market power - Economics Students Society of Australia

market power

A collection of 9 posts

The Economics of Pornography Stripped Down

anti-competitive conduct

The Economics of Pornography Stripped Down

Globally, porn is one of the top 10 consumers of bandwidth,[1] with popular sites such as Pornhub attracting 64 million daily visitors and accumulating 5,246 centuries worth of watched content in 2016 alone.[2] However, this internet giant is hardly a household name, operating quite literally under the

Taylor Swift isn’t your average monopolist: Part 2

Taylor Swift isn’t your average monopolist: Part 2

In Part 1, Justin outlined the novel business model of music-streaming services. The picture of the music industry painted so far is rather bleak—it’s difficult for an artist to earn money. Unless you are Taylor Swift. Swift’s music has been very well received by critics, and has

Taylor Swift isn’t your average monopolist: Part 1

Taylor Swift isn’t your average monopolist: Part 1

Last year, Taylor Swift took a stance against the rapid rise in music-streaming services and pulled her immensely popular albums from Spotify, signalling that streaming music services weren’t sustainable for artists. At the heart of the issue is the business model of music-streaming services. Major players like Spotify, Rdio

The classroom monopoly – why graphing calculators cost so much

graphing calculators

The classroom monopoly – why graphing calculators cost so much

The recent unveiling of the iPhone 6 and Apple Watch reminds us how far consumer technology has come in the last decade. In 2004, $300 could buy you an iPod capable of holding 10GB of music – no videos, photos or apps. Today, $300 can get you a 32GB iPod Touch,

Is the Co-op Bookshop providing value for its members?

Is the Co-op Bookshop providing value for its members?

Economics 101 is that a monopoly is fundamentally any enterprise with substantial ‘market power’ – that is, the capacity to set prices and cut back on quantity with little, if any, response from customers. While most monopolies arise through natural monopoly conditions (for example, essential services including water and electricity distribution)

Competition and the law – economically sound, or theoretically patchy?

Australian competition law

Competition and the law – economically sound, or theoretically patchy?

If you look across today’s media, discussion about the level of modern competition appears to be everywhere. Headed by Coles and Woolworths, Australians are slowly seeing numerous facets of their everyday lives taken over by the large conglomerates – petrol, insurance, let alone the (decreasing number of) brands that can

Why the AFL is killing Australian sport

Every Victorian knows who Lance ‘Buddy’ Franklin is, who Nathan Buckley is, and who James Hird is. Even non-supporters know these names, because AFL is so ingrained in Victorian culture and lifestyle that is almost impossible to avoid them. However if you ask an average Victorian who James Horwill is,

From little things big things grow

From little things big things grow

The history of Coles and Woolworths in Australia has been an impressive one. Both being around with us since our nation’s infancy, they still remain with us today as the two major supermarkets in modern Australia. In many ways, they are a part of our national identity. Yet their

Advertising Part 2 - The Empirics of Advertising and Sales

Advertising Part 2 - The Empirics of Advertising and Sales

At long last our arduous obligation as students are temporarily over! Following up from the previous article, I will introduce some empirical findings in the literature that help us better understand ‘advertising’. I am going to split the summary of empirical findings into two articles and here we will look