engleski

Book review: Paul Belleflamme and Martin Peitz: Industrial organization: Markets and Strategies, Cambridge University Press, 2010. (prikaz knjige)

The book “Industrial Organization: Markets and Strategies“ aims at presenting the role of imperfectly competitive markets for private and social decisions, with the emphasis on strategic competition and market power. This title provides a comprehensive guide to industrial organization in the imperfect market conditions of the real world situations and the text itself ensures a learning framework for understanding the two basic concepts of the book, namely markets and strategies. Covering topics such as basic models in oligopolistic competition and modern theory of monopoly, sources of market power, pricing strategies, tacit agreements and competition policy, predatory behaviour, asymmetric information etc., it analyses most of the current intermediate microtheory. However it also covers topics in latest developments on product bundling and branding strategies, new forms of price discrimination, restriction in vertical supply relationships, innovation issues, intellectual property protection and market intermediation. Theory is useless unless it leads to real-world applications. In such a manner, the book offers insightful display of many real-life cases and examples, as well as simple models and diagrams for illustrative purposes which are featured by not so complex algebraic expressions. While formal in its approach, the book is written in such way that it requires certain basic mathematical knowledge and proficiency in elementary and applied microeconomics. This textbook systematically presents and makes accessible the advances and new learning of past twenty years in the field of industrial organization.

Industrial organization; markets; strategies; imperfect competition

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