Microeconomic theory: basic principles and extensions
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| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
[Mason]
South-Western
2012
Cengage Learning |
| Edition: | 11. ed., international ed. |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XXI, 738 S. graph. Darst. |
| ISBN: | 9781111525514 111152551X |
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Record in the Search Index
| _version_ | 1804148564401586176 |
|---|---|
| adam_text | Titel: Microeconomic theory
Autor: Snyder, Christopher M
Jahr: 2012
¦tf
PART
FOUR
PART
SEVEN
Brief Contents
Preface xix
Introduction 1
chapter i Economic Models 3
chapter 2 Mathematics for Microeconomics 21
Choice and Demand 83
chapter 3 Preferences and Utility 85
chapter 4 Utility Maximization and Choice 109
chapter 5 Income and Substitution Effects 133
chapter 6 Demand Relationships among Goods 169
Uncertainty and Strategy 187___________
chapter 7 Uncertainty 189
chapter 8 GameTheory 225
Production and Supply 271
chapter 9 Production Functions 273
chapter io Cost Functions 299
chapter 11 Profit Maximization 333
Competitive Markets 363
chapter 12 The Partial Equilibrium Competitive Model 365
chapter 13 General Equilibrium and Weifare 409
Market Power 447
chapter 14 Monopoly 449
chapter 15 Imperfect Competition 477
Pricing in Input Markets 519
chapter 16 Labor Markets 521
chapter 17 Capital and Time 547
Market Failure 577
chapter 18 Asymmetrie Information 579
chapter 19 Externalities and Public Goods 619
Extensions 649
Brief Answers to Queries 697
Solutions to Odd-Numbered Problems 707
Glossary of Frequently Used Terms 719
Index 729
Contents
Preface................................................................................................................................................xix
Introduction
CHAPTER 1
Economic Models....................................................................................................................3
Theoretical Models 3
Verification of Economic Models 4
General Features of Economic Models 5
Development of the Economic Theory of Value 9
Modern Developments 17
Summary 18
Suggestions for Further Reading 19
CHAPTER 2
Mathematics for Microeeonomics......................................................................................21
Maximization of a Function of One Variable 21
Functions of Several Variables 26
Maximization of Functions of Several Variables 33
The Envelope Theorem 35
Constrained Maximization 39
Envelope Theorem in Constrained Maximization Problems 45
Inequality Constraints 46
Second-Order Conditions and Curvature 48
Homogeneous Functions 55
Integration 58
Dynamic Optimization 63
Mathematical Statistics 67
Summary 76
Problems 77
Suggestions for Further Reading 82
Choice and Demand
CHAPTER 3
Preferences and Utility.........................................................................................................85
Axioms of Rational Choice 85
Utility 86
xii Contsnts
Trades and Substitution 88
The Mathematics of Indifference Curves 95
Utility Functions for Specific Preferences 98
The Many-Good Case 102
Summary 102
Problems 103
Suggestions for Further Reading 106
CHAPTER 4
Utility Maximization and Choice.......................................................................................,U3
An Initial Survey 110
The Two-Good Case: A Graphical Analysis 111
The n-Good Case 114
Indirect Utility Function 120
The Lump Sum Principle 121
Expenditure Minimization 123
Properties of Expenditure Functions 126
Summary 128
Problems 128
Suggestions for Further Reading 132
CHAPTER 5
Income and Substitution Effects.......................................................................................133
Demand Functions 133
Changes in Income 135
Changes in a Good s Price 137
The Individual s Demand Curve 140
Compensated (Hicksian) Demand Curves and Functions 143
A Mathematical Development of Response to Price Changes 148
Demand Elasticities 151
Consumer Surplus 157
Revealed Preference and the Substitution Effect 162
Summary 164
Problems 165
Suggestions for Further Reading 168
CHAPTER 6
Demand Relationships among Goods.................................................................. 159
The Two-Good Case 169
Substitutes and Complements 171
Net (Hicksian) Substitutes and Complements 173
Substitutability with Many Goods 175
Composite Commodities 175
Contents xiii
PART
THREE
Home Production, Attributes of Goods, and Implicit Prices 179
Summary 182
Problems 182
Suggestions for Further Reading 185
Uncertainty and Strategy
CHAPTER 7
Uncertainty...........................................................................................................................189
Mathematical Statistics 189
Fair Gambles and the Expected Utility Hypothesis 190
Expected Utility 191
The von Neumann-Morgenstern Theorem 192
Risk Aversion 194
Measuring Risk Aversion 197
Methods for Reducing Uncertainty and Risk 202
Insurance 202
Diversification 203
Flexibility 204
Information 211
The State-Preference Approach to Choice Under Uncertainty 212
Asymmetry of Information 218
Summary 218
Problems 219
Suggestions for Further Reading 222
CHAPTER 8
GameTheory........................................................................................................................225
Basic Concepts 225
Prisoners Dilemma 226
Nash Equilibrium 228
Mixed Strategies 234
Existence of Equilibrium 239
Continuum of Actions 239
Sequential Games 242
Repeated Games 248
Incomplete Information 251
Simultaneous Bayesian Games 252
Signaling Games 256
Experimental Games 262
Evolutionär/ Games and Learning 264
Summary 264
Problems 265
Suggestions for Further Reading 269
xiv Contents
Production and Supply
CHAPTER 9 273
Production Functions..........................................................................................................
Marginal Productivity 273
Isoquant Maps and the Rate of Technical Substitution 276
Returns to Scale 280
The Elasticity of Substitution 283
Four Simple Production Functions 286
Technical Progress 290
Summary 294
Problems 295
Suggestions for Further Reading 298
CHAPTER 10
Cost Functions......................................................................................................................299
Definitions of Costs 299
Cost-Minimizing Input Choices 302
Cost Functions 307
Cost Functions and Shifts in Cost Curves 311
Shephard s Lemma and the Elasticity of Substitution 321
Short-Run, Long-Run Distinction 321
Summary 328
Problems 329
Suggestions for Further Reading 332
CHAPTER 11
Profit Maximization.............................................................................................................333
The Nature and Behavior of Firms 333
Profit Maximization 335
Marginal Revenue 337
Short-Run Supply by a Price-Taking Firm 342
Profit Functions 345
Profit Maximization and Input Demand 351
Summary 357
Problems 358
Suggestions for Further Reading 362
Competitive Markets
CHAPTER 12
The Partial Equilibrium Competitive Model................................................. 365
Market Demand 365
Timing of the Supply Response 369
Pricing in the Very Short Run 369
Contents xv
Short-Run Price Determination 371
Shirts in Supply and Demand Curves: A Graphical Analysis 375
Mathematical Model of Market Equilibrium 378
Long-Run Analysis 381
Long-Run Equilibrium: Constant Cost Case 382
Shape of the Long-Run Supply Curve 384
Long-Run Elasticity of Supply 387
Comparative Statics Analysis of Long-Run Equilibrium 387
Producer Surplus in the Long Run 391
Economic Efficiency and Weifare Analysis 394
Price Controls and Shortages 397
Tax Incidence Analysis 398
Summary 403
Problems 403
Suggestions for Further Reading 407
CHAPTER 13
General Equilibrium and Weifare.....................................................................................409
Perfectly Competitive Price System 409
A Graphical Model of General Equilibrium with Two Goods 410
Comparative Statics Analysis 419
General Equilibrium Modeling and Factor Prices 421
A Mathematical Model of Exchange 423
A Mathematical Model of Production and Exchange 434
Computable General Equilibrium Models 437
Summary 441
Problems 442
Suggestions for Further Reading 446
Market Power
CHAPTER 14
Monopoly..............................................................................................................................449
Barriers to Entry 449
Profit Maximization and Output Choice 451
Monopoly and Resource Allocation 455
Monopoly, Product Quality, and Durability 458
Price Discrimination 461
Second-Degree Price Discrimination through Price Schedules 465
Regulation of Monopoly 467
Dynamic Views of Monopoly 471
Summary 471
Problems 472
Suggestions for Further Reading 475
xvi Contents
CHAPTER 15 4?7
Imperfect Competition........................................................................................................
Short-Run Decisions: Pricing and Output 477
Bertrand Model 479
Cournot Model 480
Capacity Constraints 486
Product Differentiation 487
Tacit Collusion 493
Longer-Run Decisions: Investment, Entry, and Exit 497
Strategie Entry Deterrence 503
Signaling 505
How Many Firms Enter? 508
Innovation 512
Summary 514
Problems 515
Suggestions for Further Reading 518
Pricing in Input Markets____________________________________
CHAPTER 16
Labor Markets......................................................................................................................521
Allocation of Time 521
A Mathematical Analysis of Labor Supply 524
Market Supply Curve for Labor 528
Labor Market Equilibrium 529
Wage Variation 531
Monopsony in the Labor Market 535
Labor Unions 538
Summary 541
Problems 541
Suggestions for Further Reading 545
CHAPTER 17
Capital and Time............................................................................................ 547
Capital and the Rate of Return 547
Determining the Rate of Return 549
The Firm s Demand for Capital 556
Present Discounted Value Approach to Investment Decisions 558
Natural Resource Pricing 563
Summary 566
Problems 566
Suggestions for Further Reading 570
Contents xvii
APPENDIX
The Mathematics of Compound Interest..........................................................................571
Present Discounted Value 571
Continuous Time 573
Market Failure
CHAPTER 18
Asymmetrie Information............................,........................................................................579
Complex Contracts as a Response to Asymmetrie Information 579
Principal-Agent Model 580
Hidden Actions 583
Owner-Manager Relationship 584
Moral Hazard in Insurance 588
Hidden Types 593
Nonlinear Pricing 594
Adverse Selection in Insurance 601
Market Signaling 608
Auctions 610
Summary 614
Problems 614
Suggestions for Further Reading 617
CHAPTER 19
Externalities and Public Goods.........................................................................................619
Defining Externalities 619
Externalities and Allocative Inefficiency 621
Solutions to the Externality Problem 625
Attributes of Public Goods 628
Public Goods and Resource Allocation 630
Lindahl Pricing of Public Goods 634
Voting and Resource Allocation 637
A Simple Political Model 639
Voting Mechanisms 642
Summary 644
Problems 644
Suggestions for Further Reading 647
Extensions: Second-Order Conditions and Matrix Algebra 649
Extensions: Special Preferences 652
Extensions: Budget Shares 655
Extensions: Demand Concepts and the Evaluation of Price Indices 658
Extensions: Simplifying Demand and Two-Stage Budgeting 662
Extensions: The Portfolio Problem 664
xviii Contents
Extensions: Existence of Nash Equilibrium 669
Extensions: Many-Input Production Functions 672
Extensions: The Translog Cost Function 675
Extensions: Boundaries of the Firm 677
Extensions: Demand Aggregation and Estimation 681
Extensions: Computable General Equilibrium Models 684
Extensions: Optimal Linear Two-Part Tariffs 686
Extensions: Strategie Substitutes and Complements 688
Extensions: Nonlinear Pricing with a Continuum of Types 692
Extensions: Pollution Abatement 695
Brief Answers to Queries...............................................................................................................697
Solutions to Odd-Numbered Problems.......................................................................................707
Glossary of Frequently Used Terms.............................................................................................719
Index...................................................................................................................................................729
|
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| spelling | Snyder, Christopher M. Verfasser (DE-588)128651539 aut Microeconomic theory basic principles and extensions Christopher Snyder ; Walter Nicholson 11. ed., international ed. [Mason] South-Western 2012 Cengage Learning XXI, 738 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Mikroökonomik / Theorie USA Mikroökonomie (DE-588)4039225-9 gnd rswk-swf Theorie (DE-588)4059787-8 gnd rswk-swf (DE-588)4123623-3 Lehrbuch gnd-content Mikroökonomie (DE-588)4039225-9 s Theorie (DE-588)4059787-8 s 1\p DE-604 Nicholson, Walter Verfasser (DE-588)170260119 aut HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=024542697&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 |
| spellingShingle | Snyder, Christopher M. Nicholson, Walter Microeconomic theory basic principles and extensions Mikroökonomik / Theorie USA Mikroökonomie (DE-588)4039225-9 gnd Theorie (DE-588)4059787-8 gnd |
| subject_GND | (DE-588)4039225-9 (DE-588)4059787-8 (DE-588)4123623-3 |
| title | Microeconomic theory basic principles and extensions |
| title_auth | Microeconomic theory basic principles and extensions |
| title_exact_search | Microeconomic theory basic principles and extensions |
| title_full | Microeconomic theory basic principles and extensions Christopher Snyder ; Walter Nicholson |
| title_fullStr | Microeconomic theory basic principles and extensions Christopher Snyder ; Walter Nicholson |
| title_full_unstemmed | Microeconomic theory basic principles and extensions Christopher Snyder ; Walter Nicholson |
| title_short | Microeconomic theory |
| title_sort | microeconomic theory basic principles and extensions |
| title_sub | basic principles and extensions |
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