Advanced Microeconomics For Contract Institutional And Organizational Economics
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Author | : W. Bentley MacLeod |
Publisher | : MIT Press |
Total Pages | : 417 |
Release | : 2022-04-05 |
Genre | : Business & Economics |
ISBN | : 026236946X |
A graduate textbook on microeconomics, covering decision theory, game theory, and the foundations of contract theory, with a unique focus on the empirical. This graduate-level text on microeconomics, covering such topics as decision theory, game theory, bargaining theory, contract theory, trade under asymmetric information, and relational contract theory, is unique in its emphasis on the interplay between theory and evidence. It reviews the microeconomic theory of exchange “from the ground up,” aiming to produce a set of models and hypotheses amenable to empirical exploration, with particular focus on models that are useful for the study of contracts, institutions, and organizations. It explores research that extends price theory to the exchange of commodities when markets are incomplete, discussing recent developments in the field. Topics covered include the relationship between theory and evidence; decision theory as it is used in contract theory and institutional design; game theory; axiomatic and strategic bargaining theory; agency theory and the class of models that are considered to constitute contract theory, with discussions of moral hazard and trade with asymmetric information; and the theory of relational contracts. The final chapter offers a nontechnical review that provides a guide to which model is the most appropriate for a particular application. End-of-chapter exercises help students expand their understanding of the material, and an appendix provides brief introduction to optimization theory and the welfare theorem of general equilibrium theory. Students are assumed to be familiar with general equilibrium theory and basic constrained optimization theory.
Author | : William Bentley MacLeod |
Publisher | : |
Total Pages | : |
Release | : 2022 |
Genre | : Microeconomics |
ISBN | : 9780262369473 |
"A PhD-level microeconomics textbook covering recent updates in key areas"--
Author | : W. Bentley MacLeod |
Publisher | : MIT Press |
Total Pages | : 417 |
Release | : 2022-04-05 |
Genre | : Business & Economics |
ISBN | : 0262046873 |
A graduate textbook on microeconomics, covering decision theory, game theory, and the foundations of contract theory, with a unique focus on the empirical. This graduate-level text on microeconomics, covering such topics as decision theory, game theory, bargaining theory, contract theory, trade under asymmetric information, and relational contract theory, is unique in its emphasis on the interplay between theory and evidence. It reviews the microeconomic theory of exchange “from the ground up,” aiming to produce a set of models and hypotheses amenable to empirical exploration, with particular focus on models that are useful for the study of contracts, institutions, and organizations. It explores research that extends price theory to the exchange of commodities when markets are incomplete, discussing recent developments in the field. Topics covered include the relationship between theory and evidence; decision theory as it is used in contract theory and institutional design; game theory; axiomatic and strategic bargaining theory; agency theory and the class of models that are considered to constitute contract theory, with discussions of moral hazard and trade with asymmetric information; and the theory of relational contracts. The final chapter offers a nontechnical review that provides a guide to which model is the most appropriate for a particular application. End-of-chapter exercises help students expand their understanding of the material, and an appendix provides brief introduction to optimization theory and the welfare theorem of general equilibrium theory. Students are assumed to be familiar with general equilibrium theory and basic constrained optimization theory.
Author | : Samuel Bowles |
Publisher | : Princeton University Press |
Total Pages | : 598 |
Release | : 2006-02-05 |
Genre | : Business & Economics |
ISBN | : 0691126380 |
Drawing upon recent advances in evolutionary game theory, contract theory, behavioural experiments and modeling of dynamic processes, Bowles develops a theory about the interraction between economic institutions and individual behaviour.
Author | : Felix Munoz-Garcia |
Publisher | : MIT Press |
Total Pages | : 891 |
Release | : 2017-08-11 |
Genre | : Business & Economics |
ISBN | : 0262035448 |
An introduction to advanced topics in microeconomics that emphasizes the intuition behind assumptions and results, providing examples that show how to apply theory to practice. This textbook offers an introduction to advanced microeconomic theory that emphasizes the intuition behind mathematical assumptions, providing step-by-step examples that show how to apply theoretical models. It covers standard topics such as preference relations, demand theory and applications, producer theory, choice under uncertainty, partial and general equilibrium, monopoly, game theory and imperfect competition, externalities and public goods, and contract theory; but its intuitive and application-oriented approach provides students with a bridge to more technical topics. The book can be used by advanced undergraduates as well as Masters students in economics, finance, and public policy, and by PhD students in programs with an applied focus. The text connects each topic with recent findings in behavioral and experimental economics, and discusses these results in context, within the appropriate chapter. Step-by-step examples appear immediately after the main theoretical findings, and end-of chapter exercises help students understand how to approach similar exercises on their own. An appendix reviews basic mathematical concepts. A separate workbook, Practice Exercises for Advanced Microeconomic Theory, offers solutions to selected problems with detailed explanations. The textbook and workbook together help students improve both their theoretical and practical preparation in advanced microeconomics.
Author | : Bibhas Saha |
Publisher | : Taylor & Francis |
Total Pages | : 566 |
Release | : 2024-07-08 |
Genre | : Business & Economics |
ISBN | : 1040043461 |
Advanced Microeconomics presents microeconomic problems in an intuitive way. Using lucid narratives to build on students’ initial understanding of economics and economic reality, equations and diagrams are incorporated to provide accessibility to students with a basic level of calculus to reach precise quantitative answers. It covers the standard areas of microeconomics such as consumer theory, producer theory, economics of uncertainty, general equilibrium and markets. The book also includes new developments such as behavioural economics, prospect and regret theory, public-sector firms, bargaining, signalling games, adverse selection and moral hazard. Real-life applications are given throughout the chapters, clearly showing students how the advanced theory connects to the real world. Each chapter provides a set of exercises for independent problem-solving. Learning is also supported by lists of key terms, chapter summaries and further reading suggestions. Advanced technical materials are presented in optional appendices. Digital supplements include quiz questions, solutions to exercises and instructor materials. The flexible chapter sequencing in the book enables instructors to create their preferred syllabus. Developing students’ intuitive appreciation for the theory as well as mathematical analysis, this is the ideal textbook for microeconomics courses at master’s level (MSc and MRes) and advanced undergraduate level.
Author | : Harald Wiese |
Publisher | : Springer Gabler |
Total Pages | : 620 |
Release | : 2021-08-12 |
Genre | : Business & Economics |
ISBN | : 9783658349585 |
This textbook for master programs in economics offers a comprehensive overview of microeconomics. It employs a carefully graded approach where basic game theory concepts are already explained within the simpler decision framework. The unavoidable mathematical content is supplied when needed, not in an appendix. The book covers a lot of ground, from decision theory to game theory, from bargaining to auction theory, from household theory to oligopoly theory, and from the theory of general equilibrium to regulation theory. Additionally, cooperative game theory is introduced. This textbook has been recommended and developed for university courses in Germany, Austria and Switzerland.
Author | : Geoffrey Alexander Jehle |
Publisher | : Addison Wesley |
Total Pages | : 568 |
Release | : 2001 |
Genre | : Business & Economics |
ISBN | : |
Devoted to modern consumer and producer theories. Examines the behavior of economic agents when they come together on market. Provides strategic behavior.
Author | : Harvey S. James |
Publisher | : |
Total Pages | : 222 |
Release | : 2005 |
Genre | : Business & Economics |
ISBN | : |
Research on contracting and organisational economics is progressing at a rapid pace. Nevertheless, what new ideas are needed in order to advance the frontiers of contracting and organisations research in ways that prove beneficial to society? This new book brings together scholars from around the world who have new ideas on the economics of contracts and organisations, otherwise known as transaction cost economics. The book is divided into three main sections. The first section presents ideas for improving the theoretical and empirical research in transaction cost economics. The second section shows how transaction cost economics informs on two important business issues -- corporate contracting and information technology (IT) operations. The third section presents alternative frameworks for examining contracting, organisational, and regulatory problems.
Author | : Claude Ménard |
Publisher | : Edward Elgar Publishing |
Total Pages | : 488 |
Release | : 2000 |
Genre | : Business & Economics |
ISBN | : |
A presentation of contributions from some of the world's leading economists, including Ronald Coase and Douglass North. It demonstrates the extent and depth of the New Institutional Economics research programme with special emphasis on the interaction between institutional factors.