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Title: The Theory of Industrial Organization by Jean Tirole ISBN: 0-262-20071-6 Publisher: MIT Press Pub. Date: 01 January, 1988 Format: Hardcover Volumes: 1 List Price(USD): $65.00 |
Average Customer Rating: 5 (5 reviews)
Rating: 5
Summary: An organized introduction to industrial organization
Comment: This book covers the main subjects in this field, with very clear and readable expositions and solid formalizations. Mathematics is not difficult (basic notions of calculus and optimization are required) and some exercises have been included at the end of the chapters "...to help the reader become familiar with the subjects and to broaden his or her knowledge..."
A bonus track: the book is also an excellent bibliographical guide to those who want to expand their reading.
Rating: 5
Summary: Very good book, but not for everyone
Comment: This book is absolutely the "classic" in IO. The author amazingly provided very clear and coherent exposition to this huge, but diverse field. But, this book is not for everyone as some reviews below implied. First, consultants or managers may not find this book useful for the real-life application, because this is a (rather serious) "theory" book. It has no detailed cases, no practical managerial implications, and so on. For that purpose, there are many other good books like Schere, or Carlton & Perloff, etc. The virtue of this book lies in the author's capability to make accessible otherwise very complicated and abstruse models, which would be mainly the concern of grad students in econ, not consultants. Therefore, econ students who are interested in theory development in IO would quickly grasp the essence of important IO models with a simple algebra. I don't understand what part of the book some people think is useful as a reference for the consultants or even everyone.
Second, simple algebra in the book does not mean it is accessible to "everyone." At the introductory grad level, game thoery and information economics use only basic algebra, but it is still not easy at all. Of course, this book introduces almost all important topics usually taught in the first-year micro sequence at graduate school, like repeated game (Ch 6), basic mechanism design technique (non-linear pricing in Ch 3), principal-agent problem (Ch 1), and so on. It would be misleading if one says these topics are accessible to everyone because of "minimal use of math." Even chapter 1, the theory of firm, is a very deep discussion, introducing the concept of "incomplete contract."
In my opinion, this book will be ideal for econ grad students, who would want to quickly review relevant chapters before moving into more recent IO literature (of course, now with full rigor).
Rating: 5
Summary: The best IO book around
Comment: I studied Economics, soon after found myself working as a consultant, and still I keep this book on the shelf as reference in case I need it. IO is the most important branch of Economics with direct applications on the business world. This book is entirely theoretict and contains only the most significant models, along with references to other papers related the subject. The only addition I would make to this book is to incorporate some practical information to see the power of the models explaining the real world.
Before starting to shout that a "New Economy has come!", people should focus more on the intrincate models already developed by economists ranging so different subjects as: differentiation, entry, information, innovation, etc. When I wrote my thesis on e-commerce, ...
A word of advice: You need very good grounding in Game Theory (beyond the initial stuff you learn at intermediate Microeconomic level), if not, try reading the appendix on Game Theory before inmersing on the subject.
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Title: Game Theory by Drew Fudenberg, Jean Tirole ISBN: 0262061414 Publisher: MIT Press Pub. Date: 29 August, 1991 List Price(USD): $75.00 |
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Title: The Theory of Incentives : The Principal-Agent Model by Jean-Jacques Laffont, David Martimort ISBN: 0691091846 Publisher: Princeton Univ Pr Pub. Date: 26 December, 2001 List Price(USD): $32.50 |
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Title: Modern Industrial Organization (3rd Edition) by Dennis W. Carlton, Jeffrey M. Perloff ISBN: 0321011457 Publisher: Pearson Addison Wesley Pub. Date: 24 September, 1999 List Price(USD): $119.00 |
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Title: Game Theory for Applied Economists by Robert Gibbons ISBN: 0691003955 Publisher: Princeton Univ Pr Pub. Date: 13 July, 1992 List Price(USD): $37.50 |
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Title: Econometric Analysis of Cross Section and Panel Data by Jeffrey M. Wooldridge ISBN: 0262232197 Publisher: MIT Press Pub. Date: 01 October, 2001 List Price(USD): $75.00 |
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