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Industrial organization
Field that examines the structure of firms and markets
Industrial organization
Industrial organization or industrial economics is a field of economics that analyzes the structure and behavior of firms and imperfectly competitive market structures. It introduces real-world features that depart from the model of perfect competition, such as transaction costs, imperfect information, and barriers to entry faced by potential competitors. The field studies how firms and markets are organized and how they behave across a spectrum ranging from competitive markets to monopoly, including cases shaped by government intervention and regulation. Industrial organization combines theoretical models and empirical analysis to study issues such as market 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...
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