Synopsis
This industrial organization text develops analysis in a logical manner. Its central topic is the exercise of market power - the control of price and the exclusion of competitors. This edition contains detailed case studies and examples, including many international cases. Public policy is treated in parallel with corresponding theory and empirical evidence throughout. The text reflects the increasing application of game theory to industrial economics, with greater emphasis on strategic behaviour as an equilibrium phenomenon. Several chapters introduce an elementary treatment of the game-theoretic approach to modelling oligopolistic interactions. The book takes an international perspective, with extensive discussions of the European Community and Japan, which should broaden students' views of the world economy.
