5th Edition
Industrial Organization Theory and Practice
Industrial Organization: Theory and Practice blends a rigorous theoretical introduction to industrial organization with empirical data, real-world applications and case studies. The book also supports students with a range of problems and exercises, and definitions of key terms and concepts. This balanced approach, which enables students to apply theoretical tools, has earned this book its ranking as one of the leading undergraduate texts in its field.
For the fifth edition, relevant data, tables, empirical examples and case studies have been updated to reflect current trends and topics, in the most complete reorganization since the second edition. Further changes include:
- all public policy topics have been placed in the last section, making it simpler to use for courses that emphasize theory or public policy;
- an entirely new chapter on international trade and industrial organization;
- a new chapter on mergers;
- a separate section on antitrust;
- a companion website with PowerPoint slides and other supplements.
This comprehensive book bridges the gap between economic theory and real-world case studies in an accessible, logical manner, making it the ideal undergraduate text for courses on industrial organization.
Part One: The Basics of Industrial Organization 1. Introduction 2. The Firm and Its Costs 3. Competition and Monopoly 4. Market Structure 5. Monopoly Practices 6. Empirical Industrial Organization Part Two: Modern Industrial Organization: Game Theory and Strategic Behavior 7. Game Theory: A Framework for Understanding Oligopolistic Behavior 8. The Development of Theory 9. Collusion: The Great Prisoner's Dilemma 10. Oligopoly Behavior: Entry and Pricing to Deter Entry 11. Oligopoly Behavior: Entry and Nonpricing Strategies to Deter Entry Part Three: Business Practices 12. Product Differentiation 13: Advertising 14. Technological Change and Research and Development 15. Price Discrimination 16. Vertical Integration and Vertical Relationships 18. Regulation and Deregulation
Biography
Don E. Waldman is Richard M. Kessler Professor of Economic Studies at Colgate University, USA.
Elizabeth J. Jensen is Professor of Economics at Hamilton College, USA.
This is an updated comprehensive industrial organization textbook that combines theory, empirical examples, and policy applications. It brings out connections between theory and the real world, and makes complicated models accessible. A perfect pedagogical companion for professors and undergraduate students.
– Gamal Atallah, Associate Professor, University of Ottawa, Canada
Students appreciate the way this textbook carefully explains the relevant economic theories, and then shows how these theories can help us understand corporate behavior and analyze court decisions in antitrust cases.
– William J. Field, Professor of Economics & Management, DePauw University
