Methodologies ( The methodology of a discipline refers to the basic approach(es)commonly used in a discipline in the creation of knowledge. It is a guide for practitioners about how to go about answering a question or solving a problem The traditional approach in IO is the S-C-P(structure-conduct performance) paradigm. The orientation of SCP approach is primarily empirical: researchers in this tradition try to uncover empirical regularities across industries The"new lo has been more concerned with develo ping and testing explanations of firm conduct Key distinguishing features of the new lO (emphasis on specific industry (2)focus on developing models of firm behavior (empirical work is based on well-founded models of firm behaviorMethodologies (1) • The methodology of a discipline refers to the basic approach(es) commonly used in a discipline in the creation of knowledge. It is a guide for practitioners about how to go about answering a question or solving a problem. • The traditional approach in IO is the S-C-P (structure-conduct￾performance) paradigm. The orientation of SCP approach is primarily empirical: researchers in this tradition try to uncover empirical regularities across industries. • The “new IO” has been more concerned with developing and testing explanations of firm conduct. • Key distinguishing features of the new IO: • (1)emphasis on specific industry • (2)focus on developing models of firm behavior • (3)empirical work is based on well-founded models of firm behavior