Price Theory and Applications

Price Theory and Applications

This seventh edition is designed for undergraduate courses in intermediate microeconomics.

Author: Jack Hirshleifer

Publisher: Cambridge University Press

ISBN: 0521818648

Category: Business & Economics

Page: 614

View: 624

This seventh edition is designed for undergraduate courses in intermediate microeconomics. There are over a hundred extended 'boxed examples' on news-making subjects such as monopoly control of inventions, the effect of pension plans on savings, air bags' effects on auto safety, the UK National Lottery, internet auctions such as E-bay, use of lab experiments in economics, and fads in television programming. Almost every chapter contains several worked numerical examples with many answers appearing at the back of the book. The ...
Categories: Business & Economics

Price Theory

Price Theory

Price Theory is concerned not with economic problems in the abstract, but with how a particular society solves its economic problems.

Author: Milton Friedman

Publisher: Transaction Publishers

ISBN: 9780202309699

Category: Business & Economics

Page: 357

View: 862

Economics is sometimes divided into two parts: positive economics and normative economics. The former deals with how the economic problem is solved, while the latter deals with how the economic problem should be solved. The effects of price or rent control on the distribution of income are problems of positive economics. The desirability of these effects on income distribution is a problem of normative economics. Within economics, the major division is between monetary theory and price theory. Monetary theory deals with the level of prices in general, with cyclical and other fluctuations in total output, total employment, and the like. Price theory deals with the allocation of resources among different uses, the price of one item relative to another. Prices do three kinds of things. They transmit information, they provide an incentive to users of resources to be guided by this information, and they provide an incentive to owners of resources to follow this information. Milton Friedman's classic book provides the theoretical underpinning for and understanding of prices. Economics is not concerned solely with economic problems. It is a social science, and is therefore concerned primarily with those economic problems whose solutions involve the cooperation and interaction of different individuals. It is concerned with problems involving a single individual only insofar as the individual's behavior has implications for or effects upon other individuals. Price Theory is concerned not with economic problems in the abstract, but with how a particular society solves its economic problems.
Categories: Business & Economics

Price Theory

Price Theory

This text, first published in 1986 and now combining material from the first two editions, emphasizes understanding over formal analysis, using verbal explanation to supplement mathematical argument.

Author: David D Friedman

Publisher:

ISBN: 1072397366

Category:

Page: 556

View: 340

Price theory, often misleadingly labeled "microeconomics," is the explanation of how individual actors coordinate via markets, prices, and exchange to produce, distribute, and consume goods and services. Worked out more than a century ago, it remains the core of modern economic theory. This text, first published in 1986 and now combining material from the first two editions, emphasizes understanding over formal analysis, using verbal explanation to supplement mathematical argument. While optional sections require an understanding of calculus, the central arguments do not. The theory, once worked out, is applied both to the conventional topics of the classroom and to less obviously economic features of human behavior-love, marriage, crime, politics."Although the range of behavior analyzed with the economic way of thinking has been greatly extended during the past several decades, textbooks on economic principles generally have taken a much narrower view of the scope of economics. This is not surprising since recent developments in a scientific field usually do not find their way into textbooks for many years. Fortunately, several economics texts in recent years have begun to take a broader view, and this text by David Friedman does so in the most thoroughgoing and satisfactory manner of any that I have seen. Every chapter shows evidence of a skilled and imaginative economist applying his tools to the world around him."(From the forward by Gary Becker)
Categories:

The Nature of Price Theory

The Nature of Price Theory

Author: Herbert Hugo Liebhafsky

Publisher:

ISBN: MINN:31951001776464E

Category: Prices

Page: 643

View: 605

Categories: Prices

Intermediate Microeconomics

Intermediate Microeconomics

As well as providing a thorough treatment of the key elements of price theory for second-year students of microeconomics, this textbook also presents a distinctive perspective on the material, embedding these elements in a sustained ...

Author: Frederick George Hay

Publisher: Manchester University Press

ISBN: 0719045827

Category: Business & Economics

Page: 305

View: 799

As well as providing a thorough treatment of the key elements of price theory for second-year students of microeconomics, this textbook also presents a distinctive perspective on the material, embedding these elements in a sustained analytical argument linking price theory to the study of industry.
Categories: Business & Economics

Price Theory

Price Theory

Author:

Publisher: Macmillan International Higher Education

ISBN: 9781349173341

Category:

Page: 399

View: 428

Categories:

Chicago Price Theory

Chicago Price Theory

The book explains the surprising answers that price theory can provide to practical questions about taxation, education, the housing market, government subsidies, and much more.

Author: Sonia Jaffe

Publisher: Princeton University Press

ISBN: 9780691198811

Category: Business & Economics

Page: 248

View: 307

An authoritative textbook based on the legendary economics course taught at the University of Chicago Price theory is a powerful analytical toolkit for measuring, explaining, and predicting human behavior in the marketplace. This incisive textbook provides an essential introduction to the subject, offering a diverse array of practical methods that empower students to learn by doing. Based on Economics 301, the legendary PhD course taught at the University of Chicago, the book emphasizes the importance of applying price theory in order to master its concepts. Chicago Price Theory features immersive chapter-length examples such as addictive goods, urban-property pricing, the consequences of prohibition, the value of a statistical life, and occupational choice. It looks at human behavior in the aggregate of an industry, region, or demographic group, but also provides models of individuals when they offer insights about the aggregate. The book explains the surprising answers that price theory can provide to practical questions about taxation, education, the housing market, government subsidies, and much more. Emphasizes the application of price theory, enabling students to learn by doing Features chapter-length examples such as addictive goods, urban-property pricing, the consequences of prohibition, and the value of a statistical life Supported by video lectures taught by Kevin M. Murphy and Gary Becker The video course enables students to learn the theory at home and practice the applications in the classroom
Categories: Business & Economics

An Outline of International Price Theories

An Outline of International Price Theories

Chi-Yuen Wu from China was an Austrian price theorist writing during Mises's own time.

Author: Chi-Yuen Wu

Publisher: Ludwig von Mises Institute

ISBN: 9781610160452

Category:

Page: 373

View: 132

Chi-Yuen Wu from China was an Austrian price theorist writing during Mises's own time. His great contribution was this 1939 treatise written while studying at the London School of Economics, under the guidance of Lionel Robbins. Though the author deals primarily with the history of thought, Murray Rothbard considered it to be a seminal contribution to the theory of price and international trade.
Categories:

Price Theory in Action

Price Theory in Action

Author: Donald Stevenson Watson

Publisher:

ISBN: STANFORD:36105033947800

Category: Prices

Page: 400

View: 850

Categories: Prices

Price Theory

Price Theory

Author: Joe Staten Bain

Publisher:

ISBN: UCAL:B3927750

Category: Prices

Page: 461

View: 554

Categories: Prices

Price Theory

Price Theory

Author: Harry Townsend

Publisher:

ISBN: UVA:X000216737

Category: Price

Page: 586

View: 126

Categories: Price

Nonstandard House Price Theory

Nonstandard House Price Theory

This short book presents a different, nonstandard way of analysing house prices,
which have two dimensions: the micro and the macro dimension. Hedonic Pricing
Theory (HPT) provides a unified theoretical framework for statistically ...

Author: Marko Hannonen

Publisher: Suomen E-painos Oy

ISBN: 9789526613666

Category: Mathematics

Page: 57

View: 509

This is an e-book about a dynamic field theory of house prices, which simplifies the ideas in the author’s previous work, A Field Theory of House Prices (ISBN 978-952-6613-36-9). The text provides new, highly workable ideas based on the major ideas of classical physics combined with the major ideas of classical economics. This synthesis is known as a dynamic field theory of house prices. This is a novel theory that provides a unified, general framework for decision-making that can be applied to any macro-level question about house prices. In order to understand the ideas of this e-book, it is assumed that the reader has a basic understanding of mathematics, which is the language of exact science. The workability of the ideas presented in this e-book are demonstrated using some real, large data sets. These empirical results are documented in the presented material. The local disposable income and the interest variable typically applied in Finland are the ”pushing forces” that generate the demand field. The supply side is the ”attracting force” that does not influence the house prices in the samples investigated, but is still a force that exists. What is a house price? What are the demand field and supply field of housing? This book explains these issues.
Categories: Mathematics

Price Theory and Applications

Price Theory and Applications

The student who masters price theory acquires a powerful tool for understanding
a remarkable range of social phenomena. How does a sales tax affect the price
of coffee? Why do people trade? What happens to ticket prices when a baseball ...

Author: Steven Landsburg

Publisher: Cengage Learning

ISBN: 9781285947877

Category: Business & Economics

Page: 720

View: 371

Written in the same humorous, reader-friendly style as Professor Landsburg's widely popular trade book, The Armchair Economist, the lively ninth edition of PRICE THEORY AND APPLICATIONS adopts an inductive, hands-on approach that enables students to learn economics by doing. And it requires no knowledge or use of calculus. Using a student-friendly, easy-to-understand format, the book thoroughly develops the standard concepts of intermediate price theory as well as timely, untraditional issues not found in many texts¿such as the economics of information. Social welfare is also highlighted as a unifying concept throughout. The book's rigorous, meticulous development of economic theory is supported by countless intriguing and entertaining exhibits, examples, numerical exercises, and problem sets integrated within the text and included at the end of chapters, giving students countless opportunities to test their comprehension of chapter concepts. With its highly interactive approach, the new Price Theory gives students a solid understanding of economic theory as well as the skills to apply it to the world around them. Available with InfoTrac Student Collections http://gocengage.com/infotrac. Important Notice: Media content referenced within the product description or the product text may not be available in the ebook version.
Categories: Business & Economics

Post Keynesian Price Theory

Post Keynesian Price Theory

This book sets out the foundation of Post Keynesian price theory by developing
an empirically grounded pricing model and production schema. The
administered, normal cost, and mark up price doctrines are explained in parts I±III
of the book, ...

Author: Frederic S. Lee

Publisher: Cambridge University Press

ISBN: 1139426974

Category: Business & Economics

Page: 281

View: 766

Frederic Lee sets out the foundations of a post-Keynesian price theory through developing an empirically grounded production schema. The administered, normal cost and mark-up price doctrines are explained in parts I-III of the book, as many of their theoretical arguments are important for developing the foundations. This involves discussing the work of Gardiner Means, Philip Andrews, and Michal Kalecki as well as the developers of the doctrines, such as Edwin Nourse, Paolo Sylos Labini, Harry Edwards, Josef Steindl and Alfred Eisner. Drawing upon the arguments and formal modelling offered by the doctrines, in conjunction with empirical evidence from one hundred studies on pricing and production, Dr Lee develops an empirically grounded pricing model and production schema. He argues that the model and the schema together constitute the foundations for post-Keynesian price theory.
Categories: Business & Economics

Price Theory and Its Uses

Price Theory and Its Uses

Intended for intermediate price theory and intermediate microeconomics courses. This edition was published in 1981 by Houghton Mifflin Company.

Author: Donald Stevenson Watson

Publisher: Lanham, MD : University Press of America

ISBN: 0819180734

Category: Business & Economics

Page: 534

View: 687

Recognized for its clear writing style, this successful and carefully organized text takes the student step by step through the important themes of neoclassical microeconomics. It features a variety of applications, numerical illustrations and graphs with detailed captions. Each chapter has description diagrams, applications, problems and exercises, ending with a summary and selected references. Intended for intermediate price theory and intermediate microeconomics courses. This edition was published in 1981 by Houghton Mifflin Company.
Categories: Business & Economics

Keynesian Economics and Price Theory

Keynesian Economics and Price Theory

Theory. 14.1. Introduction. Lucas (1972) puts forward two main propositions. One
is that money is neutral under perfect information. The other is that some tradeoff
between the output level and the inflation rate emerges when information is ...

Author: Masayuki Otaki

Publisher: Springer

ISBN: 9784431553458

Category: Business & Economics

Page: 207

View: 368

This book reconstructs Keynesian macroeconomics so that it is compatible with the neoclassical dynamic microeconomic theory. This theory adopts three postulates: rational expectations, perfect price flexibility, and exclusion of the money in utility function (MIU). Based on the new theoretical finding that the Lucas model (1972) contains multiple equilibria, the author unifies Keynesian and monetarist theories within the same framework. The book applies the above basic theory to international macroeconomics and economic growth theory. New Keynesian theory contains logical inconsistencies: menu costs that have no close relationship with microeconomics and MIU, which implies that the money accumulated as wealth is never spent. These two assumptions do not proximate the real world. In this volume, the author discusses how various segregated theoretical approaches in macroeconomics relate to one another and proposes how to integrate them.
Categories: Business & Economics

Price Theory and Applications

Price Theory and Applications

By the author of "The Armchair Economist", this text aims to make intermediate microeconomics fun and intellectually challenging.

Author: Steven E. Landsburg

Publisher: South Western Educational Publishing

ISBN: IND:30000078379041

Category: Micro-économie

Page: 755

View: 919

By the author of "The Armchair Economist", this text aims to make intermediate microeconomics fun and intellectually challenging. The writing style provides a friendly presentation with many applications, combined with a careful development of microeconomics theory. All of the standard topics of intermediate price theory are included, as well as many topics, such as alternative normative criteria, efficient asset markets, contestable markets, antitrust law, human capital, demand for public goods, and more. A unifying theme of social welfare is used throughout. The inclusion of higher-level mathematics is minimal.
Categories: Micro-économie

Making Chicago Price Theory

Making Chicago Price Theory

Analytical Relevance in Economic Theory.” Friedman completed it inthe summer
of 1948. 27With basing point pricing the price of the product deliveredto the
customer is the base price plus the delivery cost froma fixed “basing point,” ...

Author: Daniel J. Hammond

Publisher: Routledge

ISBN: 9781135994297

Category: Business & Economics

Page: 165

View: 456

Milton Friedman and George J. Stigler shaped economics as we know it today – their Chicago School laid the groundwork for much of the neoclassical tradition in economic analysis. This book brings together a collection of letters from these two Noble laureates from the post-war years, containing new information about their personal and professional relationships, and also illuminating the development of ideas which are now fundamental to economic theory. The book, expertly edited by Dan and Claire Hammond, contains an introductory chapter, chronologies for Friedman and Stigler, and transcripts of sixty eight letters written from 1945 to 1957 along with enclosures.
Categories: Business & Economics