This text has been revised to reflect theoretical, empirical, and policy developments of the past decade. New insights into strategic behaviour from game theory are given attention. The chapters on antitrust policy have been integrated with the related theoretical materials.
[Industrial Market Structure and Economic Performance] written by Frederic M. Scherer of the University of Michigan, is one of the best studies of the industrial organization field to be published in many years. It represents a systematic empirical and analytical exploration of what progress "has been made in our understanding of how real-world industrial markets function...."
[...] within [a] familiar framework, one finds an impressive coverage of material, a brilliant piecing together of diverse and complicated theoretical and empirical work, and exploration of important subjects that are usually not treated as integral parts of the industrial organization framework.