Economics of Organizations and Markets

How do employees respond to incentives? Which applicant is most attractive
when several apply to fill a job vacancy? Why and how do governments intervene
in markets?
Finding the right answers to these and other questions is of great importance
for managers and policy makers who want to fully understand the economics of
organizations and markets. Organizations and markets are vital institutions in all
modern societies.
This book examines how organizations and markets work and
how managers and governments can intervene to let them work better. Questions
like the above will be examined by applying tools from microeconomics ? including
game theory, information
economics, and contract theory.
Economics of Organizations and Markets is aimed at students of economics
as well as of business. The text discusses how those tools can be applied to build
quantitative models that can provide convincing theory about the way organizations
and markets are organized. The insights obtained from the models will be
valuable to the professional careers of students.
This book contains the following key features: step-by-step analysis of quantitative
models, numerous real-world illustrations of the theory, a discussion of
the main features of European competition law, and end-of-chapter exercises that
are closely related to the models analyzed in the main text. In addition, each chapter
contains an in-depth case study which shows that the issues discussed in the
chapter are not just of theoretical interest but that they are relevant for decision
making in practice.
Sander Onderstal is associate professor in Industrial Organization
and Experimental Economics at the Faculty of
Economics and Business of the University of Amsterdam.
He has published broadly in international journals on subjects
like auctions, public procurement, incentive contracts,
experimental economics, and charitable fundraising.