Overview

This best-selling textbook covers all the topics in microeconomic theory covered by all students of economics. It combines the results of the authors' experience of teaching microeconomics at Harvard and has been fully classroom tested. Microeconomic Theory provides a balanced and in-depth analysis of the essentials of microeconomics, covering topics such as noncooperative game theory, information economics, mechanism design and general equilibrium under uncertainty. 'Self-sufficient' sections allow lecturers to `mix and match' topics relevant to their courses. Discussion is clear, accessible and engaging, enabling the student to gradually acquire confidence as well as proficiency. Extensive exercises within each chapter help students to hone their skills, while the text's appendix of terms, fully cross-referenced throughout the previous five sections, offers an accessible guide to the subject matter's terminology. Contents: I. Individual Decision-Making: Preference and Choice; Consumer Choice; Classical Demand Theory; Aggregate Demand; Production; Choice under Uncertainty; II. Game Theory:Basic Elements of Non-Cooperative Games; Simultaneous-Move Games; Dynamic Games; III. Market Equilibrium and Market Failure: Competitive Markets; Extrnalities and Public Goods; Market Power; Adverse Selection, Signalling, and Screening; The Principal-Agent Problem; IV. General Equilibrium: General Equilibrium Theory: Some Examples; Equilibrium and its Basic Welfare Properties; The Positive Theory of Equilibrium; Some Foundations for Competitive Equilibria; General Equilibrium under Uncertainty; Equilibrium and Time; V. Welfare Economics and Incentives: Social Choice Theory; Elements of Welfare Economics and Axiomatic Bargaining; Incentives and Mechanism Design; Mathematical Appendix

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9780195102680

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26/09/19953

A seminal textbook in that Area. Should be used (and kept) by all graduate students in economic modelisation . Professor Ferrer, Professor, University of Caen A very thorough and up to date presentation of the most important topics in Microeconomics. In my opinion this book will be the main text in many years to come. Ulrich K. Schittko, Universitat Augsburg This is an excellent text book which will be the bible for economic theory. Dr T. Hens, University of Bonn This is a superb, challenging text in micro theory - rigorous, solid and complete, priced competitively. Colm Harmon, Maynooth College This impressive piece is bound soon to become a standard reference for those teaching microeconomics at the graduate level ... this book reads reasonably well and covers virtually all the material on microeconomic theory that can be taught to doctoral students up to date ... The obvious qualities of this book are clarity and lucidity. In most cases, precise definitions and formal proofs of propositions are supplied, accompanied by appropriate remarks, discussions, and examples. Not only does this rigorous treatment help readers to get a clear idea of the basic theory, but also, as an important byproduct, it teaches them how to reconstruct the proofs themselves ... the main quality of this book is probably that the recourse to abstraction is never fortuitous: it is always justified by a research conciseness and is systematically motivated by simple yet convincing illustrations. Economica

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