A. Fundamenten en marktwerking HOC 1 ...................................................................................................................... 8
1. Kadering van domein ...................................................................................................................................................... 8
1.1. Wat is bedrijfseconomie? ................................................................................................................................................ 8
1.2. Belangrijke concepten voor managers ............................................................................................................................ 8
1.2.1. Doelen en beperkingen............................................................................................................................................... 8
1.2.2. Winst ........................................................................................................................................................................... 9
1.2.3. Prikkels/incentives .................................................................................................................................................... 10
1.2.4. Markten .................................................................................................................................................................... 10
1.2.5. Tijdsaspect van geld .................................................................................................................................................. 10
1.2.6. Marginale analyse ..................................................................................................................................................... 10
1.2.7. Datagedreven bestuur .............................................................................................................................................. 12
D. Industry and market HOC 4 ................................................................................................................................51
6. Monopolistic competition ..............................................................................................................................................59
6.1. Demand for the individual organization ........................................................................................................................ 60
6.2. Short run & long run ...................................................................................................................................................... 60
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,E. Oligopoly and game theory HOC 5 ..................................................................................................................63
5. No cartel ........................................................................................................................................................................67
5.1. Cournot model ............................................................................................................................................................... 67
5.2. Stackelberg model ......................................................................................................................................................... 68
5.3. Bertrand model .............................................................................................................................................................. 68
F. Public & non-profit economics HOC 6 ..................................................................................................................75
G. Prijsstrategieën & de economie van informatie HOC 7 ..........................................................................................78
1. Inleiding .........................................................................................................................................................................78
1.1. Relevantie voor managers ............................................................................................................................................. 78
2. Productieproces en kosten .............................................................................................................................................78
2.1. Basis prijsstrategieën ..................................................................................................................................................... 78
2.2. Winstmaximaliserende mark-up (monopolie) ............................................................................................................... 78
2.3. Winstmaximaliserende mark-up (cournot) .................................................................................................................... 79
2.4. Nog meer winst.............................................................................................................................................................. 79
2.4.1. Consumentensurplus extraheren ............................................................................................................................. 79
2.4.2. Speciale kosten- en vraagstructuren ........................................................................................................................ 82
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, 2.4.3. Prijszetting onder prijscompetitie............................................................................................................................. 82
3. De economie van informatie ..........................................................................................................................................83
3.1. Verwachte waarde ........................................................................................................................................................ 83
3.2. Variantie ........................................................................................................................................................................ 83
3.3. Verwachte waarde en variantie .................................................................................................................................... 84
3.4. Onzekerheid en consumentengedrag ............................................................................................................................ 84
3.5. Implicaties risicoaverse consumenten ........................................................................................................................... 84
3.6. Zoekkosten consumenten .............................................................................................................................................. 85
3.7. Onzekerheid en het management ................................................................................................................................. 85
3.8. Zoekkosten producenten ............................................................................................................................................... 86
3.9. Winstmaximalisatie ....................................................................................................................................................... 86
3.10. Onzekerheid en de markt............................................................................................................................................... 86
3.11. Adverse selectie ............................................................................................................................................................. 87
3.12. Moral hazard ................................................................................................................................................................. 87
3.13. Signaling ........................................................................................................................................................................ 87
3.14. Screening ....................................................................................................................................................................... 87
3.15. Veilingen ........................................................................................................................................................................ 88
3.15.1. Types veilingen..................................................................................................................................................... 88
3.16. Informatie ...................................................................................................................................................................... 88
3.17. The winner’s curse ......................................................................................................................................................... 88
4. De economie van platformen .........................................................................................................................................89
4.1. Multi-sided platformen .................................................................................................................................................. 89
4.2. Analyse van MSP’s ......................................................................................................................................................... 89
4.3. Problemen met grote MSP’s .......................................................................................................................................... 90
4.4. Digital markets act ........................................................................................................................................................ 90
4.5. Digital services act ......................................................................................................................................................... 90
H. Competition policy & digital intermediation platforms: European antitrust & the African perspective Gastcollege 1
91
1. Intermediation and platforms ........................................................................................................................................91
1.1. Intermediation via resellers ........................................................................................................................................... 91
1.2. Intermediation via platforms ......................................................................................................................................... 91
1.3. Platforms ....................................................................................................................................................................... 91
2. Digital platforms, with a focus of digital intermediation platforms .................................................................................93
2.1. Digital platforms ............................................................................................................................................................ 93
2.2. How do digital platforms differ? .................................................................................................................................... 93
2.3. Digital intermediation platforms ................................................................................................................................... 93
2.4. Helping assets move to higher uses ............................................................................................................................... 94
, 3.3. Multi-homing incentive is often limited ......................................................................................................................... 96
3.4. Scale is important to platform competition ................................................................................................................... 97
3.5. Network effects: temporal variation ............................................................................................................................. 97
3.6. Network effects: spatial variation ................................................................................................................................. 98
3.7. Network effects: different for different products .......................................................................................................... 98
3.8. Will Amazon eventually dominate e-commerce markets everywhere? ......................................................................... 99
3.9. When digital prowess meets physical challenges .......................................................................................................... 99
3.10. Impact on policy: sharpened merger review................................................................................................................ 100
3.11. Impact on policy: addressing abuses of dominance .................................................................................................... 100
3.12. Peering into the crystal ball? ....................................................................................................................................... 102
I. Potential competition in digital platform markets: US and European entrants vs African monopolists?
Gastcollege 2 .........................................................................................................................................................................103
1. Introduction .................................................................................................................................................................103
1.1. Recap of Lecture 1 ....................................................................................................................................................... 103
1.2. This evening ................................................................................................................................................................. 103
1.3. Potential competition .................................................................................................................................................. 104
1.4. Potential competition and digital platforms................................................................................................................ 104
2. WeBuyCars case ...........................................................................................................................................................105
2.1. South Africa – a mix ..................................................................................................................................................... 105
2.2. South Africa – familiar pics .......................................................................................................................................... 106
2.3. Cars!............................................................................................................................................................................. 106
2.4. MIH/WeBuyCars .......................................................................................................................................................... 106
2.5. MIH/WeBuyCars creates portfolio effects ................................................................................................................... 109
2.6. MIH/WeBuyCars removes FCG as entrant ................................................................................................................... 110
3. Comparison to the EU experience.................................................................................................................................110
3.1. EU digital merger review ............................................................................................................................................. 110
4. Reflecting on the risks ..................................................................................................................................................112
4.1. Potential competition: the right focus for digital merger review?............................................................................... 112
5. Conclusions ..................................................................................................................................................................113
5.1. Digital competition policy and broader antitrust ........................................................................................................ 113
5.2. General take-aways ..................................................................................................................................................... 114
J. African exploits: Wrestling with digital platform dominance & its impact on small business Gastcollege 3...........115
1. Introduction .................................................................................................................................................................115
1.1. Recap of lecture 1 & 2.................................................................................................................................................. 115
1.2. This evening ................................................................................................................................................................. 115
1.3. Exploitative abuse – what is it? ................................................................................................................................... 116
1.4. Exploitative abuse – why so limited? ........................................................................................................................... 117
2. Trends in exploitative abuse policy and its digital application.......................................................................................117
2.1. Exploitative abuse cases: general trends ..................................................................................................................... 117
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, 2.2. Exploitative abuse cases: digital trends ....................................................................................................................... 118
2.3. Exploitative abuses in digital markets: looking at different user groups ..................................................................... 118
2.4. Exploitative abuses in digital markets: looking at different concerns ......................................................................... 119
2.5. Main challenge in exploitative abuse cases ................................................................................................................. 119
2.6. Further challenges in digital exploitative cases ........................................................................................................... 120
3. Discriminatory terms and pricing concerns in digital platforms .....................................................................................121
3.1. Budeskartellamt / Facebook2019 ................................................................................................................................ 121
3.2. Past behaviour is the preferred benchmark................................................................................................................. 123
3.3. Price discrimination – SA digital examples .................................................................................................................. 124
3.4. Price discrimination – evaluating harm ....................................................................................................................... 125
4. Conclusion....................................................................................................................................................................125
4.1. After three lectures ...................................................................................................................................................... 125
K. Platformen en investeringsanalyse HOC 11 .........................................................................................................126
1. Herhaling .....................................................................................................................................................................126
1.1. Multi-sided platformen ................................................................................................................................................ 126
1.2. Problemen grote MSP’s ............................................................................................................................................... 126
1.3. Digital markets act ...................................................................................................................................................... 127
1.4. Digital services act ....................................................................................................................................................... 127
2. Inleiding .......................................................................................................................................................................127
2.1. Relevantie voor managers ........................................................................................................................................... 127
3. Investeringsanalyse ......................................................................................................................................................128
3.1. Incrementele kasstromen ............................................................................................................................................ 128
3.2. Verdisconteren en oprenten ........................................................................................................................................ 128
3.3. Vuistregel investeringsverdubbeling............................................................................................................................ 129
3.4. Voorbeeld verdisconteren ............................................................................................................................................ 129
3.5. R berekenen in een bedrijfscontext.............................................................................................................................. 130
3.6. Investerinen waarderen en rangschikken .................................................................................................................... 130
3.7. Net present valua ........................................................................................................................................................ 130
3.7.1. Risico en sesitiviteitsanalyse ................................................................................................................................... 131
3.7.2. Beperkingen net present value ............................................................................................................................... 131
3.8. Internal rate of return .................................................................................................................................................. 132
3.9. Terugverdientijd .......................................................................................................................................................... 132
3.10. Rentabiliteitsindex ....................................................................................................................................................... 133
3.11. Break-even analyse ...................................................................................................................................................... 133
3.12. Link break-even analyse en marginale analyse ........................................................................................................... 133
3.13. Sluitingsbeslissingen en break-evenprijzen .................................................................................................................. 133
3.14. Overzicht complementariteit ....................................................................................................................................... 134
7
, A. Fundamenten en marktwerking HOC 1
1. Kadering van domein
1.1. Wat is bedrijfseconomie?
Economie is de wetenschap van het maken van beslissingen onder de conditie van schaarste (het idee dat
middel in het algemeen niet oneindig zijn en daardoor moeten mensen/organisaties keuzes maken m.b.t. de
middelen die ze tot hun beschikking hebben. bv. financiële middelen, werknemers, tijd)
Bedrijfsmanagers richten zich op het beheren van middelen om bepaalde doelen te bereiken
Bedrijfseconomie is de studie van het efficiënt inzetten van schaarse middelen om organisatiedoelen te
bereiken
Insteek: begrip van economische principes is cruciaal voor effectieve besluitvorming met oog op doel van
het bedrijf, met name winstmaximalisatie en waardevergroting
Die keuzes hebben betrekking op alle soorten van departementen, takken binnen een bedrijf:
• Bv. keuzes over productprijzen, kwaliteit, productiehoeveelheden, HR, etc.
• Bv. omgaan met acties van concurrerende bedrijven
• Bv. projectevaluatie (kosten en baten)
• Bv. markanalyse
• Bv. inzetten van technologie
• Bv. internationaliseringsbeslissingen
1.2. Belangrijke concepten voor managers
1) Doelen en beperkingen
2) Belang van (economische) winst
3) Incentives/prikkels
4) (Implicaties van) marktmechanismen
5) Tijdsaspect van geld
6) Marginale analyse voor optimalisatie
7) Datagedreven besluitvorming
1.2.1. Doelen en beperkingen
Belang van het definiëren van duidelijke doelen
• Grote impact op beslissingen
Beperkingen zorgen aan nood voor keuzes (schaarste)
• Bv. budget
• Bv. beschikbare technologie (denk aan chatgpt à neemt heel wat schrijfwerk weg)
• Bv. 24u in één dag (hoe kunnen we u als persoon best inzetten om de doelen die we voor ogen
hebben als bedrijf te realiseren?)
Verschillende departementen in één organisatie kunnen verschillende doelen hebben
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