Markets and Market Failure in the Real Situations

Harvard HKS

The course focuses on instances where the standard models of perfectly competitive markets do not accurately describe a real-world event, occurrence or behavior. The course is intended to highlight areas and topics where the basic models of supply and demand do not function because some of the underlying assumptions do not hold: Perfect Information, Identical Goods or Services, No Market Power, Ease of Entry into Markets, Infinite Buyers and Sellers. The course will work through markets and…