Microeconomic Theory for the Social Sciences

1. Auflage 2021
ISBN: 978-981-16-3540-3
Verlag: Springer

Buch, Englisch, 543 Seiten, Format (B × H): 155 mm x 235 mm, Gewicht: 850 g

This textbook covers microeconomic theory at the level of intermediate and advanced undergraduates. It is also intended as an introduction for those with other intellectual and academic backgrounds who may not necessarily agree with “mainstream” economists but at least are interested knowing how they think and see things.

The book provides thorough explanations of definitions and assumptions that the theory is based upon. It provides comprehensive accounts of motivations and reservations behind the theory. As well, it precisely presents the logical process of how the assumptions lead to the conclusion, conveying the intuition and the key of the arguments.

An abundance of topics is included here: individual choice, general equilibrium, partial equilibrium, game theory, imperfect competition, transaction under incomplete information, market failures, welfare economics, social choice and mechanism design. The book is a valuable resource for any reader studying or simply interested in microeconomic theory.

Zielgruppe

Upper undergraduate

Autoren/Hrsg.

Hayashi, Takashi

Fachgebiete

• Mathematik | Informatik Mathematik Operations Research Spieltheorie
• Wirtschaftswissenschaften Betriebswirtschaft Unternehmensforschung
• Wirtschaftswissenschaften Volkswirtschaftslehre Wohlfahrtsökonomie

Inhaltsverzeichnis

Part I: Individual Choice

1: On the concept of “rationality” in economics

2: Choice objects and choice opportunities

3: Preference

4: So-called utility function

5: Choice and demand

6: Demand analysis

7: Willingness to pay and consumer surplus

8: Intertemporal choice

9: Choice under risk

10: Revealed preference

Part II: Perfectly Competitive and Complete Market with Complete Information

11: Perfectly competitive and complete market with complete information

12: Competitive equilibrium in exchange economies

13: E?ciency of competitive allocation

14: Production technology

15: Pro?t maximization and cost minimization

16: Cost curve and competitive supply

17: Competitive equilibrium in production economies

18: Partial equilibrium analysis

Part III: Imperfect competition and game theory

19: Monopoly

20: Basic game theory I: normal-form games

21: Basic game theory II: extensive-form games

22: Oligopoly

Part IV: Economic Analysis with Incomplete Information

23: Basic game theory III: games with incomplete information

24: Auction

25: Trade with incomplete information

Part V: Market Failure and Normative Economic Analysis

26: Externality

27: Public goods and the free-rider problem

28: Indivisibility and heterogeneity

29: E?ciency, welfare comparison and fairness

30: Aggregation of preferences and social choice

31: Implementability of social choice objectives

Postscripts

Solutions to the exercises

Über Autor(innen)

Takashi Hayashi is Professor in economics at the University of Glasgow. His research fields are decision theory, social choice/implementation theory and general equilibrium theory.

He received his Ph.D. (2004) from The University of Rochester. He was Assistant Professor of economics at The University of Texas at Austin (2004-2012).

His works include General Equilibrium Foundation of Partial Equilibrium Analysis (Palgrave Macmillan, 2017) as well as academic papers such as “Smallness of a commodity and partial equilibrium analysis” (Journal of Economic Theory, 2013), “Implementation in partial equilibrium” (Journal of Economic Theory, 2017, co-authored with Michele Lombardi) and “Self-fulfilling regression and statistical discrimination” (International Journal of Economic Theory, 2019).