On the Current State of Knowledge in Industrial Organization

摘要: My task in this paper is to provide a broad overview on recent developments our understanding of industrial organization economics. This seems particularly propitious time for perspective-taking, since, it me, at stage intellectual crisis not unlike what occurred astronomy during the period we now call Copernican Revolution. In attempting survey dimensions crisis, I shall focus four main themes: relationship between theoretical and empirical work; breakdown ‘classical’ (i.e., Mason—Bain) structure-conduct-performance paradigm; tension static dynamic models; sharply disparate schools thought emerging economics mergers takeovers.