The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Industrial Organization

  • Richard Schmalensee
Reference work entry


Based on the activities of those who consider themselves in the field, industrial organization (or industrial economics) today may be broadly defined as the field of economics concerned with markets that cannot easily be analysed using the standard textbook competitive model. In such markets the positive and normative implications of models of imperfect competition are generally of interest, as are the design and effects of government antitrust and regulatory policies aimed at improving market performance. Because there are many models of imperfect competition, and because general policies must be applied to particular cases, much of the research in industrial organization has been and continues to be empirical.

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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Richard Schmalensee
    • 1
  1. 1.