Price theory and applications:
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Forth Worth u.a.
Dryden Press
1992
|
| Ausgabe: | 2. ed. |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | XXXV, 761 S. graph. Darst. |
| ISBN: | 0030722527 |
Internformat
MARC
| LEADER | 00000nam a2200000 c 4500 | ||
|---|---|---|---|
| 001 | BV005721621 | ||
| 003 | DE-604 | ||
| 005 | 00000000000000.0 | ||
| 007 | t | ||
| 008 | 921102s1992 d||| |||| 00||| eng d | ||
| 020 | |a 0030722527 |9 0-03-072252-7 | ||
| 035 | |a (OCoLC)23356100 | ||
| 035 | |a (DE-599)BVBBV005721621 | ||
| 040 | |a DE-604 |b ger |e rakddb | ||
| 041 | 0 | |a eng | |
| 049 | |a DE-384 |a DE-188 | ||
| 050 | 0 | |a HB172 | |
| 082 | 0 | |a 338.5 |2 20 | |
| 084 | |a QC 100 |0 (DE-625)141244: |2 rvk | ||
| 100 | 1 | |a Landsburg, Steven E. |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Price theory and applications |c Steven E. Landsberg |
| 250 | |a 2. ed. | ||
| 264 | 1 | |a Forth Worth u.a. |b Dryden Press |c 1992 | |
| 300 | |a XXXV, 761 S. |b graph. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 650 | 4 | |a Microeconomics | |
| 650 | 4 | |a Prices | |
| 650 | 0 | 7 | |a Preistheorie |0 (DE-588)4115623-7 |2 gnd |9 rswk-swf |
| 655 | 7 | |0 (DE-588)4143413-4 |a Aufsatzsammlung |2 gnd-content | |
| 689 | 0 | 0 | |a Preistheorie |0 (DE-588)4115623-7 |D s |
| 689 | 0 | |5 DE-604 | |
| 856 | 4 | 2 | |m HBZ Datenaustausch |q application/pdf |u http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=003574091&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |3 Inhaltsverzeichnis |
| 999 | |a oai:aleph.bib-bvb.de:BVB01-003574091 | ||
Datensatz im Suchindex
| _version_ | 1804119906367569920 |
|---|---|
| adam_text | Contents
Introduction 1
Using This Book 3
Exercises 4 Dangerous Curves 4 Marginal Glossary 4
Chapter Summaries 4 Review Questions 4 Numerical
Exercises 4 Problem Sets 4
CHAPTER 1
Supply, Demand, and Equilibrium 7
1.1/Demand 7
Demand versus Quantity Demanded 8
Demand Curves 8
Changes in Demand 10
Example: A Sales Tax 11
Market Demand 12
The Shape of the Demand Curve 13
Example: The Demand for Murder 15 Example: The
Demand for Reckless Driving 16 The Expanding Realm
of Economics 16
1.2/Supply 17
Supply versus Quantity Supplied 17
Example: The Supply of Check Cashing 19 Example: An
Excise Tax 19
1.3 / Equilibrium 21
The Point of Equilibrium 21
Changes in the Equilibrium Point 23
The Nature of Equilibrium:
Some Common Mistakes 24
Effect of a Sales Tax 26 Effect of an Excise Tax 27
Comparing Two Taxes 28
Summary 30
Review Questions 32
Numerical Exercises 32
Problem Set 32
CHAPTER 2
Prices, Costs, and the Gains from Trade 37
2.1 / Prices 37
Absolute versus Relative Prices 38
Relative Prices When There Are More than Two Goods 39
Changing Prices 39 Relative Price Changes and
Inflation 40
xxi
xxii Contents
Some Applications 40
The Quality of Oranges 40 Interest Rates and Present
Values 41
2.2 / Costs, Efficiency, and the Gains from Trade 42
Costs and Efficiency 42
Example: The Electrician and the Carpenter 44
Specialization and the Gains from Trade 45
Example: The Middleman 47
Why People Trade 48
It Pays to Be Different 48 Trade without Differences 49
What s Next? 49
Summary 50
Review Questions 50
Numerical Exercise 51
Problem Set 51
CHAPTER 3
The Behavior of Consumers 53
3.1 / Tastes 53
Indifference Curves 54
Relationships among Indifference Curves 57
The Marginal Rate of Substitution 58
The Marginal Rate of Substitution as a Slope 60
The Shape of Indifference Curves 61
More on Indifference Curves 62
Properties of Indifference Curves: A Summary 62
The Composite Good Convention 62
3.2 / The Budget Line and the Consumer s Choice 63
The Budget Line 64
The Consumer s Choice 65
The Geometry of the Consumer s Choice 65 The
Economics of the Consumer s Choice 67 Corner
Solutions 68 More on the Shape of Indifference
Curves 69
3.3 / Applications of Indifference Curves 71
A. Price Indices 71
A Problem 71 The Solution 71 Measuring the Cost of
Living 73
B. Differences in Tastes 75
^4 Problem 75 The Solution 76 Do Tastes Change over
Time? 76
C. Head Taxes versus Income Taxes 78
A Problem 78 The Solution 79 Discussion 80
Summary 81
Review Questions 82
Numerical Exercise 82
Problem Set 82
Contents xxiii
Appendix to Chapter 3 Cardinal Utility 87
The Utility Fuction 87
Marginal Utility 88
Marginal Utility and the
Marginal Rate of Substitution 88
The Marginal Utility of Income 89
The Consumer s Optimum 89
CHAPTER 4
Consumers in the Marketplace 91
4.1 / Changes in Income 91
Changes in Income and Changes in the Budget Line 91
The Engel Curve 93
Inferior Goods 94
4.2 / Changes in Price 95
Changes in Price and Changes in the Budget Line 95
The Demand Curve 97
4.3 / Income and Substitution Effects 98
Two Effects of a Rise in Price 99
An Imaginary Experiment 100
The Compensated Demand Curve 103
Why Demand Curves Slope Downward 104
The Compensated Demand Curve 104 The Income
Effect 104 The Demand Curve for a Normal Good 104
The Demand Curve for an Inferior Good 105
Income and Substitution Effects: A Summary 105
4.4 / Elasticities 106
Income Elasticity of Demand 107
Some Examples 108
Price Elasticity of Demand 109
Market Elasticities 110 Cross Elasticities 110 Elasticities
and Monopoly Power 111
Summary 111
Review Questions 113
Numerical Exercises 113
Problem Set 113
CHAPTER 5
The Behavior of Firms 117
5.1 / Weighing Costs and Benefits 118
A Farmer s Problem 118
The Equimarginal Principle 124
Applying the Principle 124
5.2 / Firms in the Marketplace 125
Costs 125
Fixed Costs 127
xxiv Contents
Revenue 128
Maximizing Profits 130
Changes in Cost Schedules 132
Sunk Costs Are Sunk 132
Changes in Marginal Cost 134
Changes in the Revenue Schedule 136
Summary 136
Review Questions 137
Numerical Exercises 137
Problem Set 137
CHAPTER 6
Production and Costs 141
6.1 / Production and Costs in the Short Run 142
Factors of Production 143
Fixed and Variable Factors 143
The Total and Marginal Products of Labor 144
The Shapes of the Product Curves 144 The Average
Product of Labor 147
Costs in the Short Run 147
The Variable Cost Curve 148 The Total Cost Curve 149
Average and Marginal Cost Curves 149 Averages and
Marginals: More Examples 153
6.2 / Production and Costs in the Long Run 154
Isoquants 154
The Marginal Rate of Technical Substitution 156
Marginal Products and the MRTS 158 The Production
Function 158
Choosing a Production Process 160
Isocosts and Cost Minimization 160 Cost Minimization
and the Equimarginal Principle 161 Output
Maximization 162 The Expansion Path 162
The Long Run Cost Curves 165
Long Run Average and Marginal Costs 165
Returns to Scale and the
Shape of the Long Run Cost Curves 166
Increasing Returns to Scale 166 Constant and Decreasing
Returns to Scale 168 Returns to Scale and the Average
Cost Curve 168
6.3 / Relations Between the
Short Run and the Long Run 169
From Isoquants to Short Run Total Cost 169
From Isoquants to Long Run Total Cost 172
Short Run Total Cost versus
Long Run Total Cost 172
A Multitude of Short Runs 172
Short Run Average Cost versus
Long Run Average Cost 173
Contents xxv
Summary 175
Review Questions 176
Numerical Exercise 177
Problem Set 177
CHAPTER 7
Competition 181
7.1 / The Competitive Firm in the Short Run 181
Revenue 183
Short Run Costs and Supply 183
The Supply Decision When Marginal Cost Is
Increasing 184 The Irrelevance of Fixed Costs 186
The Supply Decision with a U shaped Marginal
Cost Curve 188 The Shutdown Decision 190
The Short Run Supply Curve 191 Wliy Supply Curves
Slope Up 193
The Elasticity of Supply 193
7.2 / The Competitive Industry in the Short Run 193
The Short Run Supply Curve of the
Competitive Industry 194
The Factor Price Effect 195
Supply, Demand, and Equilibrium 196
The Industry s Costs 196
Competitive Equilibrium 198
Changes in Fixed Costs 198 A Change in Marginal
Costs 199 Changes in Demand 200
7.3 / The Competitive Firm in the Long Run 201
Long Run Costs and Supply 201
Comparing Short Run and Long Run
Supply Response 202
7.4 / The Competitive Industry
in the Long Run: Profits 203
The Zero Profit Condition 204
Average Cost in the Long Run 207
7.5 / The Competitive Industry
in the Long Run: Supply 208
Constant Cost Industries 208
Long Run Supply in a Constant Cost Industry 209
Are Long Run Industry Supply Curves Really Flat? 210
Increasing Cost Industries 211
The Factor Price Effect 211 An Intermediate Case: A
Few Efficient Firms 213
Decreasing Cost Industries 213
Industry Costs and Returns to Scale 214
7.6 / The Competitive Industry
in the Long Run: Equilibrium 215
Changes in Equilibrium 216
Changes in Fixed Costs 216 Changes in Marginal
Costs 216 Changes in Demand 216
xxvi Contents
Applications 219
Removing a Rent Control 219 A Tax on Motel
Rooms 221 Tipping the Busboy 222
7.7 / Using the Competitive Model 224
Summary 226
Review Questions 227
Numerical Exercises 228
Problem Set 228
CHAPTER 8
Welfare Economics and the Gains from Trade 233
8.1 / Measuring the Gains from Trade 234
Consumers and Producers Surplus 234
Marginal Value and Demand 234 Total Value as an
Area 236 The Consumer s Surplus 238 The Producer s
Surplus 239 Social Gain 241 Social Gains and
Markets 242
Changes in Consumers and Producers Surplus 245
The Effect of a Sales Tax 245 Understanding Deadweight
Loss 246 Normative Criteria 250
Examples and Applications 252
Subsidies 252 Price Ceilings 254 Tariffs 258 Tariffs
and Domestic Industries 261 Robbery 261
Cost Benefit Analysis 264
Example: The Economics of Legalizing Drugs 264
Example: The Invasion of Kuwait 267
Theories of Value 267
The Diamond Water Paradox 267 The Labor Theory of
Value 269
8.2 / General Equilibrium and the Invisible Hand 270
The Fundamental Theorem of Welfare Economics 270
The Idea of a General Equilibrium 272
An Edgeworth Box Economy 273
Competitive Equilibrium in the Edgeworth Box 274
The Invisible Hand in the Edgeworth Box 276
General Equilibrium with Production 277
Robinson Crusoe 277 The Open Economy 278
The World Economy 281
Summary 282
Review Questions 283
Problem Set 283
Appendix to Chapter 8 Normative Criteria 288
Some Normative Criteria 289
Majority Rule 289 The Kaldor Hicks Potential Compensation
Criterion 289 The Veil of Ignorance 290 The Maximin
Criterion 291 The Ideal Participant Criterion 292
Utilitarianism 292 Fairness 293
Optimal Population 293
Contents xxvii
CHAPTER 9
Knowledge and Information 297
9.1 / The Informational Content of Prices 298
Prices and Information 298
The Problem of the Social Planner 301 The Use of
Knowledge in Society 302
The Costs of Misallocation 304
Example: A Military Draft 306 The Social Role of
Rent 310
9.2 / Financial Markets 313
Efficient Markets for Financial Securities 314
Technical Analysis 314 Analysis of Market
Conditions 314 Asset Markets and the Royal
Head Flipper 315
Black Monday: The Crash of 1987 315
9.3 / Topics in the Economics of Information 318
Signaling 318
Signaling and Welfare:
Should Colleges Be Outlawed 319
Example: Dressing for Success 320 Example: Signaling
in the Animal Kingdom 320
Adverse Selection and the Market for Lemons 321
Adverse Selection and Insurance Markets 322
Moral Hazard 323
Principal Agent Problems 324
Efficiency Wages 325 Executive Compensation 326
The Theory of Auctions 328
Independent Private Values 329
A Theory of Unemployment 330
The Economics of Scientific Method 332
Summary 333
Review Questions 334
Problem Set 334
CHAPTER 10
Monopoly 339
10.1 / Price and Output under Monopoly 340
Monopoly Pricing 340
The Monopolist s Marginal Revenue Curve 340 Example:
Passing On a Cost Increase 341 Elasticity and Marginal
Revenue 343 Example: Price Increases and Monopoly
Power 344 The Monopolist Has No Supply Curve 344
Welfare 344
Monopoly and Public Policy 346
Subsidies 346 Price Ceilings 348 Rate of Return
Regulation 349
xxviii Contents
10.2 / Sources of Monopoly Power 351
Natural Monopoly 351
Example: A Hamburger Machine 352 The Welfare
Economics of Natural Monopoly 353
Patents 354
Resource Monopolies 354
Legal Barriers to Entry 355
10.3 / Price Discrimination 355
Example: Monopoly in the Pie Market 356
First Degree Price Discrimination 357
Example: The Market for Computer Cards 359 Example:
Price Discrimination in Medicine 359
Third Degree Price Discrimination 361
Example: Two Markets for Pies 361 A Monopolist in
Two Markets 362 Elasticities and Price
Discrimination 362 Price Discrimination and
Welfare 364 Conditions for Price Discrimination 364
Examples 365 Counterexamples 368
The Two Part Tariff 369
The Two Part Tariff and Price Discrimination 371
Example: Popcorn at the Movie Theater 371
Summary 372
Review Questions 373
Numerical Exercises 374
Problem Set 374
CHAPTER 11
Market Power, Collusion, and Oligopoly 379
11.1 / Acquiring Market Power 380
Mergers 380
Horizontal Integration 380
Antitrust Policies 382
Vertical Integration 384
Vertical Integration and Monopoly Power 385 Selling to
Your Own Subsidiaries 386
Predatory Pricing 386
Example: The Standard Oil Company 387 The Robinson
Patman Act 388
Resale Price Maintenance 389
11.2 / Collusion, Game Theory,
and the Prisoner s Dilemma 392
Game Theory and the Prisoner s Dilemma 393
The Prisoner s Dilemma and the Invisible Hand 394
Solving the Prisoner s Dilemma 394 The Repeated
Prisoner s Dilemma 395 Tit for Tat 395
The Prisoner s Dilemma and the
Breakdown of Cartels 397
Example: The International Salt Case 398 Example: Did
OPEC Ever Have Market Power? 398 The Government
as Enforcer 399
Contents xxix
11.3 / Regulation 399
Examples of Regulation 400
The Interstate Commerce Commission 400 Standards of
Quality and the FDA 400 Professional Licensing 402
Restrictions on Advertising 402 Minimum Wages 403
Blue Laws 404 Example: The Economics of
Polygamy 404
What Can Regulators Regulate? 405
Creative Response and
Unexpected Consequences 406
Example: Affirmative Action Laws 406 Example:
Reasonable Quantities of Sale Items 407
Positive Theories of Regulation 408
11.4 / Oligopoly 409
Contestable Markets 409
Contestable Markets and Natural Monopoly 410
Oligopoly with a Fixed Number of Firms 411
The Cournot Model 412 The Bertrand Model 414
Criticism of the Cournot and Bertrand Models 414
11.5 / Monopolistic Competition and
Product Differentiation 414
Monopolistic Competition 415
Welfare Aspects of Monopolistic Competition 416
The Economics of Location 417
Summary 417
Review Questions 418
Numerical Exercises 419
Problem Set 419
CHAPTER 12
External Costs and Benefits 423
12.1 / Costs Imposed on Others 423
The Doctor and the Confectioner 424
The Pigou Tax 425
The Incompleteness of Pigou s Analysis 428
12.2 / The Coase Theorem 428
The Doctor and the Confectioner Revisited 428
Side Payments 429
Alternative Solutions 430
Example 1 432 Example 2 433 Comparing the
Examples 433
The Coase Theorem: A Summary 434
The Coase Theorem with Many Firms 434
The Pigou Tax Reconsidered 436 Example: The Nature
Conservancy 436
External Benefits 437
Example: The Fable of the Bees 437
Income Effects and the Coase Theorem 438
Example: The Reserve Clause in Baseball 439
xxx Contents
12.3 / Transactions Costs 441
Example: Trains, Sparks, and Crops 441
The Reciprocal Nature of the Problem 443
Sources of Transactions Costs 445
Example: Mining Safety and the Principal Agent
Problem 445 Example: AIDS and Blood
Transfusions 446 Incomplete Property Rights 447
Liability Rules as Incomplete Property Rights 447
Free Riding 448
12.4 / The Law and Economics 449
The Law of Torts 449
Standards of Liability 449 Criminal Penalties and
Punitive Damages 451
A Positive Theory of the Common Law 452
Example: General Average 453 Example: Respondeat
Superior 454
Normative Theories of the Common Law 454
Optimal Systems of Law 455
Summary 456
Review Questions 457
Problem Set 457
CHAPTER 13
Common Property and Public Goods 463
13.1 / The Tragedy of the Commons 463
The Nwot Aquarium 463
Admission Fees 464 A Graphical Analysis 465 Property
Rights 466
It Can Pay to Be Different 468
A Graphical Analysis 468
Common Property 470
Optimal Activity Levels 470 Example: Splitting the
Check 471 Example: Bumblebees and Property
Rights 472
13.2 / Public Goods 472
Some Market Failures 473
Nonexdudability 473 Nonrivalry 473
The Provision of Public Goods 474
Example: Clean Air 474
The Role of Government 475
Schemes for Eliciting Information 477
Reaching the Efficient Outcome 477 Solutions to
Puzzles 478
Summary 479
Review Questions 479
Numerical Exercises 479
Problem Set 480
Contents xxxi
CHAPTER 14
The Demand for Factors of Production 483
14.1 / The Firm s Demand for
Factors in the Short Run 483
The Marginal Revenue Product of Labor 484
The Algebra of Profit Maximization 484
The Effect of Plant Size 486
14.2 / The Firm s Demand for
Factors in the Long Run 490
Constructing the Long Run
Labor Demand Curve 490
Constructing a Point on the Curve 490 The Demand for
Inputs versus the Demand for Output 491 A Change in
the Wage Rate 491
Substitution and Scale Effects 491
An Imaginary Experiment 492 Direction of the Substitution
Effect 492 Direction of the Scale Effect 492 Combining
the Substitution and Scale Effects 494
Relationships between the Short Run
and the Long Run 495
14.3 / The Industry s Demand Curve
for Factors of Production 497
Monopsony 497
How Widespread Is Monopsony? 498
14.4 / The Distribution of Income 499
Factor Shares and Rents 499
Profit 501 Returns to Scale 501
Producers Surplus 502
Who Benefits? 503
Summary 504
Review Questions 505
Numerical Exercises 506
Problem Set 506
CHAPTER 15
The Market for Labor 509
15.1 / Individual Labor Supply 510
Consumption versus Leisure 510
Indifference Curves 510
Changes in the Budget Line 512
Changes in Income 512 An Increase in the Wage
Rate 513 Income and Substitution Effects 513
Thelncome and Substitution Effects via Geometry 514
Comparing the Two Effects 515
The Worker s Supply of Labor 516
Deriving the Labor Supply Curve 516 Using the Labor
Supply Curve 517
A Digression: The Demand for Sleep 517
xxxii Contents
15.2 / Labor Market Equilibrium 518
Changes in Nonlabor Income 519
Changes in Productivity 519
15.3 / Labor Supply in General Equilibrium 520
The Nonlabor Income Effect 522
Measuring the Nonlabor Income Effect 522
Valuing a Productive Asset 524
The Farmer s Budget Line 525
The Farmer s Optimum 525
The Representative Agent 527
Deriving the Labor Supply Curve 528
The Shape of the Labor Supply Curve 530 Comparing the
Two Supply Curves 530
15.4 / The Labor Market in General Equilibrium 530
Effect of an Increase in Wealth 530
Effect of a Technological Improvement 532
Effect of a Change in Working Conditions 532
Intertemporal Substitution 533
Effect of a Temporary Technological Improvement 534
15.5 / Differences in Wages 536
Human Capital 536
Signaling 537 Education as Consumption 537
Compensating Differentials 537
Access to Capital 538
15.6 / Discrimination 540
Theories of Discrimination 540
Wage Differences Due to Worker Preferences 542
Human Capital Inheritance 542
Summary 543
Review Questions 545
Problem Set 545
CHAPTER 16
Allocating Goods over Time 549
16.1 / Bonds and Interest Rates 550
Relative Prices, Interest Rates,
and Present Values 550
Present Values 551 Example: Treasury Bills 551
The More Distant Future 552 Coupon Bonds 552
Perpetuities 553
Bonds Denominated in Dollars 554
Default Risk 555
Treasury Bills: A Risk Free Asset? 555
16.2 / Applications 556
Valuing a Productive Asset 557
Corporate Stocks 557 Valuing Durable Commodities: Is
Art a Good Investment? 558
Should You Pay with Cash or Credit 559
Contents xxxiii
Government Debt 560
Planned Obsolescence 561
Artists Royalties 562
Old Taxes Are Fair Taxes 564
The Pricing of Exhaustible Resources 565
16.3 / The Market for Current Consumption 566
The Consumer s Choice 566
Time Preference 566 Opportunities 568 The Consumer s
Optimum 568
The Demand for Current Consumption 569
The Supply of Current Consumption 570
Equilibrium 571
Equilibrium and the Representative Agent 571
Wliy Interest Rates Are Positive 573 Are Low Interest
Rates Better than High Ones? 573
Changes in Equilibrium 574
A Brighter Future 574 A Brighter Present 576
A Permanent Productivity Increase 577 Government
Debt Revisited 578
16.4 / Production and Investment 581
The Demand for Capital 581
The Marginal Product of Capital 582 Tlie Marginal
Product of Capital versus the Interest Rate 582
The Supply of Current Consumption 583
Equilibrium 583
Summary 585
Review Questions 586
Problem Set 586
CHAPTER 17
Risk and Uncertainty 593
17.1 / Attitudes toward Risk 594
Characterizing Baskets 595
Expected Values 595 Riskiness 596
Opportunities 596
Fair Odds 598
Preferences and the Consumer s Optimum 598
The Frequent Gambler 598 Risk Neutrality 599 Risk
Aversion 601 Risk Preference 602 Wtiich Preferences
Are Most Likely? 603
Gambling at Favorable Odds 605
Risk and Society 607
17.2 / The Market for Insurance 607
Imperfect Information 608
Uninsurable Risks 610
17.3 / Futures Markets 610
Speculation 611
Speculation and Welfare 612
xxxiv Contents
17A I Markets for Risky Assets 614
Portfolios 615
The Geometry of Portfolios 616 The Efficient Set 618
The Investor s Choice 619
Introduction of a Risk Free Asset 620
Constructing a Market Portfolio 622
17.5 / Rational Expectations 623
A Market with Uncertain Demand 624
Why Economists Make Wrong Predictions 626 Example:
Tweedledum and Tweedledee 628
Summary 629
Review Questions 631
Problem Set 631
CHAPTER 18
Money 635
18.1 / The Demand for Money 635
The Price Level and the
Cost of Holding Money 636
Money Holdings and Real Balances 637 Real versus
Nominal Quantities 637 The Cost of Holding
Money 638 The Cost of Holding Real Balances 638
The Demand for Real Balances 638
The Consumer s Choice 640 Changes in Demand 640
Welfare 642
The Optimal Subsidy 642
18.2 / The Supply of Money and
Equilibrium in the Money Market 644
Effect of a Helicopter Drop 644
Seigniorage 646
18.3 / Inflation 647
The Inflation Tax 649
Deflation 650
The Optimal Rate of Deflation 650
Unexpected Inflations 651
Summary 652
Review Questions 653
Problem Set 653
CHAPTER 19
What Is Economics? 655
19.1 / The Nature of Economic Analysis 655
Stages of Economic Analysis 655
Formulating the Individual s Economic Problem 656
Optimization 656 Equilibrium 657 Other Aspects
of Economic Analysis 658
The Value of Economic Analysis 659
Contents xxxv
19.2 / The Rationality Assumption 660
The Role of Assumptions in Science 660
All We Really Need: No Unexploited
Profit Opportunities 661
Example: The Law of One Price 662 Application: The
Pricing of Call Options 662
19.3 / What Is an Economic Explanation? 664
Example: Celebrity Endorsements 664
Example: The Size of Shopping Carts 665
Example: Why Is There Mandatory Retirement? 666
Example: Why Rock Concerts Sell Out 668
Example: 99c Pricing 668
Rationality Revisited 669
19.4 / The Scope of Economic Analysis 669
Laboratory Animals as Rational Agents 670
Rats as Consumers 670 Pigeons as Suppliers of
Labor 670
Altruism and the Selfish Gene 672
The Economics of Scattering 673
Problem Set 674
Appendix A / Calculus Supplement 679
Appendix B / Answers to Exercises 705
Appendix C / Answers to Problems 717
Glossary 736
Index 743
|
| any_adam_object | 1 |
| author | Landsburg, Steven E. |
| author_facet | Landsburg, Steven E. |
| author_role | aut |
| author_sort | Landsburg, Steven E. |
| author_variant | s e l se sel |
| building | Verbundindex |
| bvnumber | BV005721621 |
| callnumber-first | H - Social Science |
| callnumber-label | HB172 |
| callnumber-raw | HB172 |
| callnumber-search | HB172 |
| callnumber-sort | HB 3172 |
| callnumber-subject | HB - Economic Theory and Demography |
| classification_rvk | QC 100 |
| ctrlnum | (OCoLC)23356100 (DE-599)BVBBV005721621 |
| dewey-full | 338.5 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 338 - Production |
| dewey-raw | 338.5 |
| dewey-search | 338.5 |
| dewey-sort | 3338.5 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| edition | 2. ed. |
| format | Book |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>01342nam a2200385 c 4500</leader><controlfield tag="001">BV005721621</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="005">00000000000000.0</controlfield><controlfield tag="007">t</controlfield><controlfield tag="008">921102s1992 d||| |||| 00||| eng d</controlfield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">0030722527</subfield><subfield code="9">0-03-072252-7</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)23356100</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV005721621</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">rakddb</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-384</subfield><subfield code="a">DE-188</subfield></datafield><datafield tag="050" ind1=" " ind2="0"><subfield code="a">HB172</subfield></datafield><datafield tag="082" ind1="0" ind2=" "><subfield code="a">338.5</subfield><subfield code="2">20</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">QC 100</subfield><subfield code="0">(DE-625)141244:</subfield><subfield code="2">rvk</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Landsburg, Steven E.</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Price theory and applications</subfield><subfield code="c">Steven E. Landsberg</subfield></datafield><datafield tag="250" ind1=" " ind2=" "><subfield code="a">2. ed.</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Forth Worth u.a.</subfield><subfield code="b">Dryden Press</subfield><subfield code="c">1992</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">XXXV, 761 S.</subfield><subfield code="b">graph. Darst.</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">n</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">nc</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Microeconomics</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Prices</subfield></datafield><datafield tag="650" ind1="0" ind2="7"><subfield code="a">Preistheorie</subfield><subfield code="0">(DE-588)4115623-7</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="655" ind1=" " ind2="7"><subfield code="0">(DE-588)4143413-4</subfield><subfield code="a">Aufsatzsammlung</subfield><subfield code="2">gnd-content</subfield></datafield><datafield tag="689" ind1="0" ind2="0"><subfield code="a">Preistheorie</subfield><subfield code="0">(DE-588)4115623-7</subfield><subfield code="D">s</subfield></datafield><datafield tag="689" ind1="0" ind2=" "><subfield code="5">DE-604</subfield></datafield><datafield tag="856" ind1="4" ind2="2"><subfield code="m">HBZ Datenaustausch</subfield><subfield code="q">application/pdf</subfield><subfield code="u">http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=003574091&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA</subfield><subfield code="3">Inhaltsverzeichnis</subfield></datafield><datafield tag="999" ind1=" " ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-003574091</subfield></datafield></record></collection> |
| genre | (DE-588)4143413-4 Aufsatzsammlung gnd-content |
| genre_facet | Aufsatzsammlung |
| id | DE-604.BV005721621 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T16:33:38Z |
| institution | BVB |
| isbn | 0030722527 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-003574091 |
| oclc_num | 23356100 |
| open_access_boolean | |
| owner | DE-384 DE-188 |
| owner_facet | DE-384 DE-188 |
| physical | XXXV, 761 S. graph. Darst. |
| publishDate | 1992 |
| publishDateSearch | 1992 |
| publishDateSort | 1992 |
| publisher | Dryden Press |
| record_format | marc |
| spelling | Landsburg, Steven E. Verfasser aut Price theory and applications Steven E. Landsberg 2. ed. Forth Worth u.a. Dryden Press 1992 XXXV, 761 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Microeconomics Prices Preistheorie (DE-588)4115623-7 gnd rswk-swf (DE-588)4143413-4 Aufsatzsammlung gnd-content Preistheorie (DE-588)4115623-7 s DE-604 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=003574091&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Landsburg, Steven E. Price theory and applications Microeconomics Prices Preistheorie (DE-588)4115623-7 gnd |
| subject_GND | (DE-588)4115623-7 (DE-588)4143413-4 |
| title | Price theory and applications |
| title_auth | Price theory and applications |
| title_exact_search | Price theory and applications |
| title_full | Price theory and applications Steven E. Landsberg |
| title_fullStr | Price theory and applications Steven E. Landsberg |
| title_full_unstemmed | Price theory and applications Steven E. Landsberg |
| title_short | Price theory and applications |
| title_sort | price theory and applications |
| topic | Microeconomics Prices Preistheorie (DE-588)4115623-7 gnd |
| topic_facet | Microeconomics Prices Preistheorie Aufsatzsammlung |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=003574091&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| work_keys_str_mv | AT landsburgstevene pricetheoryandapplications |