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Industrial Market Structure and Economic Performance

Posted: 4 Nov 2009  

F.M. Scherer

affiliation not provided to SSRN

David Ross

Robinson & Cole, LLP

Date Written: 1990

Abstract

Provides a systematic presentation of the economic field of industrial organization, which is concerned with how productive activities are brought into harmony with the demand for goods and services through an organizing mechanism, such as a free market, and how variations and imperfections in the organizing mechanism affect the successful satisfying of an economy's wants. Of the three market mechanisms (tradition, central planning, and free markets), the field of industrial organization deals primarily with the market system approach. This book primarily emphasizes the manufacturing and mineral extraction sectors of industrialized economies, with less discussion of wholesale and retail distribution, services, transportation, and public utilities. Beginning with a discussion of the welfare economics of competition and monopoly, the structure of industries in the U.S. and abroad and their determinants are described, including motives for mergers and their effects. Extended analysis of pricing, product policy, and technological innovation then follows. Antitrust, price fixing, related restraints, structural monopolies, regulation, and price discrimination are examined, as are the complex policies governing pricing relationships between vertically linked firms. The role of advertising in product differentiation and the roles of market structure and product variety are identified. Innovation, patents, and their relation to market structure are explored. Overall, this analysis seeks to identify attributes or variables that influence economic performance and to build theories about the links between these attributes and end performance. (TNM)

Keywords: Industrial organization, Market structures, Industry structures, Monopolies, Prices, Antitrust laws, Acquisitions & mergers, Oligopolies, Market competition, Manufacturing industries, Market economies, Free markets

Suggested Citation

Scherer, F.M. and Ross, David, Industrial Market Structure and Economic Performance (1990). University of Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship. Available at SSRN: https://ssrn.com/abstract=1496716

F.M. Scherer (Contact Author)

affiliation not provided to SSRN

No Address Available

David Ross

Robinson & Cole, LLP ( email )

280 Trumbull Street
Hartford, CT 06103-3597
United States

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