There are few industries in modern market economies that do not manufacture differentiated products. This book provides a systematic explanation and analysis of the widespread prevalence of this important category of products. The authors concentrate on models in which product selection is endogenous. In the first four chapters they consider models that try to predict the level of product differentiation that would emerge in situations of market equilibrium. These market equilibria with differentiated products are characterised and then compared with social welfare optima. Particular attention is paid to the distinction between horizontal and vertical differentiation as well as to the related issues of product quality and durability. This book brings together the most important theoretical contributions to these topics in a succinct and coherent manner. One of its major strengths is the way in which it carefully sets out the basic intuition behind the formal results. It will be useful to advanced undergraduate and graduate students taking courses in industrial economics and microeconomic theory.

Sunk Costs and Market Structure bridges the gap between the new generation of game theoretic models that has dominated the industrial organization literature over the past ten years and the traditional empirical agenda of the subject as embodied in the structure-conduct-performance paradigm developed by Joe S. Bain and his successors.

This authoritative new collection presents a selection of previously published seminal articles that have led to the development of intra-industry trade theory and empirical research. Parts I and II cover the pioneering research in the 1960s and a number of models of intra-industry trade that were developed from 1979 to the present day. Parts III and IV look at the empirical research problems in the choice of measure of intra-industry trade and empirical studies that seek to identify the nature of this trade. Part V deals with the role of the multinational corporation and part VI completes the collection with articles that look at extensions to asset markets and applications to other problems such as the geography of trade and rules of origin. Intra-Industry Trade will be an invaluable source of reference to all international trade economists and libraries specialising in this area.

Media Economics: Applying Economics to New and Traditional Media differs from ordinary media economic texts by taking a conceptual approach to economic issues. As the book progresses through economic principles, authors Colin Hoskins, Stuart McFadyen, and Adam Finn use cases and examples to demonstrate how these principles can be used to analyze media issues and problems. Media Economics emphasizes economic concepts that have distinct application within media industries, including corporate media strategies and mergers, public policy within media industries, how industry structure and changing technologies affect the conduct and performance of media industries, and why the United States dominates trade in information and entertainment.

Industrial Organization: Markets and Strategies 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. The book is accompanied by a website containing a number of additional resources for lecturers and students, including exercises, answers to review questions, case material and slides.

Determinants of firm and market organization; Analysis of market behavior; Empirical methods and results; International issues and comparision; government intervention in the Marketplace.