Topics in Microeconomics: Industrial Organization, Auctions, and Incentives / Edition 1

by Elmar Wolfstetter

Overview

This book in microeconomics focuses on the strategic analysis of markets under imperfect competition, incomplete information, and incentives. Part I of the book covers imperfect competition, from monopoly and regulation to the strategic analysis of oligopolistic markets. Part II explains the analytics of risk, stochastic dominance, and risk aversion, supplemented with a variety of applications from different areas in economics. Part III focuses on markets and incentives under incomplete information, including a comprehensive introduction to the theory of auctions, which plays an important role in modern economics.

Product Details

ISBN-13:	9780521645348
Publisher:	Cambridge University Press
Publication date:	10/28/1999
Edition description:	New Edition
Pages:	392
Product dimensions:	7.44(w) x 9.69(h) x 0.83(d)

Table of Contents

Part I. Imperfect Competition: 1. Monopoly; 2. Regulation of monopoly; 3. Oligopoly and industrial organization; Part II. Risk, Stochastic Dominance and Risk Aversion: 4. Stochastic dominance: theory; 5. Stochastic dominance: applications; 6. Risk aversion; Part III. Incomplete Information and Incentives: 7. Matching: the marriage problem; 8. Auctions; 9. Hidden information and adverse selection; 10. Hidden information and signaling; 11. Hidden action and moral hazard; 12. Rank-order tournaments; Part IV. Technical Supplements: A. Nonlinear optimization: the classical approach; B. Inequality Constrained optimization; C. Convexity and generalizations; D. From expected values to order statistics.

Editorial Reviews

"Departs from the tradition of the standard microeconomics textbook by providing an in-depth treatment of a few core topics, rather than a standard comprehensive overview of the field, and by ignoring the standard competitive analysis altogether and focusing on imperfect competition, uncertainty and incomplete information, and incentives." Journal of Economic Literature

From the Publisher