The Power and the Limits of Industrial Organization

The Power and the Limits of Industrial Organization In the last few decades, mainstream industrial organization has developed very powerful tools for analyzing firm behavior within a fairly narrow framework. In this essay, I argue that while these tools are important, their development has crowded out other important aspects of firm behavior from the mainstream of IO. I conclude that in order to continue to grow the power of IO to predict firm behavior, the field will need to embrace aspects of firms that have moved away from IO in recent years, including innovation, boundaries of the firm, regulation, managerial incentives and decision biases, and others. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Review of Industrial Organization Springer Journals

The Power and the Limits of Industrial Organization

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Publisher
Springer US
Copyright
Copyright © 2016 by Springer Science+Business Media New York
Subject
Economics; Industrial Organization; Microeconomics
ISSN
0889-938X
eISSN
1573-7160
D.O.I.
10.1007/s11151-016-9508-1
Publisher site
See Article on Publisher Site

Abstract

In the last few decades, mainstream industrial organization has developed very powerful tools for analyzing firm behavior within a fairly narrow framework. In this essay, I argue that while these tools are important, their development has crowded out other important aspects of firm behavior from the mainstream of IO. I conclude that in order to continue to grow the power of IO to predict firm behavior, the field will need to embrace aspects of firms that have moved away from IO in recent years, including innovation, boundaries of the firm, regulation, managerial incentives and decision biases, and others.

Journal

Review of Industrial OrganizationSpringer Journals

Published: Mar 7, 2016

References

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