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Intermediate microeconomics : a perspective on price theory

Autore: Frederick G Hay; Christine Oughton; Andrew S Skinner
Editore: Manchester [England] ; New York : Manchester University Press : Distributed exclusively in the USA by St. Martin's Press, 1996.
Edizione/Formato:   Libro : EnglishVedi tutte le edizioni e i formati
Banca dati:WorldCat
Sommario:
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. This perspective is valuable for economics and business students in both second and third years of study.
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Tipo documento: Book
Tutti gli autori / Collaboratori: Frederick G Hay; Christine Oughton; Andrew S Skinner
ISBN: 0719045819 9780719045813 0719045827 9780719045820
Numero OCLC: 35911029
Descrizione: xiv, 305 p. : ill. ; 25 cm.
Contenuti: Paretian analysis --
The Marshallian functions --
Equilibrium and the allocation of resources: perfect competition --
Monopoly and competition --
Oligopoly and game theory --
A re-orientation of the theory of value?
Responsabilità: Frederick G. Hay, Christine Oughton, and Andrew S. Skinner.

Abstract:

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. This perspective is valuable for economics and business students in both second and third years of study.

Starting from a Paretian stand-point, the argument develops the logic of individual choice and its implications for interdependent consumers and producers, and reviews the efficiency conditions appropriate to a general equilibrium framework. This is then used to derive the corresponding Marshallian functions, allowing the conditions for a competitive equilibrium to be established. The argument proceeds to consider different market structures, establishing the relevance for the study of oligopoly of game theoretic approaches: a chapter is devoted entirely to game theory, including repeated games and theories of rational choice.

The book has several distinctive features: a stress on the interdependence between output and employment decisions; an explicit focus on E. H. Chamberlin's analysis of monopolistic competition; an unobtrusive historical dimension; parallel diagrammatic and mathematical treatments of optimisation; linkages with classical macroeconomics; and an emphasis on the implications of time and uncertainty.

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