Although it is theoretically possible (and has been asserted) that the Iliad followed the Odyssey, or that the two poems were composed quite independently, with no influence from one to the other, majority opinion ancient and modern puts the Odyssey later, and assumes it to be in important respects a successor, even a sequel, to the Iliad. This position can be maintained in various forms: those who believe in a single master-poet as the creator of both epics may assign the Iliad to Homer’s youth, the Odyssey to his riper years (a position memorably expressed by Longinus); those who follow the ancient separatists can regard the Odyssey as a rival work, composed by a poet who immensely admired the Iliad but whose own poetic and moral concerns lay elsewhere. On the whole the latter view is now more common, though there are eminent advocates on both sides. In fact it is probably impossible, in a tradition which involved so much use of conventional themes and formulaic material, to decide firmly in favour of common or separate authorship. Whichever view one prefers, the important point seems to be that the Odyssey is later, and that it is conceived as a poem on the same scale as the Iliad, but differing strikingly in content and ethos.
The standard commentary for scholars is now Heubeck et al. (originally published with a text, and in a more attractive format, in Italian (6 vols., 1981-6); now translated and publ. in 3 vols, by Oxford 1988-92). The first volume is the most valuable, with important introductory essays. See also Jones 1991, for books 1 and 2; more advanced, Garvie 1994 on books 6-8, Rutherford 1992 on books 19 and 20. Jones 1988 is an unpretentious and informative guide to the poem aimed at readers of Lattimore’s translations. For book-length studies see H. W. Clarke, The Art of the Odyssey (New Jersey, 1967; repr. with additions Bristol, 1989), Thornton 1970, Eisenberger 1973, Austin 1975, Griffin 1987, S. V. Tracy, The Story of the Odyssey (Princeton, 1990; rather elementary), U. Hölscher, Die Odyssee: Epos zwischen Märchen und Roman (Munich, 1989). G. E. Dimock, Jr., The Unity of the Odyssey (Amherst, 1989) is a book-by-book reading, sometimes rather disappointing: see my review in CR 41 (1991), 9-10. Page 1973 is an enjoyable essay on the adventures of books 9-12 (cf. 1955, ch. 1). Hölscher 1939 and esp. Fenik 1974 are indispensable on the thematic structure. A good deal of the material in part 1 of Edwards 1987 concerns both epics.