Essential microeconomics
By: John G. Riley, University of California, Los Angeles
Publisher: Cambridge University Press
Published: 2012
Place of publication: Cambridge
Language: eng
ISBN-13: 9780521827478
Subjects: Microeconomics; BUSINESS & ECONOMICS / Economics / Microeconomics
Description: "Essential Microeconomics is designed to help students deepen their understanding of the core theory of microeconomics"--

"PRICES AND OPTIMIZATION 1.1 SUPPORTING PRICES 1.2 SHADOW PRICES 1.3 THE ENVELOPE THEOREM 1.4 FOUNDATIONS OF CONSTRAINED OPTMIZATION 1.5 APPLICATION: MONOPOLY PRICING WITH JOINT COSTS 1.1 SUPPORTING PRICES Key ideas: convex and non-convex production sets, price based incentives, Supporting Hyperplane Theorem Pursuit of self-interest is central to economics. Thus a deep understanding of the theory of maximization is essential to effective theorizing. In particular, the theory of constrained maximization is so crucial that we explore it in this first chapter. In contrast to a purely mathematical exposition, the emphasis here is on prices"--
Notes: Includes index.
Table of contents: title: Machine generated contents note: 1. Prices and optimization; 2. Consumers; 3. Equilibrium and efficiency in an exchange economy; 4. Firms; 5. General equilibrium; 6. Dynamic optimization; 7. Uncertainty; 8. Equilibrium in financial markets; 9. Strategy; 10. Games with asymmetric information; 11. Incentive compatibility and mechanism design; 12. Auctions and public good; A. Mathematical foundations; B. Mappings of vectors; C. Optimization.