Microeconomics for managers

By: Kreps, David MMaterial type: TextTextPublisher: New Delhi Viva Books 2017Description: 652pISBN: 9788130917054Subject(s): Microeconomics | Industrial managementDDC classification: 338.5 KRE Summary: This book represents the most modern text available for managerial economics. Stressing game theory and strategic thinking, the book underscores the connections between contemporary microeconomics and the business world of 21st century. Often driven by lengthy, integrated case studies, the narrative shows how economic models can yield practical answers to common business problems.
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Table of Contents:
1. Microeconomics? For Managers?
2. The most famous picture in economics
3. Marginal this and marginal that
4. Demand functions
5. Modelling consumer behavior
6. Channels of distribution and the problem of double marginalization
7. Price discrimination (and surplus extraction)
8. Averages and margins
9. Technology and cost minimization
10. Multiperiod production and cost
11. Competitive firms and perfect competition
12. Market efficiency
13. Taxes, subsidies, administered price, and quotas
14. Externalities
15. Risk aversion and expected utility
16. Expected utility as a normative decision aid
17. Risk sharing and spreading: securities and insurance markets
18. Hidden information, signaling, and screening
19. Incentives
20. Porter's five forces and economics with identities
21. Noncooperative game theory
22. Reciprocity and collusion
23. Credibility and reputation
24. Transaction cost economics and theory of the firm
25. Economics and organizational behavior

This book represents the most modern text available for managerial economics. Stressing game theory and strategic thinking, the book underscores the connections between contemporary microeconomics and the business world of 21st century. Often driven by lengthy, integrated case studies, the narrative shows how economic models can yield practical answers to common business problems.

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