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Managerial Economics: Theory, Applications, and Cases 8th Revised edition [Kõva köide]

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(late of University of Pennsylvania), (Wharton Business School, University of Pennsylvania), (Wharton Business School, University of Pennsylvania), (Wharton Business School, University of Pennsylvania)
  • Formaat: Hardback, 736 pages, kõrgus x laius x paksus: 24x20x4 mm, kaal: 1562 g
  • Ilmumisaeg: 15-Sep-2012
  • Kirjastus: WW Norton & Co
  • ISBN-10: 0393912779
  • ISBN-13: 9780393912777
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Managerial Economics: Theory, Applications, and Cases 8th Revised editionSuurem pilt
  • Formaat: Hardback, 736 pages, kõrgus x laius x paksus: 24x20x4 mm, kaal: 1562 g
  • Ilmumisaeg: 15-Sep-2012
  • Kirjastus: WW Norton & Co
  • ISBN-10: 0393912779
  • ISBN-13: 9780393912777
Teised raamatud teemal:
Püsilink: https://www.kriso.ee/db/9780393912777.html
Märksõnad:
This eighth edition textbook includes 100 case studies that illustrate how managerial economics is conducted by companies and corporations throughout the world. More than 40 of the case studies are new additions and pertain to events that have occurred within the past two years. Among the categories of topics are: production and cost, market structure and simple pricing strategies, the strategic world of managers, government actions and managerial behavior, and risk, uncertainty, and incentives. Authors are Allen, Wiegelt, and Doherty (managerial economics, Wharton School of Business, U. of Pennsylvania). Annotation ©2012 Book News, Inc., Portland, OR (booknews.com)

Modernized for the 21st century, the Eighth Edition emphasizes strategic thinking by managers and includes over 50 new case studies on events from 2010 to 2012 that prepare students for today’s changing economy.

Thoroughly updated to reflect the post-crisis, global, and digital economy.
Preface xix
PART 1 THE NEED FOR A GUIDE
1(26)
Chapter 1 Introduction
3(24)
The Theory of the Firm
5(1)
What is Profit?
6(1)
Reasons for the Existence of Profit
6(1)
Managerial Interests and the Principal-Agent Problem
7(4)
Demand and Supply: A First Look
11(2)
The Demand Side of a Market
13(1)
The Supply Side of a Market
14(1)
Equilibrium Price
15(2)
Actual Price
17(1)
What If the Demand Curve Shifts?
18(2)
What If the Supply Curve Shifts?
20(1)
Summary
21(3)
Problems
24(3)
Excel Exercise: Demand, Supply, and Market Equilibrium
PART 2 THE NATURE OF MARKETS
27(108)
Chapter 2 Demand Theory
29(37)
The Market Demand Curve
33(3)
Industry and Firm Demand Functions
36(3)
The Own-Price Elasticity of Demand
39(1)
Point and Arc Elasticities
40(1)
Using the Demand Function to Calculate the Price Elasticity of Demand
41(2)
The Effect of Price Elasticity on the Firm's Revenue
43(1)
Funding Public Transit
44(1)
Determinants of the Own-Price Elasticity of Demand
45(3)
The Strategic Use of the Price Elasticity of Demand
48(5)
Total Revenue, Marginal Revenue, and Price Elasticity
53(2)
The Income Elasticity of Demand
55(2)
Cross-Price Elasticities of Demand
57(2)
The Advertising Elasticity of Demand
59(1)
The Constant-Elasticity and Unitary Elastic Demand Function
60(1)
Summary
61(5)
Problems
Chapter 3 Consumer Behavior And Rational Choice
66(31)
Indifference Curves
68(1)
The Marginal Rate of Substitution
69(1)
The Concept of Utility
70(3)
The Budget Line
73(3)
The Equilibrium Market Bundle
76(1)
Maximizing Utility: A Closer Look
76(3)
Corner Solutions
79(5)
How Managers Can Strategically Influence Consumer Choices
84(4)
Deriving the Individual Demand Curve
88(2)
Deriving the Market Demand Curve
90(2)
Consumer Surplus
92(1)
Summary
93(4)
Problems
Chapter 4 Estimating Demand Functions
97(38)
The Identification Problem
100(1)
Consumer Interviews
101(1)
Market Experiments
101(2)
Regression Analysis
103(2)
Simple Regression Model
105(1)
Sample Regression Line
106(3)
Method of Least Squares
109(1)
Coefficient of Determination
109(4)
Multiple Regression
113(1)
Software Packages and Computer Printouts
114(4)
Interpreting the Output of Statistical Software
118(1)
Multicollinearity
119(1)
Serial Correlation
120(3)
Further Analysis of the Residuals
123(2)
Summary
125(6)
Problems
131(4)
Appendix: The Coefficient of Determination and the Concept of Explained Variation
PART 3 PRODUCTION AND COST
135(88)
Chapter 5 Production Theory
137(36)
The Production Function with One Variable Input
143(1)
The Law of Diminishing Marginal Returns
143(3)
The Production Function with Two Variable Inputs
146(3)
Isoquants
149(3)
The Marginal Rate of Technical Substitution
152(4)
The Optimal Combination of Inputs
156(1)
Corner Solutions
156(4)
Returns to Scale
160(1)
The Output Elasticity
161(4)
Estimations of Production Functions
165(1)
Summary
165(3)
Problems
168(5)
Appendix: Lagrangian Multipliers and Optimal Input Combinations
Chapter 6 The Analysis Of Costs
173(50)
Opportunity Costs
174(3)
Short-Run Cost Functions
177(7)
Average and Marginal Costs
184(5)
Long-Run Cost Functions
189(2)
Managerial Use of Scale Economies
191(3)
Managerial Use of Scope Economies
194(4)
Transactions Costs Can Take Many Forms
198(3)
Network Economies
201(2)
Managerial Use of Break-Even Analysis
203(1)
Profit Contribution Analysis
204(1)
Summary
205(4)
Problems
209(2)
Excel Exercise: Production and Cost
211(12)
Appendix A Break-Even Analysis and Operating Leverage
214(9)
Appendix B Measurement of Short-Run Cost Functions: The Choice of a Mathematical Form
PART 4 MARKET STRUCTURE AND SIMPLE PRICING STRATEGIES
223(80)
Chapter 7 Perfect Competition
225(34)
Market Structure
227(2)
Market Price in Perfect Competition
229(1)
Shifts in Supply and Demand Curves
229(5)
The Output Decision of a Perfectly Competitive Firm
234(6)
Setting the Marginal Cost Equal to the Price
240(2)
Another Way of Viewing the Price Equals Marginal Cost Profit-Maximizing Rule
242(3)
Producer Surplus in the Short Run
245(2)
Long-Run Equilibrium of the Firm
247(2)
The Long-Run Adjustment Process: A Constant-Cost Industry
249(2)
The Long-Run Adjustment Process: An Increasing-Cost Industry
251(1)
How a Perfectly Competitive Economy Allocates Resources
252(1)
Summary
252(2)
Problems
254(5)
Excel Exercise: Perfect Competition
Chapter 8 Monopoly And Monopolistic Competition
259(44)
Pricing and Output Decisions in Monopoly
267(2)
Cost-Plus Pricing
269(1)
Cost-Plus Pricing at Therma-Stent
269(2)
Cost-Plus Pricing at Internet Companies and Government-Regulated Industries
271(2)
Can Cost-Plus Pricing Maximize Profit?
273(1)
The Multiple-Product Firm: Demand Interrelationships
274(3)
Pricing of Joint Products: Fixed Proportions
277(4)
Output of Joint Products: Variable Proportions
281(1)
Monopsony
282(3)
Monopolistic Competition
285(2)
Advertising Expenditures: A Simple Rule
287(1)
Using Graphs to Help Determine Advertising Expenditure
288(1)
Advertising, Price Elasticity, and Brand Equity: Evidence on Managerial Behavior
289(1)
Summary
290(4)
Problems
294(4)
Excel Exercise: Simple Monopoly
298(5)
Appendix: Allocation of Output among Plants
PART 5 SOPHISTICATED MARKET PRICING
303(106)
Chapter 9 Managerial Use Of Price Discrimination
305(52)
Motivation for Price Discrimination
306(12)
Price Discrimination
318(1)
Using Coupons and Rebates for Price Discrimination
319(5)
Peak Load Pricing
324(15)
Two-Part Tariffs
339(1)
Summary
340(4)
Problems
344(2)
Excel Exercise: Perfect Price Discrimination
346(5)
Excel Exercise: Third-Degree Price Discrimination
351(6)
Appendix: Two-Part Tariff with Intersecting Demands
Chapter 10 Bundling And Intrafirm Pricing
357(52)
The Mechanics of Bundling
377(4)
When to Unbundle
381(5)
Bundling as a Preemptive Entry Strategy
386(2)
Tying at IBM, Xerox, and Microsoft
388(4)
Transfer Pricing
392(3)
Transfer Pricing: A Perfectly Competitive Market for the Upstream Product
395(3)
The Global Use of Transfer Pricing
398(1)
Summary
399(4)
Problems
403(6)
Excel Exercise: Transfer Pricing
PART 6 THE STRATEGIC WORLD OF MANAGERS
409(122)
Chapter 11 Oligopoly
411(49)
Cooperative Behavior
413(1)
The Breakdown of Collusive Agreements
414(3)
Price Leadership
417(18)
Possible Behavior in Markets with Few Rivals
435(4)
Duopolists and Price Competition with Differentiated Products
439(1)
The Sticky Pricing of Managers
440(1)
Summary
441(6)
Problems
447(2)
Excel Exercise: Dominant Firm Price Leader
449(8)
Excel Exercise: Cournot
457(3)
Excel Exercise: Stackelberg
Chapter 12 Game Theory
460(42)
Making Strategy and Game Theory
461(2)
Strategy Basics
463(4)
Visual Representation
467(1)
Solution Concepts
467(1)
Equilibria
468(4)
Dominant Strategies
472(7)
The Nash Equilibrium
479(4)
Strategic Foresight: The Use of Backward Induction
483(2)
Repeated Games
485(2)
Incomplete Information Games
487(2)
Reputation Building
489(4)
Coordination Games
493(1)
Strictly Competitive Games
494(1)
Summary
495(3)
Problems
498(4)
Excel Exercise: Game Theory
Chapter 13 Auctions
502(29)
A Short History of Auctions
504(1)
Types of Auction Mechanisms
505(2)
Auction Mechanism and Revenue Generation
507(3)
Bidding Strategies
510(5)
Strategies for Sellers
515(3)
Value of Information
518(1)
Risk Aversion
519(1)
Number of Bidders
520(2)
Winner's Curse
522(1)
Concerns in Auction Design
523(1)
Summary
524(2)
Problems
526(5)
Excel Exercise: Auctions
PART 7 RISK, UNCERTAINTY, AND INCENTIVES
531(124)
Chapter 14 Risk Analysis
533(34)
Risk and Probability
536(1)
Probability Distributions and Expected Values
537(1)
Comparisons of Expected Profit
538(2)
Road Map to Decision
540(2)
The Expected Value of Perfect Information
542(6)
Measuring Attitudes toward Risk: The Utility Approach
548(3)
Attitudes toward Risk: Three Types
551(2)
The Standard Deviation and Coefficient of Variation: Measures of Risk
553(1)
Adjusting the Valuation Model for Risk
554(3)
Certainty Equivalence and the Market for Insurance
557(1)
Summary
558(4)
Problems
562(5)
Excel Exercise: Expected Utility
567(1)
Chapter 15 Principal-Agent Issues And Managerial Compensation
567(53)
Principal-Agent Issues
569(1)
The Diverging Paths of Owners and Managers
570(2)
The Principal-Agent Situation
572(9)
The Effect of Risk, Information, and Compensation on Principal-Agent Issues
581(8)
Resolving the Incentive Conflict When Output Is Risky and Effort Is Not Observable
589(5)
Some Refinements to Managerial Compensation
594(13)
Principal-Agent Issues in Other Contexts
607(5)
Product Liability and the Safety of Consumer Goods
612(1)
Summary
613(3)
Problems
616(4)
Excel Exercise: Moral Hazard
Chapter 16 Adverse Selection
620(35)
The Market for "Lemons"
622(5)
Adverse Selection in Automobile Insurance
627(7)
The Market for Annuities
634(5)
Resolving Adverse Selection through Self-Selection
639(1)
Using Education as a Signal: Adverse Selection in the Job Market
640(8)
Using Warranties as Signals: Adverse Selection in the Product Market
648(1)
Summary
648(2)
Problems
650(5)
Excel Exercise: Adverse Selection
PART 8 GOVERNMENT ACTIONS AND MANAGERIAL BEHAVIOR
655(108)
Chapter 17 Government And Business
658(70)
Competition versus Monopoly
660(4)
Regulation of Monopoly
664(2)
The One Star Gas Company: A Pseudo-Case Study
666(1)
Effects of Regulation on Efficiency
667(7)
The Concentration of Economic Power
674(2)
The Sherman Act
676(1)
The Clayton Act, the Robinson-Patman Act, and the Federal Trade Commission Act
677(3)
Interpretation of the Antitrust Laws
680(2)
The Patent System
682(16)
Trade and Trade Policy
698(4)
Government Price Ceilings and Price Floors
702(1)
The Welfare Impacts of Taxes
703(11)
Regulation of Environmental Pollution
714(6)
Public Goods
720(1)
Summary
721(4)
Problems
725(3)
Excel Exercise: Externalities
Chapter 18 Optimization Techniques
728(35)
Functional Relationships
729(2)
Marginal Analysis
731(3)
Relationships among Total, Marginal, and Average Values
734(4)
The Concept of a Derivative
738(6)
How to Find a Derivative
744(4)
Using Derivatives to Solve Maximization and Minimization Problems
748(2)
Marginal Cost Equals Marginal Revenue and the Calculus of Optimization
750(2)
Partial Differentiation and the Maximization of Multivariable Functions
752(2)
Constrained Optimization
754(2)
Lagrangian Multipliers
756(2)
Comparing Incremental Costs with Incremental Revenues
758(1)
Summary
758(5)
Problems
APPENDIX A TECHNOLOGICAL CHANGE AND INDUSTRIAL INNOVATION
763(29)
Technological Change
765(1)
Labor Productivity
766(1)
Total Factor Productivity
767(2)
Using Total Factor Productivity to Track Factory Performance
769(1)
Research and Development: A Learning Process
770(1)
Parallel Development Efforts
771(1)
What Makes for Success?
772(2)
Project Selection
774(1)
Innovation
774(3)
Time-Cost Trade-Offs
777(1)
The Learning Curve
777(2)
Applications of the Learning Curve
779(1)
Henry Ford's Model T and Douglas Aircraft's DC-9
780(2)
Diffusion Models
782(3)
Forecasting the Rate of Diffusion of Numerically Controlled Machine Tools
785(1)
Summary
786(6)
Problems
APPENDIX B BUSINESS AND ECONOMIC FORECASTING
792(31)
Survey Techniques
793(2)
Taking Apart a Time Series
795(2)
How to Estimate a Linear Trend
797(1)
How to Estimate a Nonlinear Trend
798(1)
Seasonal Variation
799(3)
Calculation of Seasonal Variation
802(2)
Cyclical Variation
804(2)
Elementary Forecasting Techniques
806(1)
How Leading Indicators are Used
807(2)
How Econometric Models are Used
809(1)
The Purvere Corporation: A Numerical Example
810(2)
"Study Your Residuals"
812(1)
Summary
813(4)
Problems
817(6)
Appendix: Exponential Smoothing and Forecasting
APPENDIX C DISCOUNTING AND PRESENT VALUES
823(6)
Present Value of a Series of Payments
824(2)
The Use of Periods Other Than a Year
826(3)
Determining the Internal Rate of Return
APPENDIX D ANSWERS TO SELECT END-OF-CHAPTER PROBLEMS
829(32)
APPENDIX E TABLES
861(16)
Index 877