Modern Microeconomics
Publisher: Bookboon.com
Published: 2013
ISBN-13: 9788740304190
Description: Modern microeconomics book explains the advanced version of traditional microeconomic theories. It provides the explanation from consumer utility to general equilibrium in economy. This book therefore explains the economic units such as consumers and producers and their economic behaviors. The utility maximization of these units is subject to different constraints. The utility maximization approach of consumer and firm is different but it is complementary with each other.
Table of contents: title: Preface; title: Acknowledgement; title: Consumer preference and utility; title: Introduction; title: Preference relations; title: Utility function; title: Lexicographic ordering; title: Demand function; title: Revealed Preference Theory; title: The Weak Axiom of Revealed Preference (WARP); title: Indirect utility function; title: Expenditure function; title: The expenditure minimization problem; title: The Hicksian demand function; title: The Von Neumann-Morganstern utility function; title: Measures of Risk Aversion; title: Questions; title: The Production Function; title: Inputs to output function; title: Technology specification; title: Input requirement set; title: The transformation function; title: Monotonic technologies; title: Convex technology; title: Regular technology; title: Cobb-Douglas technology; title: Leontief technology; title: The technical rate of substitution; title: Elasticity of substitution; title: Variation in scale; title: Revised technical rate of substitution; title: Homogenous and heterogeneous production function; title: The Envelope theorem for constrained optimization; title: Duality of cost and the production function; title: Michael Kalechi’s theory; title: Neo-Keynesian model of distribution (Kaldor Model); title: Questions; title: Game Theory; title: Introduction; title: The rules of the Game; title: The prisoner’s dilemma: A dominant strategy; title: Equilibrium strategies; title: The Cournot model; title: Solution to the Cournot model by the Stackelberg equilibrium; title: The Bertrand paradox; title: Intertemporal dimensions; title: The folk theorem; title: Conclusion; title: Questions; title: Information Economics; title: Introduction; title: The asymmetric information model; title: The principal-agent model: The production game; title: Optimal contracts: The Broadway game; title: Moral hazard: Hidden information; title: Pooling and separating equilibrium: the salesman game; title: Efficiency wage hypothesis; title: Adverse selection; title: Lemon models; title: Adverse selection under uncertainty: Insurance game III; title: Signalling; title: Screening; title: Questions; title: General equilibrium and welfare economics; title: Introduction; title: The Walrasian equilibrium of a competitive economy; title: Stability proposition; title: Edgeworth’s exchange theory; title: Welfare economics; title: Pareto efficiency conditions; title: The Edgeworth box diagram; title: Welfare functions and the Pareto criterion; title: First theorem of welfare economics; title: The second theorem of welfare economics: (STWE); title: Market failure and second best; title: Instances of market failure; title: The Coase theorem; title: Questions; title: Bibliography