This is a Chinese version of Competitive Strategy. You can find the original course in English from our course catalog. 此版本是Coursera首次尝试推出的中文翻译版。课程视频为英文原版附中文字幕，课程页面和测验已译成中文，帮助中心提供中文支持。 在本课程（共六个模块）中，你将了解企业在战略决策相互依存的情况下如何行事。例如，你的行动会如何影响竞争对手的利润，反之亦然。我们将会借助博弈论的基本工具分析企业如何选择策略以获得竞争优势。
垄断者 Monopolist
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Del curso dictado por Ludwig-Maximilians-Universität München (LMU)
竞争策略（中文版）
438 calificaciones
De la lección
为何要关注研发？Why Worry About Research and Development
在探讨研发的时候，一些重要的策略问题会反复出现。我们将通过本模块仔细研究这些问题。不少创新的诞生的确是源自好运气，但似乎毋庸置疑——大部分时候是因为创新者积极努力实现某个具体的发明。
Conoce a los instructores
Tobias KretschmerProfessor
Institute for Strategy, Technology and Organization
So, in the previous video, we've looked at the value of an innovation for a firm
coming out of a competitive market. And the way we did that, is we looked at
the profits of the firm within the competitive market, and then after the
innovation. So, how much is a firm willing to pay for
an innovation that puts it out of a competitive situation?
And we're now going to do the same thing in this video for monopolists.
So, we'll take exactly the same setting of 100 consumers of which 60 have a high
willingness to pay, 40 have a low willingness to pay.
We take the same production technology of 300 Euros, that's the existing one.
And the process innovation that's on offer, if you wish, is one that lowers
your production cost from 300 to 200 Euros. And again, the monopolist will have to
figure out how much they're willing to spend for this innovation?
A monopolist represents a single firm producing, and selling motorcycles.
There is no threat of entry by competitors.
So we're going to relax that in the coming video, but for now, we'll just
assume that there is no potential entrant that could come, and take the place of the
monopolist. What are the profits of the monopolist
without innovation? Again, we're facing production costs of
300 Euros. And we can basically set one of two
prices. Either 500 Euros and sell to the
high-value consumers, or 400 Euros and sell to all consumers.
So, with 500 Euros, we get 60 consumers that buy the motorbike, and we get
profits of 60, that's the number of consumers, times 500, that's the sales
price minus 300, that's the production cost, which is going to be 60 times 200
equal to 12,000, right? So, if we set a price of 500 Euros our
profits are going to be 12,000. But if we set a price of 400 Euros?
Well, in that case, we're going to sell to everyone.
And again, we can derive our profits, that's going to be
100 times 400, our sales price, minus 300, our production costs.
So, of course, the profit margin has gone down, but the quantity has gone up.
So, we have 100 times 100, which is 10,000.
So just from comparing those two, we'll find that the best strategy that the
monopolist can do that, that he can choose, without innovation is to set a price of
500 Euros. So, what now are the profits of the
monopolist, if he acquires the innovation?
Again, this is going to reduce production costs from 300 to 200 Euros.
And again, we're looking at the two prices, 500 and 400 Euros.
With 500 Euros, we're going to sell to 60 consumers, and we can derive what the
profits are. Profits are going to be 60 times 500
Euros minus 200 Euros, because our profit margin has gone up.
That's going to be 60 times 300 or 18,000.
If we set a price of 400 Euros, again we're going to sell to everyone.
And we're going to make profits of 100 times 400 Euros minus 200, which is going
to come to 100 times 200 or 20,000. So if you look at those two, again we'll
find that now something's changed, because the monopolist is now better off
actually charging the low price rather than the high price.
And he's therefore, also going to sell to 100 consumers instead of only 60 as he
did with the higher production cost. And again, we can find out what the value
of innovation is, by simply comparing profits before and profits after the
innovation. So, with innovation, our profits are
going to be 20,000. Without innovation, our profits are
going to be 12,000, so therefore, the overall value of the innovation is going
to be 20 minus 12, is going to be 8,000 Euros.
So, we now figured out the value of innovation both for the competitive firm
in the previous video, and the firm in the monopolistic setting in this video.
So if we compare the two, we will find out that in a competitive market the
difference between innovating and not innovating was 9,900 Euros.
In a monopolistic setting, the difference is 8,000 Euros.
And remember, the overall profits from being a monopolist, were 20,000.
So it's not about the overall level of profit, but it's about the difference
between with the innovation and without the innovation.
So, therefore, we can derive what we think of what we can call the replacement
effect. So, the replacement effect shows that, for
a given market structure, a monopolist has less of an incentive to innovate,
because he has a higher level of pre-innovation profits.
So, simply comparing those two, we'll find that in a competitive market the value of
innovating is actually higher than for a monopolist.
And as we'll see in the next video, this is going to depend very much on the fact
that the monopolist, in our setting here, if he doesn't innovate he's just going to
remain a monopolist, but he's going to remain with a high
production cost. And in the next video, we'll look at the
similar setting, but now there's a threat of entry.
So, stay tuned and we'll see how we can wrap this topic up.
Thanks.
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