Topics in Microeconomics 1ed: Industrial Organization, Auctions, and Incentives
Cambridge University Press, 8/21/2008
EAN 9780521645348, ISBN10: 0521645344
Paperback, 392 pages, 24.6 x 18.9 x 2.3 cm
Language: English
This text in microeconomics focuses on the strategic analysis of markets under imperfect competition, incomplete information, and incentives. Part I of the book covers imperfect competition, from monopoly and regulation to the strategic analysis of oligopolistic markets. Part II explains the analytics of risk, stochastic dominance, and risk aversion, supplemented with a variety of applications from different areas in economics. Part III focuses on markets and incentives under incomplete information, including a comprehensive introduction to the theory of auctions, which plays an important role in modern economics. Each chapter introduces the core issues in an accessible yet rigorous fashion, and then investigates specialized themes. Each also offers self-contained explanations and proofs. The only prerequisites are a basic knowledge of calculus and probability, and familiarity with intermediate undergraduate microeconomics. The text can be used as a textbook in different courses for senior undergraduate or first-year graduate students.
Part I. Imperfect Competition
1. Monopoly
2. Regulation of monopoly
3. Oligopoly and industrial organization
Part II. Risk, Stochastic Dominance and Risk Aversion
4. Stochastic dominance
theory
5. Stochastic dominance
applications
6. Risk aversion
Part III. Incomplete Information and Incentives
7. Matching
the marriage problem
8. Auctions
9. Hidden information and adverse selection
10. Hidden information and signaling
11. Hidden action and moral hazard
12. Rank-order tournaments
Part IV. Technical Supplements
A. Nonlinear optimization
the classical approach
B. Inequality Constrained optimization
C. Convexity and generalizations
D. From expected values to order statistics.