This book is the best graduate textbook in Industrial Organization: wonderfully written, complete in terms of topics and depth of the discussions, balanced in its judgments. The book provides an up-to-date account of modern industrial organization that blends theory with real-world applications. Written in a clear and accessible style, it acquaints the reader with the most important models for understanding strategies chosen by firms with market power and shows how such firms adapt to different market environments. It covers a wide range of topics including recent developments on product bundling, branding strategies, restrictions in vertical supply relationships, intellectual property protection, and two-sided markets, to name just a few. Models are presented in detail and the main results are summarized as lessons. Formal theory is complemented throughout by real-world cases that show students how it applies to actual organizational settings.
Praises:
"This is a crisply written account of modern Industrial Organization which should be a major reference for years to come. I particularly enjoyed the "Lessons" which summarize and keep the reader on-track with the economic insights from the models presented. Congratulations to the authors for this magnum opus." - Simon P. Anderson, University of Virginia
"Industrial economists have been blessed with some significant texts over the centuries. However, until Belleflamme and Peitz, no one had attempted to cover it all. Markets and Strategies does that. It is all here. From monopoly to competition, from simple pricing to pricing with menus, from bundling to innovation. There is no topic left untouched. It is a must have for teachers and students alike." - Joshua Gans, University of Melbourne
"Paul Belleflamme and Martin Peitz's Industrial Organization: Markets and Strategies offers a fully up-to-date treatment of modern industrial organization, including recent work on intellectual property, new forms of price discrimination, competition policy and two-sided markets. Theoretically inclined, clearly written, and mathematically accessible to a wide audience (including advanced undergraduates), it usefully provides motivation through short business-strategy or competition-policy cases. A tour de force and a must-read for students, researchers and practitioners of the field." - Jean Tirole, Toulouse School of Economics
"Paul Belleflamme and Martin Peitz provide a very careful and thorough up to date treatment of the main topics in Industrial Organization analysis. They do so in a pedagogical and clear way, including the step-by-step development of the models and contrast with real-world cases, that will prove very effective with students. The book also includes the analysis of issues relevant for the information economy such as bundling, intellectual property and two-sided markets." - Xavier Vives, Professor of Economics, IESE Business School
