Managerial Economics / Edition 3

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A major revision of a classic text is now under the stewardship of the team of instructors who teach the course to first-year students at the Wharton School of Business; includes over 100 real-world and current cases/examples, using actual companies, as well as six new or thoroughly revised chapters, focused on the cutting-edge topics in Economics and Business today.
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Product Details

  • ISBN-13: 9780393967753
  • Publisher: Norton, W. W. & Company, Inc.
  • Publication date: 11/28/1995
  • Edition description: Older Edition
  • Edition number: 3
  • Pages: 768
  • Product dimensions: 7.05 (w) x 9.55 (h) x 1.25 (d)

Meet the Author

W. Bruce Allen (Ph.D., Economics, Northwestern University) is Professor of Business and Public Policy at the Wharton School of Business, the University of Pennsylvania. For many years he was the Vice Dean and Director of the Wharton Graduate Division. He is an internationally recognized expert in transportation economics, and he specializes in demand theory and logistics. In addition to his duties at Wharton, Professor Allen teaches each summer in India and consults for numerous companies domestically and abroad. He has won a number of teaching awards, including the coveted Anvil Award, the highest teaching honor at Wharton since it is voted on by the students.

Neil A. Doherty (Ph.D. Cranfield Institute) is the Frederick H. Ecker Professor of Insurance and Risk Management at the Wharton School of Business, the University of Pennsylvania. He is an internationally recognized expert in corporate risk management, and is the author of Integrated Risk Management (McGraw-Hill, 2000). Professor Doherty has also won numerous teaching awards.

The late Edwin Mansfield was for many years a distinguished professor of economics at the University of Pennsylvania. He was an internationally recognized expert in the economics of technology and industrial organization. His numerous texts, all published by W.W. Norton, have sold millions of copies around the world. In 1979, when Sino-American scientific agreements were finally reached, Mansfield was the first American economist to lecture in the People's Republic of China.

Keith Weigelt (Ph.D., Economics, Northwestern University) is the Rebecca and Morris Marks Professor of Management at the Wharton School of Business, the University of Pennsylvania. He is an internationally recognized expert in business strategy, game theory, and tournaments, with articles published in the following leading journals: Journal of Political Economy, Econometrica, American Economic Review, Quarterly Journal of Economics, Journal of Business, and Management Science. Professor Weigelt has won numerous teaching awards, most recently the Undergraduate Division Excellence in Teaching Award and the “Tough, but I will thank you in 5 years” Award.

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Table of Contents

Ch. 1 Introduction to managerial economics 3
Ch. 2 Optimization techniques 39
Ch. 3 Demand theory 85
Ch. 4 Consumer behavior and rational choice 127
Ch. 5 Estimating demand functions 153
Ch. 6 Business and economic forecasting 201
Ch. 7 Production theory 239
Ch. 8 Technological change and industrial innovation 293
Ch. 9 The analysis of costs 325
Ch. 10 Perfect competition 377
Ch. 11 Monopoly and monopolistic competition 405
Ch. 12 Sophisticated monopoly pricing 451
Ch. 13 Oligopoly 523
Ch. 14 Game theory 563
Ch. 15 Risk analysis 601
Ch. 16 Auctions 643
Ch. 17 Moral hazard and principal-agent problems 671
Ch. 18 Adverse selection 713
Ch. 19 Government and business 745
Ch. 20 Managerial economics : taking a global view 789
App. A Discounting and present values
App. B The normal, t, and F distributions
Brief answers to "consultant's corner"
Brief answers to "managerial economics in context"
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