Interestingly Jio entered the Indian wireless communications market, which has monopolistic features, but the incumbent Airtel didn't reduce the price. Perhaps Airtel thought Marginal cost will push Jio out the market. Unfortunately for them, it was rolled out by one of the richest people in the world and the "huge fixed cost" was financed without affecting the rollout and Jio could actually fight on the equal footing (Actually on a superior footing since they used more advanced technology !!).
You can observe the investors on Shark Tank as well, they don't invest in companies unless they have a scientifically proven approach to anything i.e A Patent, Clinical Trials, efficient Supply Chain, both Offline and Online presence etc. Otherwise a bigger business will just eat them up.
He's not understood the hub and spoke system. The hub and spoke system means you have a small number of large airports which act as "hubs" and then the smaller airports act as "spokes". Most flights go from hub to hub (see Amsterdam in Europe) and then you get a connecting flight out to the smaller "spoke" airport (e.g. Minneapolis) after this. What has happened is that the spoke has been monopolised. The reason you don't just build a second airport is because it doesn't make sense to pay the market entrance cost for a smaller city. The problem he is describing is a failure of regulation
31:50 shows that Professor Gruber believes that the public is dumb, and would take their kids out of school to go to some unaccredited school. You do not offer a school that offers less quality then the public school. I just really don't understand the cons to vouchers.
A lot of studies were done about this. The result is that more educated parents(usually of higher income) can better chose the best schools, and so they take more advantage of the vouchers than the less educated ones. So, at the end, the vouchers benefit richer families more than they benefit poor families. You can let dumb people decide their own fate, but not the fate of children.
It would be amazing if you could post release the video lectures of 14.41 - Public Finance and Public Policy (35:07)!
0 dislikes, that means no folks from Harvard are watching 😂
Amazing professor! Thanks a lot!
Absolutely well done and definitely keep it up!!! 👍👍👍👍👍
Please do not stop making this content
This video has really been very helpful .❤
Interestingly Jio entered the Indian wireless communications market, which has monopolistic features, but the incumbent Airtel didn't reduce the price. Perhaps Airtel thought Marginal cost will push Jio out the market. Unfortunately for them, it was rolled out by one of the richest people in the world and the "huge fixed cost" was financed without affecting the rollout and Jio could actually fight on the equal footing (Actually on a superior footing since they used more advanced technology !!).
Now Jio too is charging above market price, which indicates they have monopoly
A fine example of "If you have enough money, no market is ever a monopoly market"
You can observe the investors on Shark Tank as well, they don't invest in companies unless they have a scientifically proven approach to anything i.e A Patent, Clinical Trials, efficient Supply Chain, both Offline and Online presence etc. Otherwise a bigger business will just eat them up.
Agreed. MIT is smarter than Harvard.
Mitt has excellent def and mute technique to teach 3 million people, that turns possible for them to learn.
Thanks for the video
Great content as always !
For the last example, why not just build more airports? That would create competition there and break the hub and system.
He's not understood the hub and spoke system. The hub and spoke system means you have a small number of large airports which act as "hubs" and then the smaller airports act as "spokes". Most flights go from hub to hub (see Amsterdam in Europe) and then you get a connecting flight out to the smaller "spoke" airport (e.g. Minneapolis) after this. What has happened is that the spoke has been monopolised. The reason you don't just build a second airport is because it doesn't make sense to pay the market entrance cost for a smaller city. The problem he is describing is a failure of regulation
Great thanks alot now i understand it
I guess the spending in South Korea is not complete, people there spend a lot of money after school, to private education delivers.
About the 20 years of monopoly after patenting the good the professor talks about, does that apply to the US or is accepted worldwide??
This video has really been helpful ❤❤❤
geneuis student also creating monopoly in academic activity
43:00 uhhh, professor, what about first class
Some people, sure. But most of the market wanted, at the end of the day, a cheaper experience.
a) 50 million people have Alzheimer
b) 16 million people have brain decease
to teach 3 million people mitt have excellent mute and deaf techniques
what
Thanks 🇦🇿🇦🇿🇦🇿
31:50 shows that Professor Gruber believes that the public is dumb, and would take their kids out of school to go to some unaccredited school. You do not offer a school that offers less quality then the public school. I just really don't understand the cons to vouchers.
A lot of studies were done about this. The result is that more educated parents(usually of higher income) can better chose the best schools, and so they take more advantage of the vouchers than the less educated ones. So, at the end, the vouchers benefit richer families more than they benefit poor families.
You can let dumb people decide their own fate, but not the fate of children.
@@Mvobrito well said