Microeconomics, Global Edition
Námskeið V-201-RHAG Rekstrarhagfræði I V-625-REII Rekstrarhagfræði III - Höfundur: Jeffrey M. Perloff
4.790 kr.
Námskeið
- V-201-RHAG Rekstrarhagfræði I
- V-625-REII Rekstrarhagfræði III
Lýsing:
A market-leading text, Microeconomics presents economic theory in the context of real, data-driven examples, and then helps you develop your intuition through hallmark Solved Problems. The text places emphasis on modern theories, such as industrial organization theory, game theory, and transaction cost theory, which are useful in analyzing actual markets. At the same time, a step-by-step problem-based learning approach demonstrates how to use microeconomic theory to solve business problems and analyze policy.
Annað
- Höfundur: Jeffrey M. Perloff
- Útgáfa:9
- Útgáfudagur: 2023-04-27
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- Format:Page Fidelity
- ISBN 13: 9781292446516
- Print ISBN: 9781292446448
- ISBN 10: 129244651X
Efnisyfirlit
- Half Title
- Pearson’s Commitment to Accessibility
- Title Page
- Copyright
- Brief Contents
- Contents
- Preface
- Chapter 1. Introduction
- 1.1 Microeconomics: The Allocation of Scarce Resources
- Trade-Offs
- Who Makes the Decisions
- Prices Determine Allocations
- Application: Twinkie Tax
- 1.2 Models
- Application: Income Threshold Model and China
- Simplifications by Assumption
- Testing Theories
- Maximizing Subject to Constraints
- Positive Versus Normative
- 1.3 Uses of Microeconomic Models in Your Life and Career
- How Individuals, Firms, and Government Agencies Use Microeconomics
- What You Will Learn
- Career Skills
- Key Terms
- Summary
- 1.1 Microeconomics: The Allocation of Scarce Resources
- Chapter 2. Supply and Demand
- Challenge: Quantities and Prices of Genetically Modified Foods
- 2.1 Demand
- The Demand Curve
- The Demand Function
- Solved Problem 2.1
- Summing Demand Curves
- Application: Aggregating Corn Demand Curves
- 2.2 Supply
- The Supply Curve
- The Supply Function
- Summing Supply Curves
- How Government Import Policies Affect Supply Curves
- Solved Problem 2.2
- 2.3 Market Equilibrium
- Using a Graph to Determine the Equilibrium
- Using Math to Determine the Equilibrium
- Forces That Drive the Market to Equilibrium
- Application: Speed of Adjustment to New Information
- 2.4 Shocking the Equilibrium
- Effects of a Shock to the Supply Curve
- Solved Problem 2.3
- Application: The Opioid Epidemic Reduces Labor-Market Participation
- Effects of a Shock to the Demand Curve
- 2.5 Effects of Government Interventions
- Policies That Shift Supply Curves
- Application: Occupational Licensing
- Solved Problem 2.4
- Policies That Cause the Quantity Demanded to Differ from the Quantity Supplied
- Application: Venezuelan Price Ceilings and Shortages
- Solved Problem 2.5
- Why the Quantity Supplied Need Not Equal the Quantity Demanded
- 2.6 When to Use the Supply-and-Demand Model
- Challenge Solution: Quantities and Prices of Genetically Modified Foods
- Key Terms
- Summary
- Questions
- Chapter 3. Applying the Supply-and- Demand Model
- Challenge: Who Pays the Gasoline Tax?
- 3.1 How Shapes of Supply and Demand Curves Matter
- 3.2 Sensitivity of the Quantity Demanded to Price
- Price Elasticity of Demand
- Solved Problem 3.1
- Application: The Demand Elasticities for Google Play and Apple Apps
- Elasticity Along the Demand Curve
- Demand Elasticity and Revenue
- Solved Problem 3.2
- Application: Amazon Prime
- Demand Elasticities over Time
- Other Demand Elasticities
- Application: Anti-Smoking Policies May Reduce Drunk Driving
- 3.3 Sensitivity of the Quantity Supplied to Price
- Elasticity of Supply
- Elasticity Along the Supply Curve
- Supply Elasticities over Time
- Application: Oil Drilling in the Arctic National Wildlife Refuge
- Solved Problem 3.3
- 3.4 Effects of a Sales Tax
- Effects of a Specific Tax on the Equilibrium
- The Equilibrium Is the Same No Matter Whom the Government Taxes
- Solved Problem 3.4
- Firms and Customers Share the Burden of the Tax
- Application: Taxes to Prevent Obesity
- Solved Problem 3.5
- Ad Valorem and Specific Taxes Have Similar Effects
- Solved Problem 3.6
- Subsidies
- Application: Subsidizing Ethanol
- Challenge Solution: Who Pays the Gasoline Tax?
- Key Terms
- Summary
- Questions
- Chapter 4. Consumer Choice
- Challenge: Why Americans Buy More Ebooks Than Do Germans
- 4.1 Preferences
- Application: Testosterone and Luxury Goods
- Properties of Consumer Preferences
- Preference Maps
- Solved Problem 4.1
- Application: Indifference Curves Between Food and Clothing
- 4.2 Utility
- Utility Function
- Ordinal Preferences
- Utility and Indifference Curves
- Marginal Utility
- Utility and Marginal Rates of Substitution
- 4.3 Budget Constraint
- Slope of the Budget Constraint
- Application: Droughts
- Solved Problem 4.2
- Effect of a Change in Price on the Opportunity Set
- Effect of a Change in Income on the Opportunity Set
- Solved Problem 4.3
- 4.4 Constrained Consumer Choice
- The Consumer’s Optimal Bundle
- Application: The Trade-Off Between Alcohol and Marijuana
- Solved Problem 4.4
- Solved Problem 4.5
- Optimal Bundles on Convex Sections of Indifference Curves
- Buying Where More Is Better
- Application: Can Money Buy Happiness?
- Food Stamps
- Application: Benefiting from Food Stamps
- 4.5 Behavioral Economics
- Tests of Transitivity
- Endowment Effect
- Application: How You Ask a Question Matters
- Salience and Bounded Rationality
- Application: Unaware of Taxes
- Challenge Solution: Why Americans Buy More Ebooks Than Do Germans
- Key Terms
- Summary
- Questions
- Chapter 5. Applying Consumer Theory
- Challenge: Per-Hour Versus Lump-Sum Childcare Subsidies
- 5.1 Deriving Demand Curves
- Indifference Curves and a Rotating Budget Line
- Price-Consumption Curve
- Application: Cigarettes Versus E-Cigarettes
- The Demand Curve Corresponds to the Price-Consumption Curve
- Solved Problem 5.1
- 5.2 How Changes in Income Shift Demand Curves
- Effects of a Rise in Income
- Solved Problem 5.2
- Consumer Theory and Income Elasticities
- Application: Fast-Food Engel Curve
- 5.3 Effects of a Price Change
- Income and Substitution Effects with a Normal Good
- Solved Problem 5.3
- Solved Problem 5.4
- Income and Substitution Effects with an Inferior Good
- Solved Problem 5.5
- Compensating Variation and Equivalent Variation
- Application: Compensating Variation and Equivalent Variation for Smartphones and Facebook
- 5.4 Cost-of-Living Adjustments
- Inflation Indexes
- Effects of Inflation Adjustments
- Application: Paying Employees to Relocate
- 5.5 Deriving Labor Supply Curves
- Labor-Leisure Choice
- Income and Substitution Effects
- Solved Problem 5.6
- Application: Fracking Causes Students to Drop Out
- Solved Problem 5.7
- The Shape of the Labor Supply Curve
- Application: Working After Winning the Lottery
- Income Tax Rates and Labor Supply
- Challenge Solution: Per-Hour Versus Lump-Sum Childcare Subsidies
- Key Terms
- Summary
- Questions
- Chapter 6. Firms and Production
- Challenge: More Productive Workers During Downturns
- 6.1 The Ownership and Management of Firms
- Private, Public, and Nonprofit Firms
- Application: Chinese State-Owned Enterprises
- The Ownership of For-Profit Firms
- The Management of Firms
- What Owners Want
- 6.2 Production
- Production Functions
- Time and the Variability of Inputs
- 6.3 Short-Run Production
- Total Product
- Marginal Product of Labor
- Solved Problem 6.1
- Average Product of Labor
- Graphing the Product Curves
- Law of Diminishing Marginal Returns
- Application: Malthus and the Green Revolution
- 6.4 Long-Run Production
- Isoquants
- Application: Self-Driving Trucks
- Substituting Inputs
- Solved Problem 6.2
- 6.5 Returns to Scale
- Constant, Increasing, and Decreasing Returns to Scale
- Solved Problem 6.3
- Application: Returns to Scale in Various Industries
- Varying Returns to Scale
- 6.6 Productivity and Technical Change
- Relative Productivity
- Innovations
- Application: Restaurant Robots
- Application: A Good Boss Raises Productivity
- Challenge Solution: More Productive Workers During Downturns
- Key Terms
- Summary
- Questions
- Chapter 7. Costs
- Challenge: Technology Choice at Home Versus Abroad
- 7.1 The Nature of Costs
- Opportunity Costs
- Application: The Opportunity Cost of an MBA
- Solved Problem 7.1
- Opportunity Cost of Capital
- Sunk Costs
- 7.2 Short-Run Costs
- Short-Run Cost Measures
- Application: The Sharing Economy and the Short Run
- Short-Run Cost Curves
- Production Functions and the Shape of Cost Curves
- Application: A Beer Manufacturer's Short-Run Cost Curves
- Effects of Taxes on Costs
- Solved Problem 7.2
- Short-Run Cost Summary
- 7.3 Long-Run Costs
- All Costs Are Avoidable in the Long Run
- Minimizing Cost
- Isocost Line
- Combining Cost and Production Information
- Solved Problem 7.3
- Factor Price Changes
- Solved Problem 7.4
- The Long-Run Expansion Path and the Long-Run Cost Function
- Solved Problem 7.5
- The Shape of Long-Run Cost Curves
- Application: 3D Printing
- Estimating Cost Curves Versus Introspection
- 7.4 Lower Costs in the Long Run
- Long-Run Average Cost as the Envelope of Short-Run Average Cost Curves
- Application: A Beer Manufacturer’s Long-Run Cost Curves
- Application: Should You Buy an Inkjet or a Laser Printer?
- Short-Run and Long-Run Expansion Paths
- The Learning Curve
- Application: Solar Power Learning Curves
- 7.5 Cost of Producing Multiple Goods
- Challenge Solution: Technology Choice at Home Versus Abroad
- Key Terms
- Summary
- Questions
- Chapter 8. Competitive Firms and Markets
- Challenge: The Rising Cost of Keeping On Truckin’
- 8.1 Perfect Competition
- Price Taking
- Why the Firm’s Demand Curve Is Horizontal
- Deviations from Perfect Competition
- Derivation of a Competitive Firm’s Demand Curve
- Solved Problem 8.1
- Why We Study Perfect Competition
- 8.2 Profit Maximization
- Profit
- Two Decisions for Maximizing Profit
- 8.3 Competition in the Short Run
- Short-Run Output Decision
- Solved Problem 8.2
- Short-Run Shutdown Decision
- Application: Fracking and Shutdowns
- Solved Problem 8.3
- Short-Run Firm Supply Curve
- Short-Run Market Supply Curve
- Short-Run Competitive Equilibrium
- Solved Problem 8.4
- 8.4 Competition in the Long Run
- Long-Run Competitive Profit Maximization
- Long-Run Firm Supply Curve
- Application: The Size of Ethanol Processing Plants
- Long-Run Market Supply Curve
- Application: Industries with High Entry and Exit Rates
- Application: Upward-Sloping Long-Run Supply Curve for Cotton
- Application: Reformulated Gasoline Supply Curves
- Solved Problem 8.5
- Long-Run Competitive Equilibrium
- Challenge Solution: The Rising Cost of Keeping On Truckin’
- Key Terms
- Summary
- Questions
- Chapter 9. Applying the Competitive Model
- Challenge: Liquor Licenses
- 9.1 Zero Profit for Competitive Firms in the Long Run
- Zero Long-Run Profit with Free Entry
- Zero Long-Run Profit When Entry Is Limited
- Application: The Value of a Celebrity’s Name
- The Need to Maximize Profit
- 9.2 Consumer Welfare
- Measuring Consumer Welfare Using a Demand Curve
- Application: Willingness to Pay on eBay
- Effect of a Price Change on Consumer Surplus
- Application: Goods with a Large Consumer Surplus Loss from Price Increases
- Solved Problem 9.1
- 9.3 Producer Welfare
- Measuring Producer Surplus Using a Supply Curve
- Using Producer Surplus
- Solved Problem 9.2
- 9.4 Competition Maximizes Welfare
- Measuring Welfare
- Why Producing Less Than the Competitive Output Lowers Welfare
- Solved Problem 9.3
- Application: Deadweight Loss of Christmas Presents
- 9.5 Policies That Shift Supply and Demand Curves
- Entry Barrier
- Application: Welfare Effects of Allowing Fracking
- 9.6 Policies That Create a Wedge Between Supply and Demand Curves
- Welfare Effects of a Sales Tax
- Application: The Deadweight Loss from Gas Taxes
- Solved Problem 9.4
- Welfare Effects of a Subsidy
- Solved Problem 9.5
- Welfare Effects of a Price Floor
- Solved Problem 9.6
- Application: Who Gets Farm Subsidies?
- Welfare Effects of a Price Ceiling
- Solved Problem 9.7
- Application: The Social Cost of a Natural Gas Price Ceiling
- 9.7 Comparing Both Types of Policies: Imports
- Free Trade Versus a Ban on Imports
- Application: Russian Food Ban
- Free Trade Versus a Tariff
- A Tariff Versus a Quota
- Rent Seeking
- Challenge Solution: Liquor Licenses
- Key Terms
- Summary
- Questions
- Chapter 10. General Equilibrium and Economic Welfare
- Challenge: Natural Disasters and Anti-Price Gouging Laws
- 10.1 General Equilibrium
- Feedback Between Competitive Markets
- Solved Problem 10.1
- Minimum Wages with Incomplete Coverage
- Solved Problem 10.2
- Application: Urban Flight
- 10.2 Trading Between Two People
- Endowments
- Mutually Beneficial Trades
- Solved Problem 10.3
- Bargaining Ability
- 10.3 Competitive Exchange
- Competitive Equilibrium
- The Efficiency of Competition
- Obtaining Any Efficient Allocation Using Competition
- 10.4 Production and Trading
- Comparative Advantage
- Solved Problem 10.4
- Efficient Product Mix
- Competition
- 10.5 Efficiency and Equity
- Role of the Government
- Application: Extremely Unequal Wealth
- Efficiency
- Equity
- Application: How You Vote Matters
- Efficiency Versus Equity
- Challenge Solution Natural Disasters and Anti-Price Gouging Laws
- Key Terms
- Summary
- Questions
- Chapter 11. Monopoly
- Challenge: Brand-Name and Generic Drugs
- 11.1 Monopoly Profit Maximization
- Marginal Revenue
- Solved Problem 11.1
- Choosing Price or Quantity
- Graphical Approach
- Application: Taylor Swift Concert Pricing
- Solved Problem 11.2
- Mathematical Approach
- Application: Apple’s iPad
- Solved Problem 11.3
- Effects of a Shift of the Demand Curve
- 11.2 Market Power
- Market Power and the Shape of the Demand Curve
- Application: Cable Cars and Profit Maximization
- Lerner Index
- Solved Problem 11.4
- Sources of Market Power
- 11.3 Market Failure Due to Monopoly Pricing
- Solved Problem 11.5
- 11.4 Causes of Monopoly
- Cost-Based Monopoly
- Solved Problem 11.6
- Government Creation of a Monopoly
- Application: Botox Patent Monopoly
- 11.5 Government Actions That Reduce Market Power
- Regulating Monopolies
- Solved Problem 11.7
- Application: Natural Gas Regulation
- Increasing Competition
- Application: Movie Studios Attacked by 3D Printers!
- Solved Problem 11.8
- 11.6 Internet Monopolies: Network Effects, Behavioral Economics, and Economies of Scale
- Network Externalities
- Application: Critical Mass and eBay
- Introductory Prices: A Two-Period Monopoly Model
- Two-Sided Markets
- Economies of Scale on the Internet
- Disruptive Technologies
- Challenge Solution Brand-Name and Generic Drugs
- Key Terms
- Summary
- Questions
- Chapter 12. Pricing and Advertising
- Challenge: Sale Prices
- 12.1 Conditions for Price Discrimination
- Why Price Discrimination Pays
- Application: Disneyland Pricing
- Which Firms Can Price Discriminate
- Preventing Resale
- Application: Preventing Resale of Designer Bags
- Not All Price Differences Are Price Discrimination
- Types of Price Discrimination
- 12.2 Perfect Price Discrimination
- How a Firm Perfectly Price Discriminates
- Perfect Price Discrimination Is Efficient but Harms Some Consumers
- Application: Botox and Price Discrimination
- Solved Problem 12.1
- Application: Google Uses Bidding for Ads to Price Discriminate
- Transaction Costs and Perfect Price Discrimination
- 12.3 Group Price Discrimination
- Application: Tesla Price Discriminates
- Solved Problem 12.2
- Prices and Elasticities
- Solved Problem 12.3
- Preventing Resale
- Application: Age Discrimination
- Solved Problem 12.4
- Identifying Groups
- Application: Buying Discounts
- Welfare Effects of Group Price Discrimination
- 12.4 Nonlinear Price Discrimination
- 12.5 Two-Part Pricing
- Two-Part Pricing with Identical Customers
- Two-Part Pricing with Nonidentical Consumers
- Application: iTunes for a Song
- 12.6 Tie-In Sales
- Requirement Tie-In Sale
- Application: Ties That Bind
- Bundling
- Solved Problem 12.5
- 12.7 Advertising
- The Decision Whether to Advertise
- How Much to Advertise
- Application: Super Bowl Commercials
- Challenge Solution: Sale Prices
- Key Terms
- Summary
- Questions
- Chapter 13. Oligopoly and Monopolistic Competition
- Challenge: Government Aircraft Subsidies
- 13.1 Market Structures
- 13.2 Cartels
- Why Cartels Form
- Why Cartels Fail
- Laws Against Cartels
- Application: Signaling Drug Price Increases
- Maintaining Cartels
- Application: The Apple-Google-Intel-Adobe- Intuit-Lucasfilm-Pixar Wage Cartel
- Mergers
- Application: Airline Mergers
- 13.3 Cournot Oligopoly
- The Duopoly Nash-Cournot Equilibrium
- Equilibrium, Elasticity, and the Number of Firms
- Application: Mobile Number Portability
- Nonidentical Firms
- Solved Problem 13.1
- Application: How Do Costs, Price Markups, and Profits Vary Across Airlines?
- Solved Problem 13.2
- Application: Rising Market Power
- 13.4 Stackelberg Oligopoly
- Graphical Model
- Solved Problem 13.3
- Why Moving Sequentially Is Essential
- Comparison of Competitive, Stackelberg, Cournot, and Collusive Equilibria
- 13.5 Bertrand Oligopoly
- Identical Products
- Differentiated Products
- Application: Differentiating Bottled Water Through Marketing
- 13.6 Monopolistic Competition
- Application: Monopolistically Competitive Food Truck Market
- Equilibrium
- Solved Problem 13.4
- Fixed Costs and the Number of Firms
- Solved Problem 13.5
- Application: Entry Cost and the Number of Dentists
- Challenge Solution: Government Aircraft Subsidies
- Key Terms
- Summary
- Questions
- Chapter 14. Game Theory
- Challenge: Intel’s and AMD’s Advertising Strategies
- 14.1 Static Games
- Normal-Form Games
- Failure to Maximize Joint Profits
- Application: Strategic Advertising
- Multiple Equilibria
- Solved Problem 14.1
- Mixed Strategies
- Application: Boomerang Generation
- Solved Problem 14.2
- 14.2 Repeated Dynamic Games
- Strategies and Actions in Dynamic Games
- Cooperation in a Repeated Prisoners’ Dilemma Game
- Solved Problem 14.3
- 14.3 Sequential Dynamic Games
- Game Tree
- Subgame Perfect Nash Equilibrium
- Credibility
- Dynamic Entry Game
- Solved Problem 14.4
- Application: Keeping Out Casinos
- Solved Problem 14.5
- Disadvantages of Moving First
- Application: Venezuelan Nationalization
- Too-Early Product Innovation
- Application: Advantages and Disadvantages of Moving First
- 14.4 Auctions
- Elements of Auctions
- Bidding Strategies in Private-Value Auctions
- Winner’s Curse
- 14.5 Behavioral Game Theory
- Application: GM’s Ultimatum
- An Experiment
- Reciprocity
- Challenge Solution: Intel’s and AMD’s Advertising Strategies
- Key Terms
- Summary
- Questions
- Chapter 15. Factor Markets
- Challenge: Athletes’ Salaries and Ticket Prices
- 15.1 Competitive Factor Market
- Short-Run Factor Demand of a Firm
- Solved Problem 15.1
- Solved Problem 15.2
- Application: The Black Death Increased Wages
- Long-Run Factor Demand
- Factor Market Demand
- Competitive Factor Market Equilibrium
- 15.2 Effects of Monopolies on Factor Markets
- Market Structure and Factor Demands
- A Model of Market Power in Input and Output Markets
- Solved Problem 15.3
- 15.3 Monopsony
- Monopsony Profit Maximization
- Application: Monopsony in U.S. Labor Markets
- Welfare Effects of Monopsony
- Solved Problem 15.4
- Challenge Solution: Athletes’ Salaries and Ticket Prices
- Key Terms
- Summary
- Questions
- Chapter 16. Interest Rates, Investments, and Capital Markets
- Challenge: Does Going to College Pay?
- 16.1 Comparing Money Today to Money in the Future
- Interest Rates
- Using Interest Rates to Connect the Present and Future
- Application: Power of Compounding
- Stream of Payments
- Solved Problem 16.1
- Application: Saving for Retirement
- Inflation and Discounting
- Application: Winning the Lottery
- 16.2 Choices over Time
- Investing
- Solved Problem 16.2
- Solved Problem 16.3
- Rate of Return on Bonds
- Behavioral Economics: Time-Varying Discounting
- Application: Falling Discount Rates and Self-Control
- 16.3 Exhaustible Resources
- When to Sell an Exhaustible Resource
- Price of a Scarce Exhaustible Resource
- Application: Redwood Trees
- Why Price May Be Constant or Fall
- 16.4 Capital Markets, Interest Rates, and Investments
- Solved Problem 16.4
- Challenge Solution: Does Going to College Pay?
- Key Terms
- Summary
- Questions
- Chapter 17. Uncertainty
- Challenge BP and Limited Liability
- 17.1 Assessing Risk
- Probability
- Application: Risk of a Cyberattack
- Expected Value
- Solved Problem 17.1
- Variance and Standard Deviation
- 17.2 Attitudes Toward Risk
- Expected Utility
- Risk Aversion
- Solved Problem 17.2
- Application: Stocks’ Risk Premium
- Risk Neutrality
- Risk Preference
- Application: Gambling
- 17.3 Reducing Risk
- Just Say No
- Obtain and Use Information
- Diversify
- Application: Failing to Diversify
- Buy Insurance
- Solved Problem 17.3
- Application: Flight Insurance
- Application: Flooded by Insurance Claims
- 17.4 Investing Under Uncertainty
- Risk-Neutral Investing
- Risk-Averse Investing
- Solved Problem 17.4
- 17.5 Behavioral Economics of Uncertainty
- Biased Assessment of Probabilities
- Application: Biased Estimates
- Violations of Expected Utility Theory
- Prospect Theory
- Application: Loss Aversion Contracts
- Challenge Solution: BP and Limited Liability
- Key Terms
- Summary
- Questions
- Chapter 18. Externalities, Open-Access, and Public Goods
- Challenge: Trade and Pollution
- 18.1 Externalities
- Application: Negative Externalities from Spam
- 18.2 The Inefficiency of Competition with Externalities
- Application: Global Warming
- 18.3 Regulating Externalities
- Emissions Standard
- Emissions Fee
- Solved Problem 18.1
- Application: Taxing Driving
- Benefits Versus Costs from Controlling Pollution
- Application: Protecting Babies and Grandparents
- 18.4 Market Structure and Externalities
- Monopoly and Externalities
- Monopoly Versus Competitive Welfare with Externalities
- Taxing Externalities in Noncompetitive Markets
- Solved Problem 18.2
- 18.5 Allocating Property Rights to Reduce Externalities
- Coase Theorem
- Application: Buying a Town
- Markets for Pollution
- Application: Acid Rain Cap-and-Trade Program
- Markets for Positive Externalities
- 18.6 Rivalry and Exclusion
- Open-Access Common Property
- Application: Road Congestion
- Club Goods
- Application: Software Piracy
- Public Goods
- Solved Problem 18.3
- Application: Free Riding on Measles and COVID-19 Vaccinations
- Application: Ending Disney’s Positive Externality
- Challenge Solution: Trade and Pollution
- Key Terms
- Summary
- Questions
- Chapter 19. Asymmetric Information
- Challenge: Dying to Work
- 19.1 Adverse Selection
- Insurance Markets
- Products of Unknown Quality
- Solved Problem 19.1
- Solved Problem 19.2
- 19.2 Reducing Adverse Selection
- Equalizing Information
- Application: Discounts for Data
- Application: Adverse Selection and Remanufactured Goods
- Restricting Opportunistic Behavior
- 19.3 Price Discrimination Due to False Beliefs About Quality
- Application: Reducing Consumers’ Information
- 19.4 Market Power from Price Ignorance
- Tourist-Trap Model
- Solved Problem 19.3
- Advertising and Prices
- 19.5 Problems Arising from Ignorance When Hiring
- Cheap Talk
- Application: Cheap Talk in eBay’s Best Offer Market
- Education as a Signal
- Solved Problem 19.4
- Screening in Hiring
- Challenge Solution: Dying to Work
- Key Terms
- Summary
- Questions
- Chapter 20. Contracts and Moral Hazards
- Challenge: Clawing Back Bonuses
- 20.1 The Principal-Agent Problem
- Efficiency
- Symmetric Information
- Asymmetric Information
- Solved Problem 20.1
- Application: Honest Cabbie?
- 20.2 Using Contracts to Reduce Moral Hazard
- Fixed-Fee Contracts
- Contingent Contracts
- Application: Health Insurance and Moral Hazard
- Solved Problem 20.2
- Solved Problem 20.3
- Application: Sing for Your Supper
- Solved Problem 20.4
- Choosing the Best Contract
- 20.3 Monitoring to Reduce Moral Hazard
- Bonding
- Solved Problem 20.5
- Application: Capping Oil and Gas Bankruptcies
- Deferred Payments
- Efficiency Wages
- Application: Walmart’s Efficiency Wages
- Monitoring Outcomes
- 20.4 Checks on Principals
- Application: Layoffs Versus Pay Cuts
- 20.5 Contract Choice
- Challenge Solution: Clawing Back Bonuses
- Key Terms
- Summary
- Questions
- Chapter Appendixes
- Appendix 2A: Regressions
- Appendix 3A: Effects of a Specific Tax on Equilibrium
- Appendix 4A: Utility and Indifference Curves
- Appendix 4B: Maximizing Utility
- Appendix 5A: The Slutsky Equation
- Appendix 5B: Labor-Leisure Model
- Appendix 6A: Properties of Marginal and Average Product Curves
- Appendix 6B: The Slope of an Isoquant
- Appendix 6C: Cobb-Douglas Production Function
- Appendix 7A: Minimum of the Average Cost Curve
- Appendix 7B: Japanese Beer Manufacturer’s Short-Run Cost Curves
- Appendix 7C: Minimizing Cost
- Appendix 8A: The Elasticity of the Residual Demand Curve
- Appendix 8B: Profit Maximization
- Appendix 9A: Demand Elasticities and Surplus
- Appendix 11A: Relationship Between a Linear Demand Curve and Its Marginal Revenue Curve
- Appendix 11B: Incidence of a Specific Tax on a Monopoly
- Appendix 12A: Perfect Price Discrimination
- Appendix 12B: Group Price Discrimination
- Appendix 12C: Block Pricing
- Appendix 12D: Two-Part Pricing
- Appendix 12E: Profit-Maximizing Advertising and Production
- Appendix 13A: Nash-Cournot Equilibrium
- Appendix 13B: Nash-Stackelberg Equilibrium
- Appendix 13C: Nash-Bertrand Equilibrium
- Appendix 15A: Factor Demands
- Appendix 15B: Monopsony
- Appendix 16A: The Present Value of Payments over Time
- Appendix 18A: Welfare Effects of Pollution in a Competitive Market
- Appendix 20A: Nonshirking Condition
- Answers to Selected Questions and Problems
- Sources for Challenges and Applications
- References
- Definitions
- Index
- A
- B
- C
- D
- E
- F
- G
- H
- I
- J
- K
- L
- M
- N
- O
- P
- Q
- R
- S
- T
- U
- V
- W
- X
- Y
- Z
- Credits
- Symbols Used in This Book
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Bókahillan þín er þitt svæði og þar eru bækurnar þínar geymdar. Þú kemst í bókahilluna þína hvar og hvenær sem er í tölvu eða snjalltæki. Einfalt og þægilegt!Rafbók til eignar
Rafbók til eignar þarf að hlaða niður á þau tæki sem þú vilt nota innan eins árs frá því bókin er keypt.
Þú kemst í bækurnar hvar sem er
Þú getur nálgast allar raf(skóla)bækurnar þínar á einu augabragði, hvar og hvenær sem er í bókahillunni þinni. Engin taska, enginn kyndill og ekkert vesen (hvað þá yfirvigt).
Auðvelt að fletta og leita
Þú getur flakkað milli síðna og kafla eins og þér hentar best og farið beint í ákveðna kafla úr efnisyfirlitinu. Í leitinni finnur þú orð, kafla eða síður í einum smelli.
Glósur og yfirstrikanir
Þú getur auðkennt textabrot með mismunandi litum og skrifað glósur að vild í rafbókina. Þú getur jafnvel séð glósur og yfirstrikanir hjá bekkjarsystkinum og kennara ef þeir leyfa það. Allt á einum stað.
Hvað viltu sjá? / Þú ræður hvernig síðan lítur út
Þú lagar síðuna að þínum þörfum. Stækkaðu eða minnkaðu myndir og texta með multi-level zoom til að sjá síðuna eins og þér hentar best í þínu námi.
Fleiri góðir kostir
- Þú getur prentað síður úr bókinni (innan þeirra marka sem útgefandinn setur)
- Möguleiki á tengingu við annað stafrænt og gagnvirkt efni, svo sem myndbönd eða spurningar úr efninu
- Auðvelt að afrita og líma efni/texta fyrir t.d. heimaverkefni eða ritgerðir
- Styður tækni sem hjálpar nemendum með sjón- eða heyrnarskerðingu
- Gerð : 208
- Höfundur : 6534
- Útgáfuár : 2018
- Leyfi : 380
