Economics of Strategy / Edition 6

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Economics of Strategy offers a comprehensive text that provides a link between economic theory and business applications that is at once technical in its approach and accessible due to its numerous examples and clear writing style.

The sixth edition of Besanko's Economics of Strategy uses economic theory to bring new insights to popular topics in modern strategy. By presenting basic concepts of economic theory with ideas in modern strategy literature, this book provides readers with a logical framework for understanding the strategic activities within a firm.

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Editorial Reviews

Details both the external market environment of firms and their internal organization, for MBA students, advanced undergraduates, students in executive programs, and practicing managers. After a primer on economic concepts for strategy, four sections address the boundaries of the firm; competitive strategy from the perspective of industrial organization economies; strategic positioning and dynamics; and topics associated with internal organization. Boxes illustrate economic models with cases from real companies. Annotation c. Book News, Inc., Portland, OR
From the Publisher
“…the book seeks to supply an economic lens for viewing the broad sweep of the strategic activities of the firm.” (Times Higher Education Supplement, Thursday 28th February 2008)
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Product Details

  • ISBN-13: 9781118273630
  • Publisher: Wiley, John & Sons, Incorporated
  • Publication date: 9/4/2012
  • Edition description: New Edition
  • Edition number: 6
  • Pages: 534
  • Sales rank: 237,131
  • Product dimensions: 7.90 (w) x 10.10 (h) x 0.90 (d)

Meet the Author

David Besanko, PhD, is the Alvin J. Huss Distinguished Professor of Management and Strategy at the Kellogg School of Management at Northwestern University. He received his PhD in Managerial Economics and Decision Sciences and his AB in Political Science from Ohio University. He has received grants from the National Science Foundation and from the Citicorp Behavioral Science Research Council to support this research.

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Table of Contents

Introduction Strategy and Economics 1

Pt. 1 Economic Foundations of Strategy

1 Basic Microeconomic Principles 11

2 Economies of Scale and Scope 41

3 Agency and Coordination 73

4 The Power of Principles: A Historical Perspective 97

Pt. 2 Firm Boundaries

5 The Vertical Boundaries of the Firm 119

6 Organizing Vertical Boundaries: Vertical Integration and Its Alternatives 150

7 Diversification 175

Pt. 3 Market and Competitive Analysis

8 Competitors and Competition 205

9 Strategic Commitment 238

10 The Dynamics of Pricing Rivalry 264

11 Entry and Exit 299

12 Industry Analysis 327

Pt. 4 Strategic Position and Dynamics

13 Strategic Positioning for Competitive Advantage 359

14 Sustaining Competitive Advantage 410

15 The Origins of Competitive Advantage: Innovation, Evolution, and the Environment 441

Pt. 5 Internal Organization

16 Performance Measurement and Incentives in Firms 469

17 Strategy and Structure 507

18 Environment, Power, and Culture 536

Glossary 563

Index 573

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