Who controls markets and profits from them? Does competition or monopoly result in a more beneficial economy? How can the economic playing field become fairer or more biased in either direction? The study of industrial organization extends to the core of these most important questions of economics. Throughout the field's history, various clashing schools of thought have attempted to sort through these complex issues, examining both abstract theory and real-life cases. The Fifth Edition of this widely used, highly regarded text includes coverage of dramatic changes in the field. Shepherd & Shepherd provide broad, balanced coverage of topics without showing preference to any single point of view, encouraging students to think independently. This emphasis on independent judgment is evident throughout the book, with discussion of structure placed before performance to assist the reader in thinking about causation. Topics are organized for maximum flexibility, with distinct chapters covering case studies, antitrust and regulation policy, and capital markets.
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Titles of related interest from Waveland Press: Ekelund-Hebert, A History of Economic Theory and Method, Fifth Edition (ISBN 9781577664864) and McCloskey, Economical Writing, Second Edition (ISBN 9781577660637).
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4 of 4 people found the following review helpful:
5.0 out of 5 stars
A must,
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This review is from: The Economics of Industrial Organization (Paperback)
This book is not going to take you through the obscure world of the hard math to help you understand how the Industrial Organization theory works. It provides real-world and anecdotic examples and data which help theory make more sense. It also provides extremely clear and graphical explanations on each topic which are accompanied by valuable "Questions for Review" sections after each chapter. It is like reading comics and with that I mean that Shepherd has a gift at making his points clear. It is a must for undergrad students, however, I would not recommend it if you are looking for a text that emphasizes mathematical analysis. In that case it could only be used as a reference book for the intuitive part of the concepts and for a historical summary of theories.
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