Intermediate microeconomics: a modern approach
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
New York [u.a.]
Norton
2006
|
| Ausgabe: | 7th ed. |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | XXIV, 715, 39 S. graph. Darst. |
| ISBN: | 0393927024 9780393927023 |
Internformat
MARC
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| 245 | 1 | 0 | |a Intermediate microeconomics |b a modern approach |c Hal R. Varian |
| 250 | |a 7th ed. | ||
| 264 | 1 | |a New York [u.a.] |b Norton |c 2006 | |
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Datensatz im Suchindex
| _version_ | 1804135063172939776 |
|---|---|
| adam_text | CONTENTS PREFACE 1 THE MARKET CONSTRUCTING A MODEL 1 OPTIMIZATION AND
EQUILIBRIUM 3 THE DE- MAND CURVE 3 THE SUPPLY CURVE 5 MARKET EQUILIBRIUM
7 COM- PARATIVE STATICS 9 OTHER WAYS TO ALLOCATE APARTMENTS 11 THE DIS-
CRIMINATING MONOPOLIST * THE ORDINARY MONOPOLIST * RENT CONTROL * WHICH
WAY IS BEST? 14 PARETO EFFICIENCY 15 COMPARING WAYS TO AL- LOCATE
APARTMENTS 16 EQUILIBRIUM IN THE LONG RUN 17 SUMMARY 18 REVIEW QUESTIONS
19 2 BUDGET CONSTRAINT THE BUDGET CONSTRAINT 20 TWO GOODS ARE OFTEN
ENOUGH 21 PROP- ERTIES OF THE BUDGET SET 22 HOW THE BUDGET LINE CHANGES
24 THE NUMERAIRE 26 TAXES, SUBSIDIES, AND RATIONING 26 EXAMPLE: THE FOOD
STAMP PROGRAM BUDGET LINE CHANGES 31 SUMMARY 31 REVIEW QUESTIONS 32 VIII
CONTENTS 3 PREFERENCES CONSUMER PREFERENCES 34 ASSUMPTIONS ABOUT
PREFERENCES 35 INDIF- FERENCE CURVES 36 EXAMPLES OF PREFERENCES 37
PERFECT SUBSTITUTES * PERFECT COMPLEMENTS * BADS * NEUTRALS * SATIATION
* DISCRETE GOODS * WEIL-BEHAVED PREFERENCES 44 THE MARGINAL RATE OF
SUBSTITU- TION 48 OTHER INTERPRETATIONS OF THE MRS 50 BEHAVIOR OF THE
MRS 51 SUMMARY 52 REVIEW QUESTIONS 52 4 UTILITY CARDINAL UTILITY 57
CONSTRUCTING A UTILITY FUNCTION 58 SOME EXAM- PLES OF UTILITY FUNCTIONS
59 EXAMPLE: INDIFFERENCE CURVES FROM UTILITY PERFECT SUBSTITUTES *
PERFECT COMPLEMENTS * QUASILINEAR PREFERENCES * COBB-DOUGLAS PREFERENCES
* MARGINAL UTILITY 65 MARGINAL UTILITY AND MRS 66 UTILITY FOR COMMUTING
67 SUMMARY 69 REVIEW QUESTIONS 70 APPENDIX 70 EXAMPLE: COBB-DOUGLAS
PREFERENCES 5 CHOICE OPTIMAL CHOICE 73 CONSUMER DEMAND 78 SOME EXAMPLES
78 PERFECT SUBSTITUTES * PERFECT COMPLEMENTS * NEUTRALS AND BADS *
DISCRETE GOODS * CONCAVE PREFERENCES * COBB-DOUGLAS PREFERENCES *
ESTIMATING UTILITY FUNCTIONS 83 IMPLICATIONS OF THE MRS CONDITION 85
CHOOSING TAXES 87 SUMMARY 89 REVIEW QUESTIONS 89 APPEN- DIX 90 EXAMPLE:
COBB-DOUGLAS DEMAND FUNCTIONS 6 DEMAND NORMAL AND INFERIOR GOODS 96
INCOME OFFER CURVES AND ENGEL CURVES 97 SOME EXAMPLES 99 PERFECT
SUBSTITUTES * PERFECT COMPLEMENTS * COBB-DOUGLAS PREFERENCES *
HOMOTHETIC PREFERENCES * QUASILINEAR PREFERENCES * ORDINARY GOODS AND
GIFFEN GOODS 104 THE PRICE OFFER CURVE AND THE DEMAND CURVE 106 SOME
EXAMPLES 107 PERFECT SUBSTITUTES * PERFECT COMPLEMENTS * A DISCRETE GOOD
* SUBSTITUTES AND COMPLEMENTS 111 THE INVERSE DEMAND FUNCTION 112
SUMMARY 114 REVIEW QUESTIONS 115 APPENDIX 115 CONTENTS IX 7 REVEALED
PREFERENCE THE IDEA OF REVEALED PREFERENCE 119 FROM REVEALED PREFERENCE
TO PREF- ERENCE 120 RECOVERING PREFERENCES 122 THE WEAK AXIOM OF RE-
VEALED PREFERENCE 124 CHECKING WARP 125 THE STRONG AXIOM OF REVEALED
PREFERENCE 128 HOW TO CHECK SARP 129 INDEX NUMBERS 130 PRICE INDICES 132
EXAMPLE: INDEXING SOCIAL SECURITY PAYMENTS SUMMARY 135 REVIEW QUESTIONS
135 8 SLUTSKY EQUATION THE SUBSTITUTION EFFECT 137 EXAMPLE: CALCULATING
THE SUBSTITUTION EF- FECT THE INCOME EFFECT 141 EXAMPLE: CALCULATING THE
INCOME EFFECT SIGN OF THE SUBSTITUTION EFFECT 142 THE TOTAL CHANGE IN
DEMAND 143 RATES OF CHANGE 144 THE LAW OF DEMAND 147 EXAMPLES OF INCOME
AND SUBSTITUTION EFFECTS 147 EXAMPLE: REBATING A TAX EXAMPLE: VOLUNTARY
REAL TIME PRICING ANOTHER SUBSTITUTION EFFECT 153 COM- PENSATED DEMAND
CURVES 155 SUMMARY 156 REVIEW QUESTIONS 157 APPENDIX 157 EXAMPLE:
REBATING A SMALL TAX 9 BUYING AND SELLING NET AND GROSS DEMANDS 160 THE
BUDGET CONSTRAINT 161 CHANGING THE ENDOWMENT 163 PRICE CHANGES 164 OFFER
CURVES AND DEMAND CURVES 167 THE SLUTSKY EQUATION REVISITED 168 USE OF
THE SLUT- SKY EQUATION 172 EXAMPLE: CALCULATING THE ENDOWMENT INCOME
EFFECT LABOR SUPPLY 173 THE BUDGET CONSTRAINT * COMPARATIVE STATICS OF
LABOR SUPPLY 174 EXAMPLE: OVERTIME AND THE SUPPLY OF LABOR SUM- MARY 178
REVIEW QUESTIONS 179 APPENDIX 179 X CONTENTS 10 INTERTEMPORAL CHOICE THE
BUDGET CONSTRAINT 182 PREFERENCES FOR CONSUMPTION 185 COM- PARATIVE
STATICS 186 THE SLUTSKY EQUATION AND INTERTEMPORAL CHOICE 187 INFLATION
189 PRESENT VALUE: A CLOSER LOOK 191 ANALYZ- ING PRESENT VALUE FOR
SEVERAL PERIODS 193 USE OF PRESENT VALUE 194 EXAMPLE: VALUING A STREAM
OF PAYMENTS EXAMPLE: THE TRUE COST OF A CREDIT CARD BONDS 197 EXAMPLE:
INSTALLMENT LOANS TAXES 199 EXAMPLE: SCHOLARSHIPS AND SAVINGS CHOICE OF
THE INTEREST RATE 200 SUMMARY 201 REVIEW QUESTIONS 201 11 ASSET MARKETS
RATES OF RETURN 202 ARBITRAGE AND PRESENT VALUE 204 ADJUSTMENTS FOR
DIFFERENCES AMONG ASSETS 204 ASSETS WITH CONSUMPTION RETURNS 205
TAXATION OF ASSET RETURNS 206 APPLICATIONS 207 DEPLETABLE RESOURCES *
WHEN TO CUT A FOREST * EXAMPLE: GASOLINE PRICES DURING THE GULF WAR
FINANCIA L INSTITUTIONS 211 SUMMARY 212 REVIEW QUESTIONS 213 APPENDIX
213 12 UNCERTAINTY CONTINGENT CONSUMPTION 215 EXAMPLE: CATASTROPHE BONDS
UTILITY FUNCTIONS AND PROBABILITIES 220 EXAMPLE: SOME EXAMPLES OF
UTILITY FUNCTIONS EXPECTED UTILITY 221 WHY EXPECTED UTILITY IS
REASONABLE 222 RISK AVERSION 224 EXAMPLE: THE DEMAND FOR INSURANCE DI-
VERSIFICATION 228 RISK SPREADING 228 ROLE OF THE STOCK MARKET 229
SUMMARY 230 REVIEW QUESTIONS 230 APPENDIX 231 EXAMPLE: THE EFFECT OF
TAXATION ON INVESTMENT IN RISKY ASSETS 13 RISKY ASSETS MEAN-VARIANCE
UTILITY 234 MEASURING RISK 239 EQUILIBRIUM IN A MARKET FOR RISKY ASSETS
241 HOW RETURNS ADJUST 242 EXAMPLE: RANKING MUTUAL FUNDS SUMMARY 246
REVIEW QUESTIONS 246 CONTENTS XI 14 CONSUMER S SURPLUS DEMAND FOR A
DISCRETE GOOD 248 CONSTRUCTING UTILITY FROM DEMAND 249 OTHER
INTERPRETATIONS OF CONSUMER S SURPLUS 250 FROM CON- SUMER S SURPLUS TO
CONSUMERS SURPLUS 251 APPROXIMATING A CONTINU- OUS DEMAND 251
QUASILINEAR UTILITY 251 INTERPRETING THE CHANGE IN CONSUMER S SURPLUS
252 EXAMPLE: THE CHANGE IN CONSUMER S SURPLUS COMPENSATING AND
EQUIVALENT VARIATION 254 EXAMPLE: COMPENSATING AND EQUIVALENT VARIATIONS
EXAMPLE: COMPENSATING AND EQUIVALENT VARI- ATION FOR QUASILINEAR
PREFERENCES PRODUCER S SURPLUS 258 BENEFIT-COST ANALYSIS 260 RATIONING *
CALCULATING GAINS AND LOSSES 262 SUM- MARY 263 REVIEW QUESTIONS 263
APPENDIX 264 EXAMPLE: A FEW DEMAND FUNCTIONS EXAMPLE: CV, EV, AND
CONSUMER S SURPLUS 15 MARKET DEMAND FROM INDIVIDUAL TO MARKET DEMAND 266
THE INVERSE DEMAND FUNCTION 268 EXAMPLE: ADDING UP LINEAR DEMAND
CURVES DISCRETE GOODS 269 THE EXTENSIVE AND THE INTENSIVE MARGIN 269
ELASTICITY 270 EXAMPLE: THE ELASTICITY OF A LINEAR DEMAND CURVE
ELASTICITY AND DE- MAND 272 ELASTICITY AND REVENUE 273 EXAMPLE: STRIKES
AND PROFITS CONSTANT ELASTICITY DEMANDS 276 ELASTICITY AND MARGINAL
REVENUE 277 EXAMPLE: SETTING A PRICE MARGINAL REVENUE CURVES 279 INCOME
ELAS- TICITY 280 SUMMARY 281 REVIEW QUESTIONS 282 APPENDIX 283 EXAMPLE:
THE LAFFER CURVE EXAMPLE: ANOTHER EXPRESSION FOR ELASTICITY 16
EQUILIBRIUM SUPPLY 289 MARKET EQUILIBRIUM 289 TWO SPECIAL CASES 290 IN-
VERSE DEMAND AND SUPPLY CURVES 291 EXAMPLE: EQUILIBRIUM WITH LIN- EAR
CURVES COMPARATIVE STATICS 293 EXAMPLE: SHIFTING BOTH CURVES TAXES 294
EXAMPLE: TAXATION WITH LINEAR DEMAND AND SUPPLY PASS - ING ALONG A TAX
298 THE DEADWEIGHT LOSS OF A TAX 300 EXAMPLE: THE MARKET FOR LOANS
EXAMPLE: FOOD SUBSIDIES EXAMPLE: SUBSIDIES IN IRAQ PARETO EFFICIENCY 306
EXAMPLE: WAITING IN LINE SUMMARY 309 REVIEW QUESTIONS 309 XII CONTENTS
17 AUCTIONS CLASSIFICATION OF AUCTIONS 312 BIDDING RULES * AUCTION
DESIGN 313 OTHER AUCTION FORMS 316 EXAMPLE: LATE BIDDING ON EBAY
EXAMPLE: ONLINE AD AUCTIONS PROBLEMS WITH AUCTIONS 319 THE WINNER S
CURSE 320 SUMMARY 320 REVIEW QUESTIONS 321 18 TECHNOLOGY INPUTS AND
OUTPUTS 322 DESCRIBING TECHNOLOGICAL CONSTRAINTS 323 EXAMPLES OF
TECHNOLOGY 324 FIXED PROPORTIONS * PERFECT SUBSTITUTES * COBB-DOUGLAS *
PROPERTIES OF TECHNOLOGY 326 THE MARGINAL PRODUCT 328 THE TECHNICAL RATE
OF SUBSTITUTION 328 DIMINISHING MARGINAL PRODUCT 329 DIMINISHING
TECHNICAL RATE OF SUBSTITUTION 329 THE LONG RUN AND THE SHORT RUN 330
RETURNS TO SCALE 330 SUMMARY 332 REVIEW QUESTIONS 333 19 PROFIT
MAXIMIZATION PROFITS 334 THE ORGANIZATION OF FIRMS 336 PROFITS AND STOCK
MARKET VALUE 336 THE BOUNDARIES OF THE FIRM 338 FIXED AND VARIABLE FAC-
TORS 339 SHORT-RUN PROFIT MAXIMIZATION 339 COMPARATIVE STATICS 341
PROFIT MAXIMIZATION IN THE LONG RUN 342 INVERSE FACTOR DEMAND CURVES 343
PROFIT MAXIMIZATION AND RETURNS TO SCALE 344 REVEALED PROFITABILITY 345
EXAMPLE: HOW DO FARMERS REACT TO PRICE SUPPORTS? COST MINIMIZATION 349
SUMMARY 349 REVIEW QUESTIONS 350 AP- PENDIX 351 20 COST MINIMIZATION
COST MINIMIZATION 353 EXAMPLE: MINIMIZING COSTS FOR SPECIFIC TECH-
NOLOGIES REVEALED COST MINIMIZATION 357 RETURNS TO SCALE AND THE COST
FUNCTION 358 LONG-RUN AND SHORT-RUN COSTS 360 FIXED AND QUASI-FIXED
COSTS 362 SUNK COSTS 362 SUMMARY 363 REVIEW QUESTIONS 363 APPENDIX 364
CONTENTS XIII 21 COST CURVES AVERAGE COSTS 367 MARGINAL COSTS 369
MARGINAL COSTS AND VARIABLE COSTS 371 EXAMPLE: SPECIFIC COST CURVES
EXAMPLE: MARGINAL COST CURVES FOR TWO PLANTS LONG-RUN COSTS 375 DISCRETE
LEVELS OF PLANT SIZE 377 LONG-RUN MARGINAL COSTS 379 SUMMARY 380 REVIEW
QUESTIONS 381 APPENDIX 381 22 FIRM SUPPLY MARKET ENVIRONMENTS 383 PUR E
COMPETITION 384 THE SUPPLY DECI- SION OF A COMPETITIVE FIRM 386 AN
EXCEPTION 388 ANOTHER EXCEPTION 389 EXAMPLE: PRICING OPERATING SYSTEMS
THE INVERSE SUPPLY FUNC- TION 391 PROFITS AND PRODUCER S SURPLUS 391
EXAMPLE: THE SUPPLY CURVE FOR A SPECIFIC COST FUNCTION THE LONG-RUN
SUPPLY CURVE OF A FIRM 395 LONG-RUN CONSTANT AVERAGE COSTS 397 SUMMARY
398 REVIEW QUESTIONS 399 APPENDIX 399 23 INDUSTRY SUPPLY SHORT-RUN
INDUSTRY SUPPLY 401 INDUSTRY EQUILIBRIUM IN THE SHORT RUN 402 INDUSTRY
EQUILIBRIUM IN THE LONG RUN 403 THE LONG-RUN SUPPLY CURVE 405 EXAMPLE:
TAXATION IN THE LONG RUN AND IN THE SHORT, RUN THE MEANING OF ZERO
PROFITS 409 FIXED FACTORS AND ECONOMIC RENT 410 EXAMPLE: TAXI LICENSES
IN NEW YORK CITY ECONOMIC RENT 412 RENTAL RATES AND PRICES 414 EXAMPLE:
LIQUOR LICENSES TH E POLITICS OF RENT 415 EXAMPLE: FARMING THE
GOVERNMENT ENERGY POLICY 417 TWO-TIERED OIL PRICING * PRICE CONTROLS *
THE ENTITLEMENT PROGRAM * SUMMARY 421 REVIEW QUESTIONS 422 XIV CONTENTS
24 MONOPOLY MAXIMIZING PROFITS 424 LINEAR DEMAND CURVE AND MONOPOLY 425
MARKUP PRICING 427 EXAMPLE: THE IMPACT OF TAXES ON A MONOPO- LIST
INEFFICIENCY OF MONOPOLY 429 DEADWEIGHT LOSS OF MONOPOLY 431 EXAMPLE:
THE OPTIMAL LIFE OF A PATENT EXAMPLE: PATENT THICKETS NAT- URAL MONOPOLY
435 WHAT CAUSES MONOPOLIES? 437 EXAMPLE: DI- AMONDS ARE FOREVER EXAMPLE:
POOLING IN AUCTION MARKETS EXAMPLE: PRICE FIXING IN COMPUTER MEMORY
MARKETS SUMMARY 441 REVIEW QUESTIONS 442 APPENDIX 443 25 MONOPOLY
BEHAVIOR PRICE DISCRIMINATION 445 FIRST-DEGREE PRICE DISCRIMINATION 445
EX- AMPLE: FIRST-DEGREE PRICE DISCRIMINATION IN PRACTICE SECOND-DEGREE
PRICE DISCRIMINATION 448 EXAMPLE: PRICE DISCRIMINATION IN AIRFARES EX-
AMPLE: PRESCRIPTION DRUG PRICES THIRD-DEGREE PRICE DISCRIMINATION 452
EXAMPLE: LINEAR DEMAND CURVES EXAMPLE: CALCULATING OPTIMAL PRICE
DISCRIMINATION EXAMPLE: PRICE DISCRIMINATION IN ACADEMIC JOURNALS
BUNDLING 457 EXAMPLE: SOFTWARE SUITES TWO-PART TARIFFS 458 MO-
NOPOLISTIC COMPETITION 459 A LOCATION MODEL OF PRODUCT DIFFERENTIATION
463 PRODUCT DIFFERENTIATION 465 MORE VENDORS 466 SUMMARY 467 REVIEW
QUESTIONS 467 26 FACTOR MARKETS MONOPOLY IN THE OUTPUT MARKET 468
MONOPSONY 471 EXAMPLE: THE MINIMUM WAGE UPSTREAM AND DOWNSTREAM
MONOPOLIES 475 SUMMARY 477 REVIEW QUESTIONS 478 APPENDIX 478 CONTENTS XV
27 OLIGOPOLY CHOOSING A STRATEGY 481 QUANTITY LEADERSHIP 481 THE
FOLLOWER S PROBLEM * THE LEADER S PROBLEM * PRICE LEADERSHIP 487
COMPARING PRICE LEADERSHIP AND QUANTITY LEADERSHIP 489 SIMULTANEOUS
QUANTITY SETTING 489 AN EXAMPLE OF COURNOT EQUILIBRIUM 491 ADJUSTMENT TO
EQUILIBRIUM 493 MANY FIRMS IN COURNOT EQUILIBRIUM 493 SIMULTA- NEOUS
PRICE SETTING 494 COLLUSION 495 PUNISHMENT STRATEGIES 498 EXAMPLE: PRICE
MATCHING AND COMPETITION EXAMPLE: VOLUNTARY EXPORT RESTRAINTS COMPARISON
OF THE SOLUTIONS 501 SUMMARY 502 REVIEW QUESTIONS 503 28 GAME THEORY THE
PAYOFF MATRIX OF A GAME 504 NASH EQUILIBRIUM 506 MIXED STRATEGIES 507
EXAMPLE: ROCK PAPER SCISSORS THE PRISONER S DILEMMA 509 REPEATED GAMES
511 ENFORCING A CARTEL 512 EXAMPLE: TIT FOR TAT IN AIRLINE PRICING
SEQUENTIAL GAMES 514 A GAME OF ENTRY DETERRENCE 516 SUMMARY 518 REVIEW
QUESTIONS 519 29 GAME APPLICATIONS BEST RESPONSE CURVES 520 MIXED
STRATEGIES 522 GAMES OF COORDI- NATION 524 BATTLE OF THE SEXES *
PRISONER S DILEMMA * ASSURANCE GAMES * CHICKEN * HOW TO COORDINATE *
GAMES OF COMPETITION 528 GAMES OF COEXISTENCE 533 GAMES OF COMMITMENT
535 THE FROG AND THE SCORPION * THE KINDLY KIDNAPPER * WHEN STRENGTH IS
WEAKNESS * SAVINGS AND SOCIAL SECURITY * HOLD UP * BARGAINING 543 THE
ULTIMATUM GAME * SUMMARY 546 REVIEW QUESTIONS 547 XVI CONTENTS 30
BEHAVIORAL ECONOMICS FRAMING EFFECTS IN CONSUMER CHOICE 549 THE DISEASE
DILEMMA * ANCHORING EFFECTS * BRACKETING * TOO MUCH CHOICE * CONSTRUCTED
PREFERENCES * UNCERTAINTY 553 LAW OF SMALL NUMBERS * ASSET IN- TEGRATION
AND LOSS AVERSION * TIME 556 DISCOUNTING * SELF-CONTROL * EXAMPLE:
OVERCONFIDENCE STRATEGIC INTERACTION AND SOCIAL NORMS 558 ULTIMATUM GAME
* FAIRNESS * ASSESSMENT OF BEHAVIORAL ECONOMICS 560 SUMMARY 561 REVIEW
QUESTIONS 563 31 EXCHANGE THE EDGEWORTH BOX 565 TRADE 567 PARETO
EFFICIENT ALLOCATIONS 568 MARKET TRADE 570 THE ALGEBRA OF EQUILIBRIUM
572 WALRAS LAW 574 RELATIVE PRICES 575 EXAMPLE: AN ALGEBRAIC EXAMPLE OF
EQUILIBRIUM THE EXISTENCE OF EQUILIBRIUM 577 EQUILIBRIUM AND EFFI-
CIENCY 578 THE ALGEBRA OF EFFICIENCY 579 EXAMPLE: MONOPOLY IN THE
EDGEWORTH BOX EFFICIENCY AND EQUILIBRIUM 582 IMPLICATIONS OF THE FIRST
WELFARE THEOREM 584 IMPLICATIONS OF THE SECOND WELFARE THEOREM 586
SUMMARY 588 REVIEW QUESTIONS 589 APPENDIX 589 32 PRODUCTION THE ROBINSON
CRUSOE ECONOMY 591 CRUSOE, INC. 593 THE FIRM 594 ROBINSON S PROBLEM 595
PUTTING THEM TOGETHER 595 DIFFERENT TECH- NOLOGIES 597 PRODUCTION AND
THE FIRST WELFARE THEOREM 599 PRODUC- TION AND THE SECOND WELFARE
THEOREM 600 PRODUCTION POSSIBILITIES 600 COMPARATIVE ADVANTAGE 602
PARETO EFFICIENCY 604 CASTAWAYS, INC. 606 ROBINSON AND FRIDAY AS
CONSUMERS 608 DECENTRALIZED RESOURCE ALLOCATION 609 SUMMARY 610 REVIEW
QUESTIONS 610 APPEN- DIX 611 CONTENTS XVII 33 WELFARE AGGREGATION OF
PREFERENCES 614 SOCIAL WELFARE FUNCTIONS 616 WELFARE MAXIMIZATION 618
INDIVIDUALISTIC SOCIAL WELFARE FUNCTIONS 620 FAIR ALLOCATIONS 621 ENVY
AND EQUITY 622 SUMMARY 624 REVIEW QUESTIONS 624 APPENDIX 625 34
EXTERNALITIES SMOKERS AND NONSMOKERS 627 * QUASILINEAR PREFERENCES AND
THE COASE THEOREM 630 PRODUCTION EXTERNALITIES 632 EXAMPLE: POLLUTION
VOUCHERS INTERPRETATION OF THE CONDITIONS 637 MARKET SIGNALS 640
EXAMPLE: BEES AND ALMONDS THE TRAGEDY OF THE COMMONS 641 EX- AMPLE:
OVERFTSHING EXAMPLE: NEW ENGLAND LOBSTERS AUTOMOBILE POLLU- TION 645
SUMMARY 647 REVIEW QUESTIONS 647 35 INFORMATION TECHNOLOGY SYSTEMS
COMPETITION 650 THE PROBLEM OF COMPLEMENTS 650 RE- LATIONSHIPS AMONG
COMPLEMENTORS * LOCK-IN 654 A MODEL OF COM- PETITION WITH SWITCHING
COSTS * EXAMPLE: ONLINE BILL PAYMENT EX- AMPLE: NUMBER PORTABILITY ON
CELL PHONES NETWORK EXTERNALITIES 658 MARKETS WITH NETWORK EXTERNALITIES
658 MARKET DYNAMICS 660 EX- AMPLE: NETWORK EXTERNALITIES IN COMPUTER
SOFTWARE IMPLICATIONS OF NET- WORK EXTERNALITIES 664 EXAMPLE: THE YELLOW
PAGES RIGHTS MANAGE- MENT 665 EXAMPLE: VIDEO RENTAL SHARING INTELLECTUAL
PROPERTY 667 SUMMARY 669 REVIEW QUESTIONS 669 36 PUBLIC GOODS WHEN TO
PROVIDE A PUBLIC GOOD? 671 PRIVATE PROVISION OF THE PUBLIC GOOD 675 FREE
RIDING 675 DIFFERENT LEVELS OF THE PUBLIC GOOD 677 QUASILINEAR
PREFERENCES AND PUBLIC GOODS 679 EXAMPLE: POLLUTION RE- VISITED THE FREE
RIDER PROBLEM 681 COMPARISON TO PRIVATE GOODS 683 VOTING 684 EXAMPLE:
AGENDA MANIPULATION DEMAND REVELATION 687 EXAMPLE: AN EXAMPLE OF THE
CLARKE TAX PROBLEMS WITH THE CLARKE TAX 691 SUMMARY 692 REVIEW QUESTIONS
692 APPENDIX 693 XVIII CONTENTS 37 ASYMMETRIC INFORMATION THE MARKET FOR
LEMONS 695 QUALITY CHOICE 696 CHOOSING THE QUAL- ITY * ADVERSE SELECTION
698 MORAL HAZARD 700 MORAL HAZARD AND ADVERSE SELECTION 701 SIGNALING
702 EXAMPLE: THE SHEEPSKIN EFFECT INCENTIVES 706 EXAMPLE: VOTING RIGHTS
IN THE CORPORATION EXAMPLE: CHINESE ECONOMIC REFORMS ASYMMETRIC
INFORMATION 711 EXAMPLE: MONITORING COSTS EXAMPLE: THE GRAMEEN BANK
SUMMARY 714 RE- VIEW QUESTIONS 715 MATHEMATICAL APPENDIX FUNCTIONS AL
GRAPHS A2 PROPERTIES OF FUNCTIONS A2 INVERSE FUNCTIONS A3 EQUATIONS AND
IDENTITIES A3 LINEAR FUNCTIONS A4 CHANGES AND RATES OF CHANGE A4 SLOPES
AND INTERCEPTS A5 ABSOLUTE VALUES AND LOGARITHMS A6 DERIVATIVES A6
SECOND DERIVATIVES A7 THE PRODUCT RULE AND THE CHAIN RULE A8 PARTIAL
DERIVATIVES A8 OPTIMIZATION A9 CONSTRAINED OPTIMIZATION A10 ANSWERS AH
INDEX A3I
|
| adam_txt |
CONTENTS PREFACE 1 THE MARKET CONSTRUCTING A MODEL 1 OPTIMIZATION AND
EQUILIBRIUM 3 THE DE- MAND CURVE 3 THE SUPPLY CURVE 5 MARKET EQUILIBRIUM
7 COM- PARATIVE STATICS 9 OTHER WAYS TO ALLOCATE APARTMENTS 11 THE DIS-
CRIMINATING MONOPOLIST * THE ORDINARY MONOPOLIST * RENT CONTROL * WHICH
WAY IS BEST? 14 PARETO EFFICIENCY 15 COMPARING WAYS TO AL- LOCATE
APARTMENTS 16 EQUILIBRIUM IN THE LONG RUN 17 SUMMARY 18 REVIEW QUESTIONS
19 2 BUDGET CONSTRAINT THE BUDGET CONSTRAINT 20 TWO GOODS ARE OFTEN
ENOUGH 21 PROP- ERTIES OF THE BUDGET SET 22 HOW THE BUDGET LINE CHANGES
24 THE NUMERAIRE 26 TAXES, SUBSIDIES, AND RATIONING 26 EXAMPLE: THE FOOD
STAMP PROGRAM BUDGET LINE CHANGES 31 SUMMARY 31 REVIEW QUESTIONS 32 VIII
CONTENTS 3 PREFERENCES CONSUMER PREFERENCES 34 ASSUMPTIONS ABOUT
PREFERENCES 35 INDIF- FERENCE CURVES 36 EXAMPLES OF PREFERENCES 37
PERFECT SUBSTITUTES * PERFECT COMPLEMENTS * BADS * NEUTRALS * SATIATION
* DISCRETE GOODS * WEIL-BEHAVED PREFERENCES 44 THE MARGINAL RATE OF
SUBSTITU- TION 48 OTHER INTERPRETATIONS OF THE MRS 50 BEHAVIOR OF THE
MRS 51 SUMMARY 52 REVIEW QUESTIONS 52 4 UTILITY CARDINAL UTILITY 57
CONSTRUCTING A UTILITY FUNCTION 58 SOME EXAM- PLES OF UTILITY FUNCTIONS
59 EXAMPLE: INDIFFERENCE CURVES FROM UTILITY PERFECT SUBSTITUTES *
PERFECT COMPLEMENTS * QUASILINEAR PREFERENCES * COBB-DOUGLAS PREFERENCES
* MARGINAL UTILITY 65 MARGINAL UTILITY AND MRS 66 UTILITY FOR COMMUTING
67 SUMMARY 69 REVIEW QUESTIONS 70 APPENDIX 70 EXAMPLE: COBB-DOUGLAS
PREFERENCES 5 CHOICE OPTIMAL CHOICE 73 CONSUMER DEMAND 78 SOME EXAMPLES
78 PERFECT SUBSTITUTES * PERFECT COMPLEMENTS * NEUTRALS AND BADS *
DISCRETE GOODS * CONCAVE PREFERENCES * COBB-DOUGLAS PREFERENCES *
ESTIMATING UTILITY FUNCTIONS 83 IMPLICATIONS OF THE MRS CONDITION 85
CHOOSING TAXES 87 SUMMARY 89 REVIEW QUESTIONS 89 APPEN- DIX 90 EXAMPLE:
COBB-DOUGLAS DEMAND FUNCTIONS 6 DEMAND NORMAL AND INFERIOR GOODS 96
INCOME OFFER CURVES AND ENGEL CURVES 97 SOME EXAMPLES 99 PERFECT
SUBSTITUTES * PERFECT COMPLEMENTS * COBB-DOUGLAS PREFERENCES *
HOMOTHETIC PREFERENCES * QUASILINEAR PREFERENCES * ORDINARY GOODS AND
GIFFEN GOODS 104 THE PRICE OFFER CURVE AND THE DEMAND CURVE 106 SOME
EXAMPLES 107 PERFECT SUBSTITUTES * PERFECT COMPLEMENTS * A DISCRETE GOOD
* SUBSTITUTES AND COMPLEMENTS 111 THE INVERSE DEMAND FUNCTION 112
SUMMARY 114 REVIEW QUESTIONS 115 APPENDIX 115 CONTENTS IX 7 REVEALED
PREFERENCE THE IDEA OF REVEALED PREFERENCE 119 FROM REVEALED PREFERENCE
TO PREF- ERENCE 120 RECOVERING PREFERENCES 122 THE WEAK AXIOM OF RE-
VEALED PREFERENCE 124 CHECKING WARP 125 THE STRONG AXIOM OF REVEALED
PREFERENCE 128 HOW TO CHECK SARP 129 INDEX NUMBERS 130 PRICE INDICES 132
EXAMPLE: INDEXING SOCIAL SECURITY PAYMENTS SUMMARY 135 REVIEW QUESTIONS
135 8 SLUTSKY EQUATION THE SUBSTITUTION EFFECT 137 EXAMPLE: CALCULATING
THE SUBSTITUTION EF- FECT THE INCOME EFFECT 141 EXAMPLE: CALCULATING THE
INCOME EFFECT SIGN OF THE SUBSTITUTION EFFECT 142 THE TOTAL CHANGE IN
DEMAND 143 RATES OF CHANGE 144 THE LAW OF DEMAND 147 EXAMPLES OF INCOME
AND SUBSTITUTION EFFECTS 147 EXAMPLE: REBATING A TAX EXAMPLE: VOLUNTARY
REAL TIME PRICING ANOTHER SUBSTITUTION EFFECT 153 COM- PENSATED DEMAND
CURVES 155 SUMMARY 156 REVIEW QUESTIONS 157 APPENDIX 157 EXAMPLE:
REBATING A SMALL TAX 9 BUYING AND SELLING NET AND GROSS DEMANDS 160 THE
BUDGET CONSTRAINT 161 CHANGING THE ENDOWMENT 163 PRICE CHANGES 164 OFFER
CURVES AND DEMAND CURVES 167 THE SLUTSKY EQUATION REVISITED 168 USE OF
THE SLUT- SKY EQUATION 172 EXAMPLE: CALCULATING THE ENDOWMENT INCOME
EFFECT LABOR SUPPLY 173 THE BUDGET CONSTRAINT * COMPARATIVE STATICS OF
LABOR SUPPLY 174 EXAMPLE: OVERTIME AND THE SUPPLY OF LABOR SUM- MARY 178
REVIEW QUESTIONS 179 APPENDIX 179 X CONTENTS 10 INTERTEMPORAL CHOICE THE
BUDGET CONSTRAINT 182 PREFERENCES FOR CONSUMPTION 185 COM- PARATIVE
STATICS 186 THE SLUTSKY EQUATION AND INTERTEMPORAL CHOICE 187 INFLATION
189 PRESENT VALUE: A CLOSER LOOK 191 ANALYZ- ING PRESENT VALUE FOR
SEVERAL PERIODS 193 USE OF PRESENT VALUE 194 EXAMPLE: VALUING A STREAM
OF PAYMENTS EXAMPLE: THE TRUE COST OF A CREDIT CARD BONDS 197 EXAMPLE:
INSTALLMENT LOANS TAXES 199 EXAMPLE: SCHOLARSHIPS AND SAVINGS CHOICE OF
THE INTEREST RATE 200 SUMMARY 201 REVIEW QUESTIONS 201 11 ASSET MARKETS
RATES OF RETURN 202 ARBITRAGE AND PRESENT VALUE 204 ADJUSTMENTS FOR
DIFFERENCES AMONG ASSETS 204 ASSETS WITH CONSUMPTION RETURNS 205
TAXATION OF ASSET RETURNS 206 APPLICATIONS 207 DEPLETABLE RESOURCES *
WHEN TO CUT A FOREST * EXAMPLE: GASOLINE PRICES DURING THE GULF WAR
FINANCIA L INSTITUTIONS 211 SUMMARY 212 REVIEW QUESTIONS 213 APPENDIX
213 12 UNCERTAINTY CONTINGENT CONSUMPTION 215 EXAMPLE: CATASTROPHE BONDS
UTILITY FUNCTIONS AND PROBABILITIES 220 EXAMPLE: SOME EXAMPLES OF
UTILITY FUNCTIONS EXPECTED UTILITY 221 WHY EXPECTED UTILITY IS
REASONABLE 222 RISK AVERSION 224 EXAMPLE: THE DEMAND FOR INSURANCE DI-
VERSIFICATION 228 RISK SPREADING 228 ROLE OF THE STOCK MARKET 229
SUMMARY 230 REVIEW QUESTIONS 230 APPENDIX 231 EXAMPLE: THE EFFECT OF
TAXATION ON INVESTMENT IN RISKY ASSETS 13 RISKY ASSETS MEAN-VARIANCE
UTILITY 234 MEASURING RISK 239 EQUILIBRIUM IN A MARKET FOR RISKY ASSETS
241 HOW RETURNS ADJUST 242 EXAMPLE: RANKING MUTUAL FUNDS SUMMARY 246
REVIEW QUESTIONS 246 CONTENTS XI 14 CONSUMER'S SURPLUS DEMAND FOR A
DISCRETE GOOD 248 CONSTRUCTING UTILITY FROM DEMAND 249 OTHER
INTERPRETATIONS OF CONSUMER'S SURPLUS 250 FROM CON- SUMER'S SURPLUS TO
CONSUMERS' SURPLUS 251 APPROXIMATING A CONTINU- OUS DEMAND 251
QUASILINEAR UTILITY 251 INTERPRETING THE CHANGE IN CONSUMER'S SURPLUS
252 EXAMPLE: THE CHANGE IN CONSUMER'S SURPLUS COMPENSATING AND
EQUIVALENT VARIATION 254 EXAMPLE: COMPENSATING AND EQUIVALENT VARIATIONS
EXAMPLE: COMPENSATING AND EQUIVALENT VARI- ATION FOR QUASILINEAR
PREFERENCES PRODUCER'S SURPLUS 258 BENEFIT-COST ANALYSIS 260 RATIONING *
CALCULATING GAINS AND LOSSES 262 SUM- MARY 263 REVIEW QUESTIONS 263
APPENDIX 264 EXAMPLE: A FEW DEMAND FUNCTIONS EXAMPLE: CV, EV, AND
CONSUMER'S SURPLUS 15 MARKET DEMAND FROM INDIVIDUAL TO MARKET DEMAND 266
THE INVERSE DEMAND FUNCTION 268 EXAMPLE: ADDING UP "LINEAR" DEMAND
CURVES DISCRETE GOODS 269 THE EXTENSIVE AND THE INTENSIVE MARGIN 269
ELASTICITY 270 EXAMPLE: THE ELASTICITY OF A LINEAR DEMAND CURVE
ELASTICITY AND DE- MAND 272 ELASTICITY AND REVENUE 273 EXAMPLE: STRIKES
AND PROFITS CONSTANT ELASTICITY DEMANDS 276 ELASTICITY AND MARGINAL
REVENUE 277 EXAMPLE: SETTING A PRICE MARGINAL REVENUE CURVES 279 INCOME
ELAS- TICITY 280 SUMMARY 281 REVIEW QUESTIONS 282 APPENDIX 283 EXAMPLE:
THE LAFFER CURVE EXAMPLE: ANOTHER EXPRESSION FOR ELASTICITY 16
EQUILIBRIUM SUPPLY 289 MARKET EQUILIBRIUM 289 TWO SPECIAL CASES 290 IN-
VERSE DEMAND AND SUPPLY CURVES 291 EXAMPLE: EQUILIBRIUM WITH LIN- EAR
CURVES COMPARATIVE STATICS 293 EXAMPLE: SHIFTING BOTH CURVES TAXES 294
EXAMPLE: TAXATION WITH LINEAR DEMAND AND SUPPLY PASS - ING ALONG A TAX
298 THE DEADWEIGHT LOSS OF A TAX 300 EXAMPLE: THE MARKET FOR LOANS
EXAMPLE: FOOD SUBSIDIES EXAMPLE: SUBSIDIES IN IRAQ PARETO EFFICIENCY 306
EXAMPLE: WAITING IN LINE SUMMARY 309 REVIEW QUESTIONS 309 XII CONTENTS
17 AUCTIONS CLASSIFICATION OF AUCTIONS 312 BIDDING RULES * AUCTION
DESIGN 313 OTHER AUCTION FORMS 316 EXAMPLE: LATE BIDDING ON EBAY
EXAMPLE: ONLINE AD AUCTIONS PROBLEMS WITH AUCTIONS 319 THE WINNER'S
CURSE 320 SUMMARY 320 REVIEW QUESTIONS 321 18 TECHNOLOGY INPUTS AND
OUTPUTS 322 DESCRIBING TECHNOLOGICAL CONSTRAINTS 323 EXAMPLES OF
TECHNOLOGY 324 FIXED PROPORTIONS * PERFECT SUBSTITUTES * COBB-DOUGLAS *
PROPERTIES OF TECHNOLOGY 326 THE MARGINAL PRODUCT 328 THE TECHNICAL RATE
OF SUBSTITUTION 328 DIMINISHING MARGINAL PRODUCT 329 DIMINISHING
TECHNICAL RATE OF SUBSTITUTION 329 THE LONG RUN AND THE SHORT RUN 330
RETURNS TO SCALE 330 SUMMARY 332 REVIEW QUESTIONS 333 19 PROFIT
MAXIMIZATION PROFITS 334 THE ORGANIZATION OF FIRMS 336 PROFITS AND STOCK
MARKET VALUE 336 THE BOUNDARIES OF THE FIRM 338 FIXED AND VARIABLE FAC-
TORS 339 SHORT-RUN PROFIT MAXIMIZATION 339 COMPARATIVE STATICS 341
PROFIT MAXIMIZATION IN THE LONG RUN 342 INVERSE FACTOR DEMAND CURVES 343
PROFIT MAXIMIZATION AND RETURNS TO SCALE 344 REVEALED PROFITABILITY 345
EXAMPLE: HOW DO FARMERS REACT TO PRICE SUPPORTS? COST MINIMIZATION 349
SUMMARY 349 REVIEW QUESTIONS 350 AP- PENDIX 351 20 COST MINIMIZATION
COST MINIMIZATION 353 EXAMPLE: MINIMIZING COSTS FOR SPECIFIC TECH-
NOLOGIES REVEALED COST MINIMIZATION 357 RETURNS TO SCALE AND THE COST
FUNCTION 358 LONG-RUN AND SHORT-RUN COSTS 360 FIXED AND QUASI-FIXED
COSTS 362 SUNK COSTS 362 SUMMARY 363 REVIEW QUESTIONS 363 APPENDIX 364
CONTENTS XIII 21 COST CURVES AVERAGE COSTS 367 MARGINAL COSTS 369
MARGINAL COSTS AND VARIABLE COSTS 371 EXAMPLE: SPECIFIC COST CURVES
EXAMPLE: MARGINAL COST CURVES FOR TWO PLANTS LONG-RUN COSTS 375 DISCRETE
LEVELS OF PLANT SIZE 377 LONG-RUN MARGINAL COSTS 379 SUMMARY 380 REVIEW
QUESTIONS 381 APPENDIX 381 22 FIRM SUPPLY MARKET ENVIRONMENTS 383 PUR E
COMPETITION 384 THE SUPPLY DECI- SION OF A COMPETITIVE FIRM 386 AN
EXCEPTION 388 ANOTHER EXCEPTION 389 EXAMPLE: PRICING OPERATING SYSTEMS
THE INVERSE SUPPLY FUNC- TION 391 PROFITS AND PRODUCER'S SURPLUS 391
EXAMPLE: THE SUPPLY CURVE FOR A SPECIFIC COST FUNCTION THE LONG-RUN
SUPPLY CURVE OF A FIRM 395 LONG-RUN CONSTANT AVERAGE COSTS 397 SUMMARY
398 REVIEW QUESTIONS 399 APPENDIX 399 23 INDUSTRY SUPPLY SHORT-RUN
INDUSTRY SUPPLY 401 INDUSTRY EQUILIBRIUM IN THE SHORT RUN 402 INDUSTRY
EQUILIBRIUM IN THE LONG RUN 403 THE LONG-RUN SUPPLY CURVE 405 EXAMPLE:
TAXATION IN THE LONG RUN AND IN THE SHORT, RUN THE MEANING OF ZERO
PROFITS 409 FIXED FACTORS AND ECONOMIC RENT 410 EXAMPLE: TAXI LICENSES
IN NEW YORK CITY ECONOMIC RENT 412 RENTAL RATES AND PRICES 414 EXAMPLE:
LIQUOR LICENSES TH E POLITICS OF RENT 415 EXAMPLE: FARMING THE
GOVERNMENT ENERGY POLICY 417 TWO-TIERED OIL PRICING * PRICE CONTROLS *
THE ENTITLEMENT PROGRAM * SUMMARY 421 REVIEW QUESTIONS 422 XIV CONTENTS
24 MONOPOLY MAXIMIZING PROFITS 424 LINEAR DEMAND CURVE AND MONOPOLY 425
MARKUP PRICING 427 EXAMPLE: THE IMPACT OF TAXES ON A MONOPO- LIST
INEFFICIENCY OF MONOPOLY 429 DEADWEIGHT LOSS OF MONOPOLY 431 EXAMPLE:
THE OPTIMAL LIFE OF A PATENT EXAMPLE: PATENT THICKETS NAT- URAL MONOPOLY
435 WHAT CAUSES MONOPOLIES? 437 EXAMPLE: DI- AMONDS ARE FOREVER EXAMPLE:
POOLING IN AUCTION MARKETS EXAMPLE: PRICE FIXING IN COMPUTER MEMORY
MARKETS SUMMARY 441 REVIEW QUESTIONS 442 APPENDIX 443 25 MONOPOLY
BEHAVIOR PRICE DISCRIMINATION 445 FIRST-DEGREE PRICE DISCRIMINATION 445
EX- AMPLE: FIRST-DEGREE PRICE DISCRIMINATION IN PRACTICE SECOND-DEGREE
PRICE DISCRIMINATION 448 EXAMPLE: PRICE DISCRIMINATION IN AIRFARES EX-
AMPLE: PRESCRIPTION DRUG PRICES THIRD-DEGREE PRICE DISCRIMINATION 452
EXAMPLE: LINEAR DEMAND CURVES EXAMPLE: CALCULATING OPTIMAL PRICE
DISCRIMINATION EXAMPLE: PRICE DISCRIMINATION IN ACADEMIC JOURNALS
BUNDLING 457 EXAMPLE: SOFTWARE SUITES TWO-PART TARIFFS 458 MO-
NOPOLISTIC COMPETITION 459 A LOCATION MODEL OF PRODUCT DIFFERENTIATION
463 PRODUCT DIFFERENTIATION 465 MORE VENDORS 466 SUMMARY 467 REVIEW
QUESTIONS 467 26 FACTOR MARKETS MONOPOLY IN THE OUTPUT MARKET 468
MONOPSONY 471 EXAMPLE: THE MINIMUM WAGE UPSTREAM AND DOWNSTREAM
MONOPOLIES 475 SUMMARY 477 REVIEW QUESTIONS 478 APPENDIX 478 CONTENTS XV
27 OLIGOPOLY CHOOSING A STRATEGY 481 QUANTITY LEADERSHIP 481 THE
FOLLOWER'S PROBLEM * THE LEADER'S PROBLEM * PRICE LEADERSHIP 487
COMPARING PRICE LEADERSHIP AND QUANTITY LEADERSHIP 489 SIMULTANEOUS
QUANTITY SETTING 489 AN EXAMPLE OF COURNOT EQUILIBRIUM 491 ADJUSTMENT TO
EQUILIBRIUM 493 MANY FIRMS IN COURNOT EQUILIBRIUM 493 SIMULTA- NEOUS
PRICE SETTING 494 COLLUSION 495 PUNISHMENT STRATEGIES 498 EXAMPLE: PRICE
MATCHING AND COMPETITION EXAMPLE: VOLUNTARY EXPORT RESTRAINTS COMPARISON
OF THE SOLUTIONS 501 SUMMARY 502 REVIEW QUESTIONS 503 28 GAME THEORY THE
PAYOFF MATRIX OF A GAME 504 NASH EQUILIBRIUM 506 MIXED STRATEGIES 507
EXAMPLE: ROCK PAPER SCISSORS THE PRISONER'S DILEMMA 509 REPEATED GAMES
511 ENFORCING A CARTEL 512 EXAMPLE: TIT FOR TAT IN AIRLINE PRICING
SEQUENTIAL GAMES 514 A GAME OF ENTRY DETERRENCE 516 SUMMARY 518 REVIEW
QUESTIONS 519 29 GAME APPLICATIONS BEST RESPONSE CURVES 520 MIXED
STRATEGIES 522 GAMES OF COORDI- NATION 524 BATTLE OF THE SEXES *
PRISONER'S DILEMMA * ASSURANCE GAMES * CHICKEN * HOW TO COORDINATE *
GAMES OF COMPETITION 528 GAMES OF COEXISTENCE 533 GAMES OF COMMITMENT
535 THE FROG AND THE SCORPION * THE KINDLY KIDNAPPER * WHEN STRENGTH IS
WEAKNESS * SAVINGS AND SOCIAL SECURITY * HOLD UP * BARGAINING 543 THE
ULTIMATUM GAME * SUMMARY 546 REVIEW QUESTIONS 547 XVI CONTENTS 30
BEHAVIORAL ECONOMICS FRAMING EFFECTS IN CONSUMER CHOICE 549 THE DISEASE
DILEMMA * ANCHORING EFFECTS * BRACKETING * TOO MUCH CHOICE * CONSTRUCTED
PREFERENCES * UNCERTAINTY 553 LAW OF SMALL NUMBERS * ASSET IN- TEGRATION
AND LOSS AVERSION * TIME 556 DISCOUNTING * SELF-CONTROL * EXAMPLE:
OVERCONFIDENCE STRATEGIC INTERACTION AND SOCIAL NORMS 558 ULTIMATUM GAME
* FAIRNESS * ASSESSMENT OF BEHAVIORAL ECONOMICS 560 SUMMARY 561 REVIEW
QUESTIONS 563 31 EXCHANGE THE EDGEWORTH BOX 565 TRADE 567 PARETO
EFFICIENT ALLOCATIONS 568 MARKET TRADE 570 THE ALGEBRA OF EQUILIBRIUM
572 WALRAS' LAW 574 RELATIVE PRICES 575 EXAMPLE: AN ALGEBRAIC EXAMPLE OF
EQUILIBRIUM THE EXISTENCE OF EQUILIBRIUM 577 EQUILIBRIUM AND EFFI-
CIENCY 578 THE ALGEBRA OF EFFICIENCY 579 EXAMPLE: MONOPOLY IN THE
EDGEWORTH BOX EFFICIENCY AND EQUILIBRIUM 582 IMPLICATIONS OF THE FIRST
WELFARE THEOREM 584 IMPLICATIONS OF THE SECOND WELFARE THEOREM 586
SUMMARY 588 REVIEW QUESTIONS 589 APPENDIX 589 32 PRODUCTION THE ROBINSON
CRUSOE ECONOMY 591 CRUSOE, INC. 593 THE FIRM 594 ROBINSON'S PROBLEM 595
PUTTING THEM TOGETHER 595 DIFFERENT TECH- NOLOGIES 597 PRODUCTION AND
THE FIRST WELFARE THEOREM 599 PRODUC- TION AND THE SECOND WELFARE
THEOREM 600 PRODUCTION POSSIBILITIES 600 COMPARATIVE ADVANTAGE 602
PARETO EFFICIENCY 604 CASTAWAYS, INC. 606 ROBINSON AND FRIDAY AS
CONSUMERS 608 DECENTRALIZED RESOURCE ALLOCATION 609 SUMMARY 610 REVIEW
QUESTIONS 610 APPEN- DIX 611 CONTENTS XVII 33 WELFARE AGGREGATION OF
PREFERENCES 614 SOCIAL WELFARE FUNCTIONS 616 WELFARE MAXIMIZATION 618
INDIVIDUALISTIC SOCIAL WELFARE FUNCTIONS 620 FAIR ALLOCATIONS 621 ENVY
AND EQUITY 622 SUMMARY 624 REVIEW QUESTIONS 624 APPENDIX 625 34
EXTERNALITIES SMOKERS AND NONSMOKERS 627 * QUASILINEAR PREFERENCES AND
THE COASE THEOREM 630 PRODUCTION EXTERNALITIES 632 EXAMPLE: POLLUTION
VOUCHERS INTERPRETATION OF THE CONDITIONS 637 MARKET SIGNALS 640
EXAMPLE: BEES AND ALMONDS THE TRAGEDY OF THE COMMONS 641 EX- AMPLE:
OVERFTSHING EXAMPLE: NEW ENGLAND LOBSTERS AUTOMOBILE POLLU- TION 645
SUMMARY 647 REVIEW QUESTIONS 647 35 INFORMATION TECHNOLOGY SYSTEMS
COMPETITION 650 THE PROBLEM OF COMPLEMENTS 650 RE- LATIONSHIPS AMONG
COMPLEMENTORS * LOCK-IN 654 A MODEL OF COM- PETITION WITH SWITCHING
COSTS * EXAMPLE: ONLINE BILL PAYMENT EX- AMPLE: NUMBER PORTABILITY ON
CELL PHONES NETWORK EXTERNALITIES 658 MARKETS WITH NETWORK EXTERNALITIES
658 MARKET DYNAMICS 660 EX- AMPLE: NETWORK EXTERNALITIES IN COMPUTER
SOFTWARE IMPLICATIONS OF NET- WORK EXTERNALITIES 664 EXAMPLE: THE YELLOW
PAGES RIGHTS MANAGE- MENT 665 EXAMPLE: VIDEO RENTAL SHARING INTELLECTUAL
PROPERTY 667 SUMMARY 669 REVIEW QUESTIONS 669 36 PUBLIC GOODS WHEN TO
PROVIDE A PUBLIC GOOD? 671 PRIVATE PROVISION OF THE PUBLIC GOOD 675 FREE
RIDING 675 DIFFERENT LEVELS OF THE PUBLIC GOOD 677 QUASILINEAR
PREFERENCES AND PUBLIC GOODS 679 EXAMPLE: POLLUTION RE- VISITED THE FREE
RIDER PROBLEM 681 COMPARISON TO PRIVATE GOODS 683 VOTING 684 EXAMPLE:
AGENDA MANIPULATION DEMAND REVELATION 687 EXAMPLE: AN EXAMPLE OF THE
CLARKE TAX PROBLEMS WITH THE CLARKE TAX 691 SUMMARY 692 REVIEW QUESTIONS
692 APPENDIX 693 XVIII CONTENTS 37 ASYMMETRIC INFORMATION THE MARKET FOR
LEMONS 695 QUALITY CHOICE 696 CHOOSING THE QUAL- ITY * ADVERSE SELECTION
698 MORAL HAZARD 700 MORAL HAZARD AND ADVERSE SELECTION 701 SIGNALING
702 EXAMPLE: THE SHEEPSKIN EFFECT INCENTIVES 706 EXAMPLE: VOTING RIGHTS
IN THE CORPORATION EXAMPLE: CHINESE ECONOMIC REFORMS ASYMMETRIC
INFORMATION 711 EXAMPLE: MONITORING COSTS EXAMPLE: THE GRAMEEN BANK
SUMMARY 714 RE- VIEW QUESTIONS 715 MATHEMATICAL APPENDIX FUNCTIONS AL
GRAPHS A2 PROPERTIES OF FUNCTIONS A2 INVERSE FUNCTIONS A3 EQUATIONS AND
IDENTITIES A3 LINEAR FUNCTIONS A4 CHANGES AND RATES OF CHANGE A4 SLOPES
AND INTERCEPTS A5 ABSOLUTE VALUES AND LOGARITHMS A6 DERIVATIVES A6
SECOND DERIVATIVES A7 THE PRODUCT RULE AND THE CHAIN RULE A8 PARTIAL
DERIVATIVES A8 OPTIMIZATION A9 CONSTRAINED OPTIMIZATION A10 ANSWERS AH
INDEX A3I |
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| author | Varian, Hal R. 1947- |
| author_GND | (DE-588)122154584 |
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| bvnumber | BV021278642 |
| 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 |
| classification_tum | WIR 020 |
| ctrlnum | (OCoLC)255957137 (DE-599)BVBBV021278642 |
| 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 |
| discipline_str_mv | Wirtschaftswissenschaften |
| edition | 7th ed. |
| format | Book |
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| index_date | 2024-07-02T13:46:26Z |
| indexdate | 2024-07-09T20:34:33Z |
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| language | English |
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| owner | DE-M49 DE-BY-TUM DE-11 |
| owner_facet | DE-M49 DE-BY-TUM DE-11 |
| physical | XXIV, 715, 39 S. graph. Darst. |
| publishDate | 2006 |
| publishDateSearch | 2006 |
| publishDateSort | 2006 |
| publisher | Norton |
| record_format | marc |
| spelling | Varian, Hal R. 1947- Verfasser (DE-588)122154584 aut Intermediate microeconomics a modern approach Hal R. Varian 7th ed. New York [u.a.] Norton 2006 XXIV, 715, 39 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Microeconomics Mikroökonomie (DE-588)4039225-9 gnd rswk-swf Vorlage (DE-588)4188682-3 gnd rswk-swf 1\p (DE-588)4144384-6 Beispielsammlung gnd-content 2\p (DE-588)4151278-9 Einführung gnd-content 3\p (DE-588)4123623-3 Lehrbuch gnd-content Mikroökonomie (DE-588)4039225-9 s Vorlage (DE-588)4188682-3 s 4\p DE-604 SWB Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=014599669&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk 2\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk 3\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk 4\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
| spellingShingle | Varian, Hal R. 1947- Intermediate microeconomics a modern approach Microeconomics Mikroökonomie (DE-588)4039225-9 gnd Vorlage (DE-588)4188682-3 gnd |
| subject_GND | (DE-588)4039225-9 (DE-588)4188682-3 (DE-588)4144384-6 (DE-588)4151278-9 (DE-588)4123623-3 |
| title | Intermediate microeconomics a modern approach |
| title_auth | Intermediate microeconomics a modern approach |
| title_exact_search | Intermediate microeconomics a modern approach |
| title_exact_search_txtP | Intermediate microeconomics a modern approach |
| title_full | Intermediate microeconomics a modern approach Hal R. Varian |
| title_fullStr | Intermediate microeconomics a modern approach Hal R. Varian |
| title_full_unstemmed | Intermediate microeconomics a modern approach Hal R. Varian |
| title_short | Intermediate microeconomics |
| title_sort | intermediate microeconomics a modern approach |
| title_sub | a modern approach |
| topic | Microeconomics Mikroökonomie (DE-588)4039225-9 gnd Vorlage (DE-588)4188682-3 gnd |
| topic_facet | Microeconomics Mikroökonomie Vorlage Beispielsammlung Einführung Lehrbuch |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=014599669&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| work_keys_str_mv | AT varianhalr intermediatemicroeconomicsamodernapproach |