiency, and justice in the digital economy.

The course provides an introduction to the economics of landmark business models in digital markets. A discussion of basic concepts of network economics and algorithmic market design will allow for a critical assessment of search engines and platforms for the exchange of commodities and (social) media content. A specific emphasis will be given to past, present, and potentially future policy responses to market power, innovativeness, and justice in digital markets.

The course will consist of lectures provided as podcasts and assignments with feedback during online-discussions (chats and live-sessions).

Regular take-home assignments.

Easley, D. and J. Kleinberg, Networks, Crowds, and Markets, Cambridge University Press, Cambridge 2010.

Belleflamme, P. and M. Peitz, The Economics of Platforms, Cambridge University Press,
forthcoming.

Both sources and further readings will be provided on OLaT.