The field studies how firms and markets are organized and how they behave across a spectrum ranging fromcompetitive markets[2] tomonopoly,[3] including cases shaped by government intervention and regulation.
Industrial organization combines theoretical models and empirical analysis to study issues such asmarket power,competition policy,oligopoly behavior,pricing strategies,vertical integration, and the design of contracts and institutions. It has applications in public policy, business strategy, and the regulation of industries.
There are different approaches to the subject. One approach is descriptive in providing an overview of industrial organization, such as measures of competition and the size-concentration of firms in an industry. A second approach usesmicroeconomic models to explain internal firm organization and market strategy, which includes internal research and development along with issues of internal reorganization and renewal.[4] A third aspect is oriented topublic policy related toeconomic regulation,[5]antitrust law,[6] and, more generally, the economic governance of law in defining property rights, enforcing contracts, and providing organizationalinfrastructure.[7][8]
TheJournal of Economic Literature (JEL) classification codes are one way of representing the range of economics subjects and subareas. There, Industrial Organization, one of 20 primary categories, has 9 secondary categories, each with multiple tertiary categories.[16] The secondary categories are listed below with corresponding available article-preview links ofThe New Palgrave Dictionary of Economics Online and footnotes to their respective JEL-tertiary categories and associated New-Palgrave links.
A 2009 bookPioneers of Industrial Organization traces the development of the field fromAdam Smith to recent times and includes dozens of short biographies of major figures in Europe and North America who contributed to the growth and development of the discipline.[26]
Other reviews by publication year and earliest available cited works those in 1970/1937,[14] 1972/1933,[27] 1974,[28] 1987/1937-1956 (3 cites), 1968–9 (7 cites),[29] 2009/c. 1900,[30] and 2010/1951.[31]
^• Frederic M. Scherer and David Ross, 1990.Industrial Market Structure and Economic Performance, 3rd ed.Description and 1st ed. reviewextract. • Dennis W. Carlton and Jeffery M. Perloff, 2004. "Modern Industrial Organization, Overview", ch. 5,Handbook of Industrial Organization, Elsevier, v. 1, pp. 259–327.Fudenberg, Drew; Tirole, Jean (1989). "Chapter 5 Noncooperative game theory for industrial organization: An introduction and overview".Handbook of Industrial Organization Volume 1. Vol. 1. pp. 259–327.doi:10.1016/S1573-448X(89)01008-3.ISBN9780444704344.S2CID154265880. •Carl Shapiro, 1989. "The Theory of Business Strategy",RAND Journal of Economics, 20(1), pp.125–137. • Kyle Bagwell and Asher Wolinsky (2002). "Game theory and Industrial Organization", ch. 49,Handbook of Game Theory with Economic Applications, v. 3, pp. 1851–1895Bagwell, Kyle; Wolinsky, Asher (2002). "Chapter 49 Game theory and industrial organization".Handbook of Game Theory with Economic Applications Volume 3. Vol. 3. pp. 1851–1895.doi:10.1016/S1574-0005(02)03012-6.ISBN9780444894281. •Martin Shubik, 1987.A Game-Theoretic Approach to Political Economy, Part II.MIT Press.Description.Archived May 3, 2011, at theWayback Machine
^Richard Schmalensee and Robert Willig, eds., 1989.Handbook of Industrial Organization, Elsevier, v. 2, Part 5, Government Intervention in the Marketplace, ch. 22–26, abstractlinks.
^•Avinash K. Dixit, 2008. "economic governance",The New Palgrave Dictionary of Economics, 2nd Edition.Abstract. •Oliver E. Williamson, 1996.The Mechanisms of Governance, "Prologue", pp.3–20.
^•George J. Stigler, 1983.The Organization of Industry, University of Chicago Press. Description and contentslinks andpreview. •Richard Schmalensee, 1988. "Industrial Economics: An Overview",Economic Journal, 98(392), pp.643–681. Working paperlink. •Handbook of Industrial Organization, Elsevier:
^Exemplified in such advanced textbooks asJean Tirole, 1988,The Theory of Industrial Organization, MIT Press,description and chapter-previewlinks.
^• Edward Hastings Chamberlin, 1933.The Theory ofMonopolistic Competition: A Re-orientation of the Theory of Value, 1965, 8th ed. Harvard University Press. • R. Rothschild, 1987. "The Theory of Monopolistic Competition: E.H. Chamberlin's Influence on Industrial Organisation Theory over Sixty Years",Journal of Economic Studies, 14(1), pp. 34–54.Abstract. • William L. Baldwin, 2007. "Edward Hastings Chamberlin", inPioneers of Industrial Organization, H. W. de Jong, W. G. Shepherd, ed., pp.199–.
^Edward S. Mason, 1939. "Price and Production Policies of Large-Scale Enterprise",American Economic Review, 29(1, Supplement), pp.61–74. • _____, 1949. "The Current Status of the Monopoly Problem in the United States",Harvard Law Review, 62(8), pp.1265–1285. • _____, 1957.Economic Concentration and the Monopoly Problem, Harvard University Press. Reviewextract. • William G. Shepherd, 2007. "Edward S. Mason", inPioneers of Industrial Organization, H. W. de Jong, W. G. Shepherd, ed.
^J.M. Clark, 1940.Toward a Concept of Workable Competition.American Economic Review, Vol. 30, No. 2, Part 1, Jun., pp. 241–256 • William L. Baldwin, 2007. "John Maurice Clark" inPioneers of Industrial Organization, H. W. de Jong, W. G. Shepherd, ed., pp.183–186.
^• Joe S. Bain, 1956.Barriers to New Competition: Their Character and Consequences in Manufacturing, Harvard University Press. Review extracts[1][2]. • _____, 1959, 2nd ed., 1968.Industrial Organization: A Treatise, John Wiley. •Richard E. Caves, 2007. "Joe S. Bain", inPioneers of Industrial Organization, H. W. de Jong, W. G. Shepherd, ed., pp.224–231.
^abE. T. Grether, 1970. "Industrial Organization: Past History and Future Problems",American Economic Review, 60(2), pp.83–89.
^JEL: L61 – Metals and Metal Products; Cement; Glass; Ceramics JEL: L62 – Automobiles; Other Transportation Equipment JEL: L63 – Microelectronics; Computers; Communications Equipment JEL: L64 – Other Machinery; Business Equipment; Armaments JEL: L65 – Chemicals; Rubber; Drugs; Biotechnology JEL: L66 – Food; Beverages; Cosmetics; Tobacco; Wine and Spirits JEL: L67 – Other Consumer Nondurables: Clothing, Textiles, Shoes, and Leather JEL: L68 – Appliances; Other Consumer Durables
^JEL: L71 – Mining, Extraction, and Refining: Hydrocarbon Fuels JEL: L72 – Mining, Extraction, and Refining: OtherNonrenewable Resources JEL: L73 – Forest Products JEL: L74 – Construction JEL: L78 – Government Policy
^JEL: L80 – General JEL: L81 – Retail and Wholesale Trade; e-Commerce JEL: L82 – Entertainment; Media (Performing Arts, Visual Arts, Broadcasting, Publishing, etc.) JEL: L83 – Sports; Gambling; Recreation; Tourism JEL: L84 – Personal, Professional, and Business Services JEL: L85 – Real Estate Services JEL: L86 – Information and Internet Services; Computer Software JEL: L87 – Postal and Delivery Services JEL: L88 – Government Policy
^JEL: L91 – Transportation: General JEL: L92 – Railroads and Other Surface Transportation JEL: L93 –Air transportation JEL: L94 –Electric utilities JEL: L95 – Gas Utilities; Pipelines; Water Utilities |JEL: L96 –Telecommunications JEL: L97 – Utilities: General JEL: L98 – Government Policy
^Henry W. de Jong and William G. Shepherd, ed., 2007.Pioneers of Industrial Organization. Cheltenham, UK: Elgar. Description and contentlinks andpreview.Archived August 7, 2011, at theWayback Machine
^James W. McKie, 1972. "Industrial Organization: Boxing the Compass", ch. 1 inV. R. Fuchs, ed.,Policy Issues and Research Opportunities in Industrial Organization, NBER, pp.1-15.
^Almarin Phillips and Rodney E. Stevenson, 1974. "The Historical Development of Industrial Organization",History of Political Economy, 6(3), pp. 324–342. In Papers from the First Conference of the History of Economics Society.Citation.
^Timothy F. Bresnahan and Richard Schmalensee, 1987. "The Empirical Renaissance in Industrial Economics: An Overview",Journal of Industrial Economics, 35(4), pp.371–378.
^Lefteris Tsoulfidis, 2009. "Between Competition and Monopoly",Competing Schools of Economic Thought, ch. 9, pp.213–42.Springer
^Liran Einav andJonathan Levin, 2010. "Empirical Industrial Organization: A Progress Report",Journal of Economic Perspectives, 24(2), pp.145–162.
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