Leseprobe
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A Course in Microeconomic Theory
David M. Kreps
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Sozialwissenschaften, Recht, Wirtschaft / Wirtschaft
Beschreibung
David M. Kreps has developed a text in microeconomics that is both challenging and "user-friendly." The work is designed for the first-year graduate microeconomic theory course and is accessible to advanced undergraduates as well. Placing unusual emphasis on modern noncooperative game theory, it provides the student and instructor with a unified treatment of modern microeconomic theory--one that stresses the behavior of the individual actor (consumer or firm) in various institutional settings. The author has taken special pains to explore the fundamental assumptions of the theories and techniques studied, pointing out both strengths and weaknesses.
The book begins with an exposition of the standard models of choice and the market, with extra attention paid to choice under uncertainty and dynamic choice. General and partial equilibrium approaches are blended, so that the student sees these approaches as points along a continuum. The work then turns to more modern developments. Readers are introduced to noncooperative game theory and shown how to model games and determine solution concepts. Models with incomplete information, the folk theorem and reputation, and bilateral bargaining are covered in depth. Information economics is explored next. A closing discussion concerns firms as organizations and gives readers a taste of transaction-cost economics.
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Cost curve, Probability, Theory of Games and Economic Behavior, Indifference curve, The General Theory of Employment, Interest and Money, Oligopoly, Exchange economy, Real versus nominal value (economics), Fundamental theorems of welfare economics, Folk theorem (game theory), Market clearing, Partial equilibrium, Strategy (game theory), Utility, Marshallian demand function, Economics, Factor price, Social choice theory, Profit (economics), Reservation price, Risk aversion, Economic Theory (journal), Marginal cost, Preference (economics), Behavioral economics, Income, Marginal Cost Of Production, Coordination failure (economics), Neoclassical economics, Market power, Price mechanism, Demand curve, Marginal rate of substitution, Probability distribution, Marginal value, The Economic Journal, Consumer choice, Diversification (finance), Marginal utility, Microeconomics, Option (finance), Journal of Economic Theory, Market economy, Consumer economy, Economic equilibrium, Price fixing, Theory of value (economics), Market liquidity, Economy, Market (economics), Nash equilibrium, Utility maximization problem, Expected utility hypothesis, Sequential equilibrium, Supply (economics), Pareto efficiency, Information economics, Consumer, Experimental economics, Market mechanism, Contract curve, Marginal rate of technical substitution, Social welfare function, Commodity, Value (economics), Marginal product, Risk premium, Welfare economics, Price index, General equilibrium theory