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- DescriptionThis book provides a concise treatment of the core concepts of microecomic theory at the intermediate level with calculus integrated into the text. The authors, Roberto Serra and Allan M. Feldman, start with consumer theory and then discuss preferences and utility, budget constraints, the consumer's optimal choice, demand and the consumer's choices about labor and savings. They next turn to welfare ecomics: when is one policy better for society than ather? Following are chapters presenting the theory of the firm and profit maximization in several alternative and partial equilibrium models of competitive markets, mopoly markets and duopoly markets. The authors then provide general equilibrium models of exchange and production and analyze market failures created by externalities, public goods and asymmetric information. Finally, they offer introductory treatments of decision theory under uncertainty and game theory. Graphic analysis is presented where necessary but distractions are avoided.
- Author BiographyRoberto Serrano is Harrison S. Kravis University Professor at Brown University, Rhode Island, and Research Associate at the Madrid Institute for Advanced Studies, Spain. He has contributed to different areas in microeconomic theory and game theory and his research has been published in leading journals including Econometrica, the Journal of Political Economy, the Review of Economic Studies, the Journal of Economic Theory, Games and Economic Behavior and the SIAM Review. He has received prestigious fellowships and prizes, including the Alfred P. Sloan Foundation Fellowship in 1988 and the Fundacion Banco Herrero Prize in 2004, awarded to the best Spanish economist under forty. He is managing editor of Economics Letters and the associate editor of the International Journal of Game Theory and Mathematical Social Sciences. At Brown, he was director of graduate studies from 2006 to 2012 and has served as economics department chair since 2010. Allan M. Feldman is Professor Emeritus of Economics at Brown University. His research has appeared in the Review of Economic Studies, Econometrica, the American Economic Review, Public Choice, the Journal of Economic Theory, the American Law and Economics Review and other journals. He is co-author (with Roberto Serrano) of Welfare Economics and Social Choice Theory, 2nd edition (2006). Professor Feldman taught economics at Brown University for thirty-eight years, including the intermediate microeconomics course. He was director of undergraduate studies in the Economics Department at Brown for nearly fifteen years.
- Author(s)Allan M. Feldman,Roberto Serrano
- PublisherCambridge University Press
- Date of Publication26/11/2012
- SubjectEconomics: Textbooks & Study Guides
- Place of PublicationCambridge
- Country of PublicationUnited Kingdom
- ImprintCambridge University Press
- Content Note128 b/w illus. 5 tables
- Weight680 g
- Width177 mm
- Height253 mm
- Spine20 mm
- Format DetailsTrade paperback (US)
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