Economics of strategy focuses on the key economic concepts students must master in order to develop a sound business strategy and brings economic theory and strategic analysis to life in an engaging and uniquely modern way. Besanko, Dranove, Shanley, and Schaefer have collaborated for over 15 years to build an introductory business course that combines basic concepts from economic theory of the firm and industrial organization with ideas from modern strategy literature.
The Sixth Edition has been reorganized and now includes the following changes:
- Economies of Scale and Diversification are now combined in a single chapter.
- Commitment and dynamics of Competition have been consolidated into a single chapter titled “Dynamics: Competing over Time.”
- The chapters on Sustaining Advantage and The Origins of Competitive Advantage are now combined.
- A new chapter on Information and Value Creation has been added which describes how firms, markets, and certifiers disclose information about product attributes.